M&A Deal Summary

Branford Castle Partners and Siguler Guff & Company Acquire Handi Quilter

On June 6, 2022, private equity firm Branford Castle Partners and asset manager Siguler Guff & Company acquired machinery company Handi Quilter from Premier Needle Arts

Acquisition Highlights
  • This is Branford Castle Partners’ 1st and Siguler Guff & Company’s 1st transaction in the Machinery sector.
  • This is Branford Castle Partners’ 16th and Siguler Guff & Company’s 4th transaction in the United States.
  • This is Branford Castle Partners’ 1st and Siguler Guff & Company’s 1st transaction in Utah.

M&A Deal Summary
Date 2022-06-06
Target Handi Quilter
Sector Machinery
Buyer(s) Branford Castle Partners
Siguler Guff & Company
Sellers(s) Premier Needle Arts
Deal Type Divestiture
Advisor(s) Stifel, Nicolaus & Co., Inc. (Financial)

Target

Handi Quilter

North Salt Lake, Utah, United States
Handi Quilter develops and manufactures branded and OEM quilting machines, frames, tables, computerized quilting systems, and quilting accessories. The company's products are primarily used in the home by dedicated quilting enthusiasts as well as by quilters with home-based businesses. Handi Quilter was founded in 1998 and is based in North Salt Lake, Utah.

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Buyer(S) 2

Buyer

Branford Castle Partners

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1986
PE ASSETS 200M USD
Size Small
Type Sector Agnostic
DESCRIPTION

Branford Castle is a private investment firm that seeks investments in traditional companies with stable cash flows. Branford Castle prefers investing in 'old economy' businesses valued up to $100 million. Brandford will consider public or private companies, but the Firm will not invest in bankrupt, turnaround, or distressed situations. Sectors of interest include manufacturing, commercial distribution, services, consumer products, publishing, restaurants, and infrastructure. Branford Castle was formed in 1986 and is based in New York City.

DEAL STATS #
Overall 17 of 20
Sector (Machinery) 1 of 1
Type (Divestiture) 3 of 5
State (Utah) 1 of 1
Country (United States) 16 of 19
Year (2022) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-02-09 Fibrix Filtration

Mooresville, North Carolina, United States

Fibrix Filtration is a manufacturer of air filtration products. Fibrix Filtration products are pivotal in optimizing the performance of commercial and industrial HVAC systems, leading to enhanced system efficiency, lower energy costs, and improved air quality. Fibrix Filtration is based in Mooresville, North Carolina.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-01-30 GPT

Wheat Ridge, Colorado, United States

GPT produces critical-service flange isolation kits (FIKs) and monolithic isolation joints (MIJs) for oil, natural gas, and water pipeline applications globally. The company's patented, highly engineered products help prevent the causes of pipeline failures and protect against potential explosions, fires, and pollution. Its "Pikotek" brand is known as the pioneer of the flange isolation gasket industry and is recognized as the original brand to have introduced FIKs to the broader market in the 1980s. GPT is based in Wheat Ridge, Colorado.

Buy -
Buyer

Siguler Guff & Company

Investor Investor Investor Investor Investor

Category Asset Manager
Founded 1991
PE ASSETS 16.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Siguler Guff & Company is a multi-strategy investment manager that provides institutional clients with access to a variety of investment programs including distressed, real estate, small business, emerging markets, and other strategies. Siguler's small business group looks to acquire or investment in US-based, lower middle-market companies in a variety of industries with $5 to $25 million of EBITDA. Siguler Guff & Company was established in 1991 as a unit of Pain Webber and became independent in 1995. The Firm is based in New York City.

DEAL STATS #
Overall 4 of 7
Sector (Machinery) 1 of 1
Type (Divestiture) 1 of 1
State (Utah) 1 of 1
Country (United States) 4 of 7
Year (2022) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-02-07 ASW Partner

Pittsburgh, Pennsylvania, United States

ASW is a wholesale warehouse distributor of automotive allied products to the collision repair value chain. The Company, through its five (5) strategically located warehouses, consolidates 300+ core vendors to offer tens of thousands of unique products, including key automotive product categories such as paint & coatings, abrasives, tools & equipment, tape, painting cups & filters, and primer. ASW was founded in 1978 and is headquartered in Pittsburgh, Pennsylvania.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-09-28 Solvd

Roseville, California, United States

Solvd is a global technology consultancy and software engineering company that has built a core competency in software QA and test automation consulting and its solutions have broadened to include custom app development, DevOps, and AR/VR development among other solutions which the Company has developed to meet their client's growing needs. Solvd was founded in 2011 and is based in Roseville, Carlifornia.

Buy -

Seller(S) 1

SELLER

Premier Needle Arts

Vancouver, Washington, United States
Category Company
Founded 2014
Sector Apparel/Textiles
DESCRIPTION

Premier Needle Arts is a provider of quilting products to a global network of independent quilting stores, sewing retailers, quilting distributors and dealers, and consumers. Premier Needle Arts was founded in 2014 and is based in Vancouver, Washington.

DEAL STATS #
Overall 1 of 1
Sector (Machinery) 1 of 1
Type (Divestiture) 1 of 1
State (Utah) 1 of 1
Country (United States) 1 of 1
Year (2022) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-02-27 Crafts Americana Group

Vancouver, Washington, United States

Crafts Americana Group, Inc. is a supplier of knitting, crochet, quilting, sewing, and other hobbyist products. Crafts Americana Group was founded in 1990 and is based in Vancouver, Washington.

Buy -
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