Unique transaction structuring brings additional value to buy-side acquisition

Company

• Ice.com is a market leading E-commerce site focused on delivering high quality, great value jewelry as part of a direct-to-consumer platform.
• The Company’s products include diamond, pearl and gemstone jewelry, such as rings, earrings, bracelets, pendants, necklaces and watches.

Situation

• Ice.com approached Odimo, a publicly traded company on the NASDAQ, with intentions to acquire its diamond.com assets, to offer a wider range of premium jewelry products
• The situation required designing a purchase structure and negotiating strategy to optimize the deal for Ice.com and reach a timely close.
• Ice.com retained Cascadia to structure the deal and manage negotiations.

Results

• Ice.com received an infusion of capital from Ignition Partners to facilitate the purchase of the domain, the inventory and provide additional working capital.
• Cascadia Capital created a deal structure to avoid purchasing the entire operations, focusing on the core assets that were strategic to Ice.com.
• This structure further avoided additional exposure to unknown liabilities, as well as a lengthy and tedious process to close.