M&A Deal Summary

Wind Point Partners and Antares Capital Acquire Twitchell

On August 1, 2000, private equity firms Wind Point Partners and Antares Capital acquired apparel/textiles company Twitchell from Private Equity Capital for 69M USD

Acquisition Highlights
  • This is Wind Point Partners’ 1st and Antares Capital’s 1st transaction in the Apparel/Textiles sector.
  • This is Wind Point Partners’ 7th and Antares Capital’s 4th largest (disclosed) transaction.
  • This is Wind Point Partners’ 6th and Antares Capital’s 2nd transaction in the United States.
  • This is Wind Point Partners’ 1st and Antares Capital’s 1st transaction in Alabama.
Investment Fate
  • Twitchell was sold to a consortium of financial buyers in 2011.
  • Twitchell was sold to a consortium of financial buyers in 2015.
  • Twitchell was sold to a consortium of financial buyers in 2022.

M&A Deal Summary
Date 2000-08-01
Target Twitchell
Sector Apparel/Textiles
Buyer(s) Wind Point Partners
Antares Capital
Sellers(s) Private Equity Capital
Deal Type Secondary Buyout
Deal Value 69M USD
Advisor(s) Consensus Advisors (Financial)

Target

Twitchell

Dothan, Alabama, United States
Twitchell is a manufacturer of fabrics and yarns for outdoor furniture. Twitchell produces custom specialty technical fibers, fabrics and engineered films to meet exacting performance and design requirements that are inputs in a diverse set of end products. Twitchell was founded in 1922 and is based in Dothan, Alabama.

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Buyer(S) 2

Buyer

Wind Point Partners

Chicago, Illinois, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1984
PE ASSETS 7.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Wind Point Partners is a private equity firm focused on acquisitions of mid-sized companies operating in the business services, consumer products, healthcare services, and industrial products sectors. Wind Point looks to invest $60 to $130 million in companies valued up to $500 million. Prospective transaction types include leveraged buyouts, recapitalizations, industry consolidations, and growth capital financings. Wind Point Partners began investing in 1984 and is based in Chicago.

DEAL STATS #
Overall 6 of 83
Sector (Apparel/Textiles) 1 of 1
Type (Secondary Buyout) 1 of 27
State (Alabama) 1 of 1
Country (United States) 6 of 76
Year (2000) 2 of 4
Size (of disclosed) 7 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2000-03-01 LDMI Telecommunications

Southfield, Michigan, United States

LDMI Telecommunications, Inc. is an integrated communications provider serving small and mid-sized businesses in the Great Lakes region. Its services include local and long distance phone service, high speed sDSL Internet connectivity and enhanced products such as conference calling and voice mail.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2000-09-22 Procyon Technologies

Downers Grove, Illinois, United States

Procyon Technologies, Inc. is a designer and manufacturer of precision-engineered pyrotechnic and pneumatic subsystems used in defense and aerospace applications.

Buy -
Buyer

Antares Capital

Miami, Florida, United States

Investor Investor

Category Private Equity Firm
Founded 1993
Size Small
Type Sector Agnostic
DESCRIPTION

Antares Capital is a private investment group that targets growth capital financings as well as management buyout opportunities. The Firm focuses on investments based in the Southeast US and Texas. Prospective companies generally have proven business models, modest capital requirements for growth, and operate in large and growing markets. The Firm looks to commit $500k to $5 million per investment. Antares will not invest in real estate, mineral exploration, distributors, franchisees, or project financings. Antares was founded in 1993 and is based in Miami, Florida.

DEAL STATS #
Overall 2 of 55
Sector (Apparel/Textiles) 1 of 1
Type (Secondary Buyout) 1 of 30
State (Alabama) 1 of 4
Country (United States) 2 of 54
Year (2000) 1 of 1
Size (of disclosed) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1999-12-12 National Product Services

Irving, Texas, United States

National Product Services is a provider of outsourced merchandising services to major consumer product manufacturers and large retail chains nationwide. National Product Services was founded in 1999 and is based Irving, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2001-03-01 Pogo.com

San Francisco, California, United States

Pogo.com is a provider of online gaming website. Pogo.com was founded in 1995 and is based in San Francisco, California.

Buy -

Seller(S) 1

SELLER

Private Equity Capital

Westport, Connecticut, United States
Category Private Equity Firm
Founded 1998
Size Small
Type Sector Agnostic
DESCRIPTION

Private Equity Capital Corporation (PECC) is a private equity firm focused on acquiring privately owned businesses and subsidiaries or divisions of public companies. PECC pursues US-based companies with revenues between $20 and $200 million and at least $2 million of EBIT. Prospective companies generally lead their respective markets and have management willing to stay post acquisition. Sectors of interest include information technology, consumer products, financial services, business process outsourcing, healthcare, information services and publishing. PECC was formed in 1998 and is based in Westport, Connecticut.

DEAL STATS #
Overall 1 of 14
Sector (Apparel/Textiles) 1 of 2
Type (Secondary Buyout) 1 of 8
State (Alabama) 1 of 1
Country (United States) 1 of 14
Year (2000) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2000-07-01 California Tan

Indianapolis, Indiana, United States

California Tan, Inc. is a manufacturer and marketer of premium sun care products in the indoor tanning industry. The company develops and markets luxury indoor lotions and outdoor sunscreens, sunless tanning formulas and after-sun skincare moisturizers.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2001-03-01 AZEK

Chicago, Illinois, United States

AZEK is a manufacturer of beautiful, low-maintenance residential and commercial building products, and is committed to accelerating the use of recyclable materials. The company is completely focused on leveraging our expertise in materials science and its customer-centric approach to engineer and manufacture the most beautiful, most sustainable building products to improve the lives and businesses of our customers. AZEK is based in Chicago, Illinois.

Buy -
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