M&A Deal Summary

Fastech Asia Worldwide Acquires S&S Industries

On January 1, 2016, Fastech Asia Worldwide acquired apparel/textiles company S&S Industries from Nancy Creek Capital Management and Source Capital

Acquisition Highlights
  • This is Fastech Asia Worldwide’s 1st transaction in the Apparel/Textiles sector.
  • This is Fastech Asia Worldwide’s 1st transaction in the United States.
  • This is Fastech Asia Worldwide’s 1st transaction in New York.

M&A Deal Summary

Date 2016-01-01
Target S&S Industries
Sector Apparel/Textiles
Buyer(s) Fastech Asia Worldwide
Sellers(s) Nancy Creek Capital Management
Source Capital
Deal Type Add-on Acquisition

Target

S&S Industries

Yonkers, New York, United States
S&S Industries, Inc. is a manufacturer of brassiere underwire. The company operates manufacturing facilities in Central America and Asia to supply its customers’ global operations. S&S drives innovation in the industry by designing products that enhance the wearability, style, and durability of underwire bras. S&S Industries was founded in 1947 and is based in Yonkers, New York.

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Buyer(S) 1

Buyer

Fastech Asia Worldwide

Kowloon, China

Category Company
Founded 2002
Sector Apparel/Textiles
DESCRIPTION

Fastech Asia Worldwide Ltd. is a supplier of accessories and components for underwear, lingerie, and swimwear. Fastech Asia Worldwide Ltd. was founded in 2002 and is based in Kowloon, Hong Kong.


DEAL STATS #
Overall 1 of 1
Sector: Apparel/Textiles M&A 1 of 1
Type: Add-on Acquisition M&A Deals 1 of 1
State: New York M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2016 M&A 1 of 1

Seller(S) 2

SELLER

Nancy Creek Capital Management

Atlanta, Georgia, United States

Investor Investor


Category Mezzanine Finance Firm
Founded 2005
PE ASSETS 138M USD
Size Small
Type Sector Agnostic
DESCRIPTION

Nancy Creek Capital (NCP) is a provider of equity and mezzanine capital to small and medium-sized companies throughout the Southeast US. NCP focuses profitable businesses with experienced management teams. The Firm targets companies with $10 to $100 million in sales and at least $1 million in EBITDA. NCP looks to invest $1 to $5 million per transaction (up to $10 million with co-investors). Areas of interest include manufacturing, healthcare, distribution, services, and technology. In addition to funding businesses, NCP also provides financing for real estate opportunities, including commercial, industrial, office, single and multi-family residential projects. The Firm will not invest in startups or turnaround situations. Nancy Creek Capital is a unit of The Branch-Shelton Company LLC. The Firm was formed in 2005 and is based in Atlanta, Georgia.


DEAL STATS #
Overall 3 of 5
Sector: Apparel/Textiles M&A 1 of 1
Type: Add-on Acquisition M&A Deals 2 of 4
State: New York M&A 1 of 1
Country: United States M&A 3 of 5
Year: 2016 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-08-04 Relevate

Springfield, Virginia, United States

Relevate provides robust data solutions and data-management services. Relevate is based in Springfield, Virginia.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-06-25 Gasko Fabricated Products Co.

Middlefield, Ohio, United States

Gasko Fabricated Products Co. is a specialist in die-cutting nonmetallic materials with custom fabrication capabilities, Gasko offers a variety of products and processes that utilize a broad breadth of materials. Gasko Fabricated Products is based in Middlefield, Ohio.

Sell -
SELLER

Source Capital

Atlanta, Georgia, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2002
Size Small
Type Sector Agnostic
DESCRIPTION

Source Capital is a private equity firm that invests in mature, smaller companies in a variety of sectors. The Firm generally looks to support management-backed leveraged acquisitions, recapitalizations, growth financings, and various turnaround situations. Source Capital's broad industry focus includes business services, consumer, distribution/supply, healthcare, and light manufacturing. The Firm prefers control investments, but will selectively review minority situations. Target companies are typically profitable with at least $2 million in EBITDA. Source Capital will not invest in venture deals, high tech, or real estate. Source Capital was formed in 2002 and is based in Atlanta, Georgia.


DEAL STATS #
Overall 9 of 19
Sector: Apparel/Textiles M&A 2 of 3
Type: Add-on Acquisition M&A Deals 3 of 8
State: New York M&A 1 of 1
Country: United States M&A 9 of 19
Year: 2016 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-08-20 CRH Healthcare

Atlanta, Georgia, United States

CRH Healthcare is a patient-focused operator of urgent care centers in Georgia, Florida, and Alabama. CRH operates a "family of brands", leveraging a different brand name in each state, while always being focused on the CRH Mission, "to deliver the Perfect Patient Experience every time". To achieve this mission, everything they do is focused on the 5 C's: Convenient, Courteous, Caring, Competent, and Compliant. All of CRH's clinics are equipped to help diagnose and treat a wide range of non-life-threatening illnesses and injuries as well as to provide occupational health services to local employers. CRH Healthcare was founded in 2012 and headquartered in Atlanta, Georgia.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-06-13 Abutec

Kennesaw, Georgia, United States

Abutec LLC is a manufacturer of emission control products serving various industry segments including oil & gas, landfill and wastewater treatment. Abutec was founded in 2012 and is based in Kennesaw, Georgia.

Sell -