M&A Deal Summary

Aiglon Capital Management and Merit Capital Partners Acquire Nester Hosiery

On June 16, 2017, private equity firm Aiglon Capital Management and mezzanine finance firm Merit Capital Partners acquired apparel/textiles company Nester Hosiery

Acquisition Highlights
  • This is Aiglon Capital Management’s 1st and Merit Capital Partners’ 2nd transaction in the Apparel/Textiles sector.
  • This is Aiglon Capital Management’s 6th and Merit Capital Partners’ 79th transaction in the United States.
  • This is Aiglon Capital Management’s 2nd and Merit Capital Partners’ 3rd transaction in North Carolina.

M&A Deal Summary
Date 2017-06-16
Target Nester Hosiery
Sector Apparel/Textiles
Buyer(s) Aiglon Capital Management
Merit Capital Partners
Deal Type Buyout (LBO, MBO, MBI)

Target

Nester Hosiery

Mount Airy, North Carolina, United States
Nester Hosiery manufactures premium performance outdoor wool socks. Nester Hosiery produces private label, licensed and branded socks under its Ballston and Farm to Feet brands. Nester Hosiery was founded in 1993 and is based in Mount Airy, North Carolina.

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Buyer(S) 2

Buyer

Aiglon Capital Management

Durham, North Carolina, United States

Investor

Category Private Equity Firm
Founded 2014
Size Small
Type Sector Agnostic
DESCRIPTION

Aiglon Capital Management is a private equity firm focused on lower middle-market investments in the low-tech manufacturing, distribution, and services sectors. Aiglon prefers companies in the Southeast US with revenues of $50 to $150 million and EBITDA of $5 to $15 million. Aiglon Capital Management was formed in 2014 and is headquartered in Durham, North Carolina.

DEAL STATS #
Overall 6 of 9
Sector (Apparel/Textiles) 1 of 2
Type (Buyout (LBO, MBO, MBI)) 5 of 7
State (North Carolina) 2 of 3
Country (United States) 6 of 9
Year (2017) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-03-15 Carpe

Durham, North Carolina, United States

Carpe is a manufacturer of antiperspirant hand and foot lotion for the treatment of Hyperhidrosis. Carpe was founded in 2014 and is based in Durham, North Carolina.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-06-30 Carter-Waters Construction Materials

Overland Park, Kansas, United States

Carter-Waters Construction Materials is a distributor of construction supply materials. Carter-Waters offers 17 locations across Missouri, Kansas, Illinois, Ohio, Kentucky, & Indiana to serve customers’ construction material and equipment needs. Carter-Waters also maintains an extensive rental inventory of concrete forming and shoring products, operates a custom rebar fabrication facility, manufactures special asphalt product at the Saturock Plant and provides estimating and detailing services for bid lettings.

Sell -
Buyer

Merit Capital Partners

Chicago, Illinois, United States

Investor Investor Investor Investor Investor

Category Mezzanine Finance Firm
Founded 1993
PE ASSETS 2.2B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Merit Capital Partners is a private investment firm that targets investments in middle market manufacturing, distribution, and service based businesses. Merit looks for companies generating at least $25 million in sales and at least $4 million in EBITDA. Merit can provide both equity and junior capital financing and looks to commit at least $15 million per transaction. Prospective transaction situations include management buyouts, recapitalizations, growth financings, divestitures, unsponsored transactions, and ESOPs. Merit Capital will not invest in start-ups, turnarounds, real estate, specialty retail, or oil/gas opportunities. Merit Capital was originally known as William Blair Mezzanine Capital and became independent in 2004. Merit was formed in 1993 and is based in Chicago, Illinois.

DEAL STATS #
Overall 80 of 98
Sector (Apparel/Textiles) 2 of 3
Type (Buyout (LBO, MBO, MBI)) 49 of 62
State (North Carolina) 3 of 3
Country (United States) 79 of 97
Year (2017) 2 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-06-06 Structural & Steel Products

Fort Worth, Texas, United States

Structural & Steel Products is a manufacturer and distributor of products used in the highway construction end-market, including overhead sign structures, guardrails, crash cushions, lighting poles and bridge decking. The Company manufactures tubular structures used in the communication and power transmission industries. Structural & Steel Products was founded in 1969 and is based in Fort Worth, Texas.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-06-30 Carter-Waters Construction Materials

Overland Park, Kansas, United States

Carter-Waters Construction Materials is a distributor of construction supply materials. Carter-Waters offers 17 locations across Missouri, Kansas, Illinois, Ohio, Kentucky, & Indiana to serve customers’ construction material and equipment needs. Carter-Waters also maintains an extensive rental inventory of concrete forming and shoring products, operates a custom rebar fabrication facility, manufactures special asphalt product at the Saturock Plant and provides estimating and detailing services for bid lettings.

Sell -
Mergr

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