Mohawk Group Adds New SaaS Client
AIMEE Proprietary Software Platform to Assist Emerisque in Evaluating M&A Targets
NEW YORK, May 18, 2020 (GLOBE NEWSWIRE) -- Mohawk Group Holdings, Inc. (NASDAQ: MWK) (“Mohawk”) the tech-enabled, consumer-focused product company, today announced it is providing its managed Software-as-a-Service (SaaS) to Emerisque, a London U.K., based specialist private equity firm focused on global consumer and retail sectors.
The value creation thesis and core theme of Emerisque investments is to acquire medium-sized companies and move them towards growth markets, channels, and categories (including multi-channel digital commerce, franchising, and licensing among others). Under the terms of the agreement, Emerisque will utilize AIMEE’s machine learning, natural language processing, and data analytics to evaluate strategic acquisitions in the marketplace, including opportunities for growth post-closing. “Our software platform’s insights into critical online sales channels will provide Emerisque with an understanding of the omnichannel competitive landscape. AIMEE can surface various untapped consumer paths to purchase that can unlock growth at the product level as well as leverage trends within the entire category. We often see existing brands missing on these insights, leaving money on the table. We believe a deeper understanding of the existing untapped upside of an M&A target is going to allow Emerisque to further drive value from each deal they lead”, said Mohawk Group’s Head of Business Development and SaaS, Sam Appelbaum.
"We are very pleased to announce this new relationship with Emerisque,” said Mohawk Group Chief Executive Officer, Yaniv Sarig. “The team at Emerisque has been very successful creating value by acquiring and expanding companies that have significant untapped global growth potential. The combination of their experience and expertise combined with AIMEE’s ability to quickly and efficiently analyze large amounts of data, will enhance Emerisque’s ability to assess the potential opportunities of its acquisition targets.”
Ajay Khaitan, Founder of Emerisque, said that “Emerisque is excited to leverage the power of Mohawk’s AIMEE platform to make improved decisions with our retail portfolio companies and on potential acquisitions.”
About Mohawk Group Holdings, Inc.
Mohawk Group Holdings, Inc. and subsidiaries (“Mohawk”) is a rapidly growing technology-enabled consumer products company that uses machine learning, natural language processing, and data analytics to design, develop, market and sell products. Mohawk predominantly operates through online retail channels such as Amazon, and Walmart. Mohawk has incubated and grouped four owned and operated brands: hOme, Vremi, Xtava and RIF6. Mohawk sells products in multiple categories, including home and kitchen appliances, kitchenware, environmental appliances (i.e., dehumidifiers and air conditioners), beauty-related products and, to a lesser extent, consumer electronics. Mohawk was founded on the premise that if a company selling consumer packaged goods was founded today, it would apply artificial intelligence and machine learning, the synthesis of massive quantities of data and the use of social proof to validate high caliber product offerings as opposed to over-reliance on brand value and other traditional marketing tactics.
Forward Looking Statements
All statements other than statements of historical facts included in this press release that address activities, events or developments that we expect, believe or anticipate will or may occur in the future are forward-looking statements including, in particular, the statements about our expected 2020 net revenue and Adjusted EBITDA, our business model and our technology platform, including our ability to disrupt the consumer products industry, our ability to grow market share in existing and new product categories; and our ability to generate profitability and shareholder value. These forward-looking statements are based on management’s current expectations and beliefs and are subject to uncertainties and factors, all of which are difficult to predict and many of which are beyond our control and could cause actual results to differ materially and adversely from those described in the forward-looking statements. These risks include, but are not limited to, those related to the impact of COVID-19, our cash flows and revenue growth rate; our supply chain, sourcing, manufacturing, warehousing and fulfillment; international tariffs and trade measures; inventory management, product liability claims, recalls or other safety concerns, reliance on third party online marketplaces, seasonal and quarterly variations in our revenue; acquisitions of other companies and technologies and other factors discussed in the “Risk Factors” section of our most recent periodic reports filed with the Securities and Exchange Commission (“SEC”), all of which you may obtain for free on the SEC’s website at www.sec.gov. Although we believe that the expectations reflected in our forward-looking statements are reasonable, we do not know whether our expectations will prove correct. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, even if subsequently made available by us on our website or otherwise. We do not undertake any obligation to update, amend or clarify these forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.
Ilya Grozovsky, Mohawk Group
Brendon Frey, ICR
Jessica Liddell, ICR