M&A Deal Summary

Huron Capital and NewSpring Capital Acquire IQ Brands

On November 1, 2011, private equity firms Huron Capital and NewSpring Capital acquired apparel/textiles company IQ Brands

Acquisition Highlights
  • This is Huron Capital’s 2nd and NewSpring Capital’s 2nd transaction in the Apparel/Textiles sector.
  • This is Huron Capital’s 23rd and NewSpring Capital’s 60th transaction in the United States.
  • This is Huron Capital’s 1st and NewSpring Capital’s 2nd transaction in North Carolina.

M&A Deal Summary
Date 2011-11-01
Target IQ Brands
Sector Apparel/Textiles
Buyer(s) Huron Capital
NewSpring Capital
Deal Type Buyout (LBO, MBO, MBI)

Target

IQ Brands

Advance, North Carolina, United States
website
IQ Brands is a designer and distributor of fashion casual and athletic socks. IQ Brands industry-renowned in-house design team captures the latest trends in the colored and patterned sock category and sells private label, licensed, and branded merchandise to specialty footwear retailers, sporting goods stores, department stores, and discount retailers. IQ Brands was founded in 1999 and is based in Advance, North Carolina.

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Buyer(S) 2

Buyer

Huron Capital

Detroit, Michigan, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1999
PE ASSETS 1.8B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Huron Capital Partners is a private equity firm that seeks to acquire or recapitalize niche manufacturers, value-added distributors and specialty service companies. Prospective transaction situations include management buyouts, corporate spin-offs, recapitalizations, family successions and consolidations. Huron prefers opportunities located in the US and Canada. Target companies typically have revenues between $20 and $200 million and EBITDA of at least $5 million. Huron can commit up to $10 million and $50 million of equity capital per transaction. Huron Capital Partners was formed in 1999 and has offices in Detroit, Michigan and Ontario, Canada.

DEAL STATS #
Overall 26 of 62
Sector (Apparel/Textiles) 2 of 2
Type (Buyout (LBO, MBO, MBI)) 15 of 23
State (North Carolina) 1 of 2
Country (United States) 23 of 59
Year (2011) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-06-30 Michigan Orthopedic Services

Livonia, Michigan, United States

Headquartered in Livonia, MI, Michigan Orthopedic Services operates a network of patient care centers that design, fit and fabricate custom orthotic and prosthetic ('O&P') devices for patients requiring artificial limbs as a result of amputation or a congenital birth defect (prosthetics) or external support as a result of musculoskeletal disorders or injury (orthotics).

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-11-30 Tectrans

Los Angeles, California, United States

Tectrans provides passenger ground transportation solutions for governmental agencies, medical and senior care organizations, the private sector and individual consumers. Tectrans’ services include paratransit (including service mandated by the Americans with Disabilities Act), fixed route shuttles, taxi, non-emergency medical transit, brokerage/call center management, and other transportation support services.

Sell -
Buyer

NewSpring Capital

Radnor, Pennsylvania, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1999
PE ASSETS 1.7B USD
Size Large
Type Sector Agnostic
DESCRIPTION

NewSpring Capital is a private investment firm focused on growth companies in the Mid-Atlantic US. The Firm can provide both growth equity and junior capital to prospective companies. NewSpring's target investment size for both mezzanine and equity financing is $2 to $5 million, although for new ventures, the Firm can commit up to $10 million. Sectors of interest include specialty manufacturing, technology, business services, information technology, life science, healthcare services, and medical devices. NewSpring Capital was formed in 1999 and is based in Radnor, Pennsylvania with an additional office in Short Hills, New Jersey.

DEAL STATS #
Overall 61 of 184
Sector (Apparel/Textiles) 2 of 2
Type (Buyout (LBO, MBO, MBI)) 17 of 37
State (North Carolina) 2 of 3
Country (United States) 60 of 180
Year (2011) 10 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-10-17 Cellucap Manufacturing

Philadelphia, Pennsylvania, United States

Cellucap Manufacturing Co. manufactures and sells disposable apparel for foodservice, industrial, safety, healthcare, and critical environments. Its products include chef hats, hairnets, koronets, bouffants, caps, gloves, aprons, visor caps, sleeves, bibs, coats, jackets, shirts, pants, coveralls, jumpsuits, smocks, shoe and boot covers, gowns, and accessories and dispensers. The Company was founded in 1954 and is based in Philadelphia, Pennsylvania.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-11-30 NitroSecurity

Portsmouth, New Hampshire, United States

NitroSecurity is a provider of intrusion prevention systems (IPS), one of the fastest-growing network security segments. In contrast to traditional detection methods that react to infiltrations after they've occurred, intrusion prevention systems can proactively block attacks in real time before they enter a corporate network. NitroSecurity combines considerable research and development depth with top-notch sales and marketing talent ? a rare combination for early-stage security entities.

Sell -
Mergr

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