Fort Point Capital Invests in ROX360
January 10, 2023
Fort Point Capital, a Boston-based private equity firm, announced today that it has recapitalized ROX360 (the “Company”), a tech-enabled marketing platform that provides technology-driven logistics / fulfillment services and customer retention services for vacation rental management (“VRM”) customers. By partnering with ROX360, VRMs can seamlessly offer their customers beach and recreation equipment, and local experiences, enhancing the vacation experience. The Company currently services beach markets throughout the Southeastern United States, with plans to scale the platform across vacation markets nationally. The co-founders, Scott Colson and Dean Haldopoulos, retained a large minority stake in the business and joined the Board of Directors. Wayne Aaron, CEO, and Erik Weston, COO, will continue to lead the business in its next phase of growth.
“The ROX360 team has built a unique offering for their VRM partners. With its technology backbone and scalable fulfillment operations, we believe ROX360 is uniquely positioned to support VRMs of all sizes across multiple markets,” said Christina Pai, Partner at Fort Point Capital. “We look forward to working with Wayne Aaron, Erik Weston, and the rest of the talented ROX360 team to capitalize on substantial growth opportunities.”
“As our growth has accelerated in recent years, we sought a value-added financial partner to assist us taking ROX360 to the next level, and we believe Fort Point is the perfect fit,” said Scott Colson, a founder of ROX360. “Fort Point brings a unique combination of investing experience across both tech-enabled marketing services and route-based logistics and fulfillment.”
Wayne Aaron added, “We believe Fort Point’s approach to partnering with entrepreneurial management teams to accelerate growth is highly complementary to our goals.”
“The short-term vacation rental market has seen substantial growth in recent years, and VRMs have faced unprecedented operational challenges. We believe ROX360 can be a critical tool for VRMs to add new revenue streams, enhance customer experience, and grow their brands without adding additional complexity to their businesses,” said Michael Duffy, Vice President at Fort Point Capital.
ROX360 is Fort Point’s fifteenth platform investment and seventh investment from FPC Small Cap Fund II. Over the past twelve months, Fort Point has closed ten transactions, including the exit of one of its portfolio companies, three new platform investments and six add-on acquisitions in support of its portfolio.
Abacus Finance Group and Siguler Guff & Company provided debt financing for the transaction. Kirkland & Ellis and RSM advised Fort Point, while the Company was advised by VRA Partners and Morris, Manning & Martin, LLP.
About Fort Point Capital
Fort Point Capital brings a management-led, growth-oriented approach to private equity investing, targeting fragmented sectors of the business services industry. Founded in Boston in 2011, Fort Point partners with founders and management teams to accelerate growth and performance. Fort Point provides resources to help companies expand teams and infrastructure, improve service offerings, access new markets, and support follow-on acquisitions. Fort Point fulfills its commitment to management, employees and shareholders by employing a repeatable process to drive durable value, showcased in over 40 acquisitions since the firm’s inception. Fort Point Capital is currently investing from FPC Small Cap Fund II. To learn more, please visit fortpointcapital.com.
Founded in 2014 and headquartered in Eastpoint, FL, ROX360 is a tech-enabled marketing platform that provides technology-driven logistics / fulfillment services and customer retention services for vacation rental management customers. To learn more, please visit rox360.com.