TZP Group Leads Series B Round in Knix

TZP Group partners with Knix and Founder/CEO Joanna Griffiths to support product development and accelerated growth

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May 18, 2021, 10:00 ET

NEW YORK, May 18, 2021 /PRNewswire/ -- TZP Group ("TZP"), a multi-strategy private equity firm, announced today that the firm has led the Series B of Knix Wear, Inc. ("Knix" or the "Company"), a leading direct-to-consumer intimate apparel brand, with participation from existing Knix investors, including Acton Capital, and alongside new investor, Supermodel and Entrepreneur Ashley Graham.

Launched in 2013 by Joanna Griffiths, Knix has been reinventing the intimates category by combining performance, technology, and design to make beautiful and functional products that serve their customers, at every stage of life. While Knix is a pioneer of leakproof underwear, the brand has long since become a player to be reckoned with in the intimates category with product innovation that spans across wireless bras, sports bras, swim, lounge, shapewear, maternity as well as their teen brand, KT by Knix. Knix sells its products globally through its website and has store locations in Toronto and Vancouver with plans to further expand their store fleet across North America this year.

Erin Edwards, TZP Partner, noted, "We believe Knix is an authentic and innovative brand that is disrupting the women's intimate apparel landscape. As pioneers in inclusivity and body positivity, and with an expanding portfolio of high-quality products, the brand has amassed a large and growing community of engaged and loyal consumers. As a digitally-first brand, Knix is well positioned to seize the opportunity for continued growth, and we are thrilled to be partnering with Joanna and the team. TZP is committed to supporting female founders and management teams, and we are proud to add Knix to the TZP portfolio."

"TZP Group has a deep experience investing in the direct-to-consumer segment, and as the founder of Knix, it was important to align our company with a partner who is equally dedicated to growing our business while maintaining our commitment to our mission and vision," said Joanna Griffiths, CEO and Founder. "The TZP team brings valuable assets and experience to support our future growth. We are thrilled to have TZP as partners for this next phase of Knix's journey."

Erin Edwards led the transaction for TZP with support from Choon Woo Ha, Jarrad Berman, and George Philipose. Goodwin Proctor LLP and Norton Rose LLP provided legal counsel to TZP. Blake Cassels & Graydon LLP provided legal counsel to the Company. Robert W. Baird & Co. served as the exclusive financial advisor to Knix for the transaction.

About Knix
Knix is a direct-to-consumer intimate apparel brand that is re-inventing intimates for every stage of life. Through innovative products and a community-first approach, Knix is on a mission to empower people everywhere to live unapologetically free. Every product, campaign and image that Knix puts into the world is tied to this mission that has been embedded in the company's DNA since day one. Since its inception, Knix has been size-inclusive, offering sizes XS-XXXXL and up to a 42G in wireless bras, and has focused on using real customers on its website, ad campaigns, and social media. Founded in 2013, Knix is one of the fastest growing DTC brands in North America and is globally recognized as an innovator and disrupter within the apparel space. A Knix item is sold every six seconds and the brand was recently named Strategy Magazine's 2020 Brand of the Year while Founder and CEO Joanna Griffiths was named one of 2020's Most Admired CEOs. For more information visit Knix.com/Knix.ca and @knixwear on social media.

About TZP Group
TZP Group, a multi-strategy private equity firm managing approximately $2.0 billion across its family of funds including TZP Capital Partners, TZP Small Cap Partners, TZP Strategies, and TZP Strategies Acquisition Corp., is focused on control, growth equity, and structured capital investments in technology, business services, and consumer companies. Founded in 2007, TZP targets companies with solid historical performance and sustainable value propositions and aims to be a "Partner of Choice" for business owners and management teams. TZP seeks to invest primarily in closely held, private companies in which the owners desire to retain a significant stake and partner with an investor with complementary operating and financial skills to accelerate company growth, increase profitability, and maximize the value of their retained stake. TZP leverages its investment professionals' operating and investment experience to provide strategic and operational guidance and is dedicated to long-term value creation. For more information, please visit www.tzpgroup.com.

For more media inquiries please contact:
Dan Gaspar, Partner | [email protected]

SOURCE TZP Group