The Technology M&A team advised thredUP to acquire Remix Global to give the company an instant presence and base of operations in Europe.
ThredUP is one of the largest online resale platforms for women's and kids' apparel, shoes, and accessories. The acquisition will accelerate thredUP's growth plans in Europe. With this acquisition, thredUP adds a complementary operational infrastructure and an experienced management team to springboard its expansion into Europe. The acquisition is expected to close during the fourth quarter of 2021 and is subject to customary closing conditions and other deal specific closing conditions. The consideration is expected to be approximately $28.5 million, subject to customary purchase price adjustments, and upon the closing thredUP will also grant the Remix management team $6.5 million in restricted stock units to vest over four years.
The Goodwin team was led by Nate Hagler, Lawrence Chu, Conner Pine, Tim Johnston and Maggie Beale-Wirsing and included Jacob Osborn, Axel Urie, Koray Bulut, Lynda Galligan, Monica Patel, Kevin Liu, Ora Grinberg, Jacqueline Klosek, Federica DeSantis and Jonathan Newmark.
For additional details on the transaction, please read the press release.