M&A Deal Summary

Hanes Acquires Gear For Sports

On November 1, 2010, Hanes acquired apparel/textiles company Gear For Sports from TJC and NewCastle Partners for 55M USD

Acquisition Highlights
  • This is Hanes’ 2nd transaction in the Apparel/Textiles sector.
  • This is Hanes’ 6th largest (disclosed) transaction.
  • This is Hanes’ 1st transaction in the United States.
  • This is Hanes’ 1st transaction in Kansas.

M&A Deal Summary

Date 2010-11-01
Target Gear For Sports
Sector Apparel/Textiles
Buyer(s) Hanes
Sellers(s) TJC
NewCastle Partners
Deal Type Add-on Acquisition
Deal Value 55M USD

Target

Gear For Sports

Lenexa, Kansas, United States
website
Gear For Sports, Inc. is a seller of licensed logo apparel in collegiate bookstores and other channels.

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Buyer(S) 1

Buyer

Hanes

Winston-Salem, North Carolina, United States

website


Category Company
Founded 1901
Sector Apparel/Textiles
Employees50,000
Revenue 6.2B USD (2022)
DESCRIPTION
Entrance to Hanesbrands' corporate headquarters in Winston-Salem, North Carolina.
Entrance to Hanesbrands' corporate headquarters in Winston-Salem, North Carolina.

Hanes is a consumer goods company with a portfolio of apparel brands, including Hanes, Champion, C9 by Champion, Bali, Playtex, Just My Size, L’eggs, barely there, Wonderbra, Gear for Sports, Zorba, Sol y Oro and Rinbros. Hanesbrands designs, manufactures, sources and sells a broad range of basic apparel such as T-shirts, bras, panties, men’s underwear, kids’ underwear, casualwear, activewear, socks and hosiery. Hanesbrands was formed in 2005 and spun-off from Sara Lee Corp. in 2006. Hanes was founded in 1901 and is basd in Winston-Salem, North Carolina.


DEAL STATS #
Overall 2 of 9
Sector (Apparel/Textiles) 2 of 7
Type (Add-on Acquisition) 2 of 9
State (Kansas) 1 of 1
Country (United States) 1 of 4
Year (2010) 1 of 1
Size (of disclosed) 6 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-08-30 Industrias Duraflex S.A. de C.V.

San Salvador, El Salvador

Industrias Duraflex S.A. de C.V. is a manufacturer and distributor of cotton fabrics for the textile clothing industry.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-10-07 Maidenform Brands

Iselin, New Jersey, United States

Maidenform Brands, Inc., is a seller of bras, shapewear and panties under brands such as Maidenform, Flexees, Lilyette, Self Expressions and Sweet Nothings, as well as Donna Karan.

Buy $583M

Seller(S) 2

SELLER

TJC

New York, New York, United States

website


Category Private Equity Firm
Founded 1982
PE ASSETS 14.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

TJC is a private investment firm that specializes in acquiring North American middle-market businesses operating in basic industries. TJC specifically looks to provide liquidity for shareholders, raise capital for corporate growth and 'create significant equity opportunities for key management'. TJC will consider opportunities valued from $100 million to $2 billion in a wide variety of industries. Sectors of interest include aerospace/defense, automotive, building products, chemicals, consumer products, distribution, energy, financial services, healthcare, industrial products, insurance, metals, packaging, retail, transportation/logistics, and telecom. TJC was formerly known as The Jordan Company. The Firm was formed in 1982 and is based in New York City.


DEAL STATS #
Overall 22 of 57
Sector (Apparel/Textiles) 1 of 1
Type (Add-on Acquisition) 10 of 21
State (Kansas) 1 of 1
Country (United States) 22 of 55
Year (2010) 2 of 2
Size (of disclosed) 12 of 12
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-08-16 Milestone Aviation Group

Columbus, Ohio, United States

Milestone Aviation Group Limited ("Milestone") is the first global aircraft leasing company exclusively focused on helicopters and private jets. Headquartered in Dublin, Ireland, Milestone will be led by Rich Santulli, founder of NetJets and RTS Helicopters. Milestone provides aircraft owners and operators worldwide with personalized financing options not otherwise available.

Buy $550M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-06-13 ProMach

Covington, Kentucky, United States

ProMach is a provider of complete packaging machinery solutions, engineering and integration services, and related aftermarket products and services. ProMach brands operate across the entire packaging spectrum: filling and capping, flexibles, pharma, product handling, labeling and coding, and end of line. ProMach also provides Performance Services including integrated solutions, design/build, engineering services, and productivity software to optimize packaging line design and deliver maximum uptime. ProMach was founded in 1998 and is based in Covington, Kentucky.

Buy -
SELLER

NewCastle Partners

Greenwich, Connecticut, United States

Investor

website


Category Private Equity Firm
Founded 2001
Size Small
Type Sector Focused
DESCRIPTION

NewCastle Partners is an independent investment firm focused on acquiring smaller middle-market companies in partnership with management. The Firm targets profitable, US-based businesses with defensible market positions. Prospective companies generally have at least $2 million in EBITDA and generate sales of $10 to $50 million. Sectors of interest include niche manufacturing and specialty distribution. Target transactions include recapitalizations, buyouts, growth capital financings, and consolidations. NewCastle was formed in 2001 and is based in Greenwich, Connecticut.


DEAL STATS #
Overall 15 of 16
Sector (Apparel/Textiles) 2 of 2
Type (Add-on Acquisition) 9 of 10
State (Kansas) 1 of 1
Country (United States) 15 of 16
Year (2010) 2 of 2
Size (of disclosed) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-10-07 Apparel Ventures

Los Angeles, California, United States

Apparel Ventures, Inc. designs, manufactures and markets branded women's swimwear.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-10-09 World Dryer

Berkeley, Illinois, United States

World Dryer Corp. is a manufacturer and worldwide distributor of warm air hand dryers for commercial bathrooms. World Dryer was founded in 1948 and is based in Berkeley, Illinois.

Sell -