DETROIT, Nov. 7, 2016 /PRNewswire/ -- Huron Capital Partners LLC ("Huron Capital") today announced its portfolio company, Sock & Accessory Brands Global ("SABG"), has acquired Conover, North Carolina-based Twin City Knitting Company ("TCK").
Founded in 1961, TCK is a designer, manufacturer and wholesaler of performance athletic socks, predominantly serving the team sports market with products such as customized team socks. The majority of the company's products are manufactured in the United States. TCK will continue to operate out of its existing facilities in North Carolina, and the prior owners, Joseph Lamb and Fran Davis, will retain their roles with the business. In addition, Fran Davis will join the Board of Directors SABG.
"TCK is a well-recognized name in the American team sports apparel market," said Tom O'Riordan, CEO of SABG. "The acquisition of TCK is expected to provide SABG with access to a variety of new buying organizations and distribution channels. It will also add domestic manufacturing capabilities to SABG's current operations, which we expect will allow for faster turnaround times to meet customer needs."
"We are thrilled to be partnering with SABG and Huron Capital," said Fran Davis, co-owner of TCK. "TCK brings an established brand in the team sports market to SABG, and we are excited to begin working together to build on each company's respective strengths. I look forward to joining the Board of SABG and continuing to ensure we remain the leader in the team sports sock market."
Nick Barker, Partner at Huron Capital, added, "We like the team sports market, and believe it's relatively stable from a fashion trend standpoint. We look forward to working with the SABG team to integrate these two businesses, and continue to seek additional acquisition opportunities for SABG."
About Huron Capital Partners LLC
Based in Detroit, Huron Capital is an operationally-focused private equity firm with a long history of growing lower middle-market companies through our proprietary ExecFactor® buy-and-build investment model. We prefer complex situations where we can help companies reach their full potential by combining our operational approach, substantial capital base, and transaction experience with seasoned operating executives. Founded in 1999, Huron Capital has raised over $1.1 billion in capital through four committed private equity funds and invested in over 120 companies, and our portfolio companies have employed over 11,000 people throughout North America. The Huron Capital buy-and-build investment model includes equity recapitalizations, family succession transactions, market-entry strategies, corporate carve-outs, and management buyouts of companies having revenues up to $200 million. Huron Capital targets both majority and less-than-majority equity stakes in fundamentally-sound companies that can benefit from the firm's operational approach to creating value. Huron Capital's sector focus includes business services, consumer products & services and specialty manufacturing. For more information, please visit www.huroncapital.com.
Headquartered in Advance, NC, Sock & Accessory Brands Global is a hosiery and accessories design, product development and distribution company focused on performance, style, innovation and development. The SABG team has thorough technical expertise in product, promotional material and retail display, shipping over a million units of goods every month to dozens of customers domestically and internationally. For more information, please visit www.wearsabg.com.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/huron-capitals-sabg-acquires-twin-city-knitting-300358035.html
SOURCE Huron Capital Partners LLC