Private equity firm Apollo Global Management will take Rackspace private in the all-cash deal.
BLP Commerce is the parent company of OrganicBouquet.com, EcoFlowers.com and Xtranet Solutions.
ORLANDO, Fla., Oct. 14, 2011 /PRNewswire/ -- BLP Commerce, Inc., the parent company of OrganicBouquet.com, EcoFlowers.com and Xtranet Solutions announced today that the company has entered into a partnership with NewGate Capital Partners, a Winter Park, Florida venture capital and private-equity firm specializing in the capital placements for well-positioned, emerging enterprises.
Joe A. Alvarez, Jr., Founding Partner of NewGate Capital Partners, commented, "Only a small percentage of the companies that we review on an annual basis fit our stringent criteria for acceptance and presentation to our investors who comprise both Winter Park Angels Membership Group as well as hundreds of institutional investors we syndicate deals with nationwide. BLP Commerce, Inc., on the basis of their leading brands in the Eco-Lifestyle consumer space online, background and strength of the management team, and strong growth plans has all of the ingredients to be enormously successful and met with unanimous approval from our partners."
"We're excited to partner with NewGate in our first capital raise and look forward to their guidance in our mergers and acquisition strategy," stated Robert McLaughlin, Founder and CEO of BLP Commerce. Inc . BLP Commerce will focus its efforts on its flagship brand OrganicBouquet.com being the next great brand in the eco-lifestyles consumer space and will grow through acquisition of like-minded e-commerce companies that add critical customers, ethically produced products and increased value for its shareholders.
BLP Commerce, Inc. is a family of environmental and socially responsible brands. OrganicBouquet.com is the flagship brand, the largest online retail florist offering organic and eco-friendly gifts for all occasions. OrganicBouquet.com was recently added to Internet Retailer's prestigious Second Top 500 list; EcoFlowers.com is the wholesale division for the company and holds farm direct supply of certified sustainable floral products; Xtranet Solutions is a green IT company based in Central Florida focused on managed services for its clients and is an authorized reseller for HP, Cisco, Microsoft and over 25 cloud service providers.
The Partners of NewGate Capital Partners help other business owners in the transitions of their business through the execution of appropriate financial solutions and strategic partnerships. NewGate understands and appreciates the challenges in their companies exploring options relating to funding and the valuation of their business.