Investment Summary

Main Street Resources and Rainbow Capital Invest In Classic Tuxedo

On February 1, 2005, private equity firms Main Street Resources and Rainbow Capital invested in apparel/textiles company Classic Tuxedo

Investment Highlights
  • This is Main Street Resources’ 2nd and Rainbow Capital’s 1st transaction in the Apparel/Textiles sector.
  • This is Main Street Resources’ 3rd and Rainbow Capital’s 1st transaction in the United States.
  • This is Main Street Resources’ 2nd and Rainbow Capital’s 1st transaction in Massachusetts.

Investment Summary
Date 2005-02-01
Target Classic Tuxedo
Sector Apparel/Textiles
Investor(s) Main Street Resources
Rainbow Capital
Deal Type Growth Capital

Target

Classic Tuxedo

Beverly, Massachusetts, United States
Classic Tuxedo is an operator of the formalwear rental industry that provides custom made Tuxedo & Suits. Classic operates 15 tuxedo rental locations in Massachusetts, Maine, and Rhode Island. Classic Tuxedo was founded in 1991 and is based in Beverly, Massachusetts.

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Investor(S) 2

Investor

Main Street Resources

Westport, Connecticut, United States

Investor

Category Private Equity Firm
Founded 1998
Size Small
Type Sector Agnostic
DESCRIPTION

Main Street Resources is a private equity firm that targets controlling or minority investments in middle-market businesses located in the Northeast US. Main Street typically invests $2 to $10 million in companies with $10 to $75 million of revenue. Prospective transaction situations include privatizations, management buy-outs, the funding of growth capital and add-on acquisitions, and buyouts of passive or unproductive shareholders. Main Sreet will not invest in startups, technology companies or turnarounds. Main Street Resources was formed in 1998 and is based in Westport, Connecticut.

DEAL STATS #
Overall 4 of 9
Sector (Apparel/Textiles) 2 of 2
Type (Growth Capital) 1 of 2
State (Massachusetts) 2 of 3
Country (United States) 3 of 8
Year (2005) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-10-13 Glass America

Chicago, Illinois, United States

Glass America conducts an automobile glass repair and replacement business in 22 states.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-03-31 Davis-Standard

Pawcatuck, Connecticut, United States

Davis-Standard designs develop and manufacture extrusion systems and process controls for the flexible web converting, plastics processing, and rubber industries. Davis-Standard manufactures extrusion equipment for the blown film, blow molding, cast film, extrusion coating and laminating, and other applications. Davis-Standard was founded in 1848 and is based in Pawcatuck, Connecticut.

Buy -
Investor

Rainbow Capital

Upper Saddle River, New Jersey, United States
Category Private Equity Firm
Founded 2001
Size Small
Type Sector Agnostic
DESCRIPTION

Rainbow Capital is a private investment firm that targets lower middle-market company investments. Rainbow seeks companies with operating cash flow of at least $2 million as well as established products operating in defensible markets. Rainbow prefers opportunities located in the mid-Atlantic and Northeast region of the US and will not invest in high technology, retail, real estate dependent industries, or commodity driven businesses. Rainbow Capital is based in Upper Saddle River, New Jersey.

DEAL STATS #
Overall 1 of 3
Sector (Apparel/Textiles) 1 of 1
Type (Growth Capital) 1 of 1
State (Massachusetts) 1 of 1
Country (United States) 1 of 3
Year (2005) 1 of 2
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-06-01 NPS

Secaucus, New Jersey, United States

NPS is a distributor of rigid packaging products to industrial end-users with a specific focus on customers in the food, flavor, and fragrance industries. NPS was founded in 1985 and is based in Secaucus, New Jersey.

Buy -
Mergr

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