M&A Deal Summary

Marubeni Growth Capital US and Mill Road Capital Acquire RG Barry Bands

On June 11, 2024, private equity firms Marubeni Growth Capital US and Mill Road Capital acquired apparel/textiles company RG Barry Bands from Mill Road Capital and The Blackstone Group

Acquisition Highlights
  • This is Marubeni Growth Capital US’s 1st and Mill Road Capital’s 2nd transaction in the Apparel/Textiles sector.
  • This is Marubeni Growth Capital US’s 1st and Mill Road Capital’s 11th transaction in the United States.
  • This is Marubeni Growth Capital US’s 1st and Mill Road Capital’s 2nd transaction in Ohio.

M&A Deal Summary
Date 2024-06-11
Target RG Barry Bands
Sector Apparel/Textiles
Buyer(s) Marubeni Growth Capital US
Mill Road Capital
Sellers(s) Mill Road Capital
The Blackstone Group
Deal Type Secondary Buyout

Target

RG Barry Bands

Pickerington, Ohio, United States
RG Barry Bands is a provider of accessories brands and fashionable, solution-oriented products that make life better. RG Barry Brands include Dearfoams slippers, baggallini handbags, totes, travel accessories, and Foot Petals premium insoles and comfort products. RG Barry Bands was founded in 1947 and is based in Pickerington, Ohio.

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Buyer(S) 2

Buyer

Marubeni Growth Capital US

Category Private Equity Firm
Founded 2023
Size Small
Type Sector Focused
DESCRIPTION

DEAL STATS #
Overall 3 of 3
Sector (Apparel/Textiles) 1 of 1
Type (Secondary Buyout) 1 of 1
State (Ohio) 1 of 1
Country (United States) 1 of 1
Year (2024) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-11-17 Oneject

Bogor, Indonesia

Oneject is a manufacturer and seller of medical consumables and devices, and provides services relating to medical equipment. Oneject was founded in 2004 and is based in Bogor, Indonesia.

Buy -
Buyer

Mill Road Capital

Greenwich, Connecticut, United States
Category Private Equity Firm
Founded 2004
PE ASSETS 250M USD
Size Small
Type Sector Agnostic
DESCRIPTION

Mill Road Capital is a private investment firm focused on partnering with publicly traded micro-cap companies in the US and Canada. The Firm pursues a variety of strategies including open market share purchases, block trades, acquisition financing, growth financing, mezzanine financing, as well as sponsoring take privates. Sectors of interest include retail, manufacturing, business services, and consumer products. Mill Road was formed in 2004 by former Blackstone professionals. The Firm is based in Greenwich, Connecticut.

DEAL STATS #
Overall 14 of 14
Sector (Apparel/Textiles) 2 of 2
Type (Secondary Buyout) 1 of 1
State (Ohio) 2 of 2
Country (United States) 11 of 11
Year (2024) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-01 Lignetics

Broomfield, Colorado, United States

Lignetics is a residential wood pellet manufacturing company in the U.S. The company’s innovative eco-friendly offering includes premium wood pellets for super-efficient home heating, barbecue pellets that naturally seal in perfect wood-fired flavor, and a superior all-natural high-performance cat litter. The company delivers these innovative all-natural products through national retail partners and directly to consumers via the only national network of wood pellet manufacturing plants spread across the U.S. and Canada with 22 different plant locations. Lignetics was founded in 1983 and is based in Broomfield, Colorado.

Sell -

Seller(S) 2

SELLER

Mill Road Capital

Greenwich, Connecticut, United States
Category Private Equity Firm
Founded 2004
PE ASSETS 250M USD
Size Small
Type Sector Agnostic
DESCRIPTION

Mill Road Capital is a private investment firm focused on partnering with publicly traded micro-cap companies in the US and Canada. The Firm pursues a variety of strategies including open market share purchases, block trades, acquisition financing, growth financing, mezzanine financing, as well as sponsoring take privates. Sectors of interest include retail, manufacturing, business services, and consumer products. Mill Road was formed in 2004 by former Blackstone professionals. The Firm is based in Greenwich, Connecticut.

DEAL STATS #
Overall 7 of 7
Sector (Apparel/Textiles) 1 of 1
Type (Secondary Buyout) 3 of 3
State (Ohio) 1 of 1
Country (United States) 5 of 5
Year (2024) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-01 Lignetics

Broomfield, Colorado, United States

Lignetics is a residential wood pellet manufacturing company in the U.S. The company’s innovative eco-friendly offering includes premium wood pellets for super-efficient home heating, barbecue pellets that naturally seal in perfect wood-fired flavor, and a superior all-natural high-performance cat litter. The company delivers these innovative all-natural products through national retail partners and directly to consumers via the only national network of wood pellet manufacturing plants spread across the U.S. and Canada with 22 different plant locations. Lignetics was founded in 1983 and is based in Broomfield, Colorado.

Sell -
SELLER

The Blackstone Group

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1987
PE ASSETS 131.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

The Blackstone Group is a global alternative investment management firm. The Firm's investment activities span real estate, secondary investments, hedge funds, credit, infrastructure, and private equity. Blackstone's private equity group targets opportunities globally including buyout acquisitions of established companies, development projects, growth equity financings, and industry consolidations. Sectors of interest include automotive, healthcare, chemicals, industrial, commercial property, lodging, communications, media/publishing, consumer & retail, packaging, consumer products, pharmaceuticals, energy, technology, entertainment, telecommunications, financial services, theme parks, food & beverage, and transportation. Blackstone's private equity real estate group looks for opportunities across North/South America, Asia, Australia/New Zealand, and Europe. The real estate group will consider both equity and debt investments. Areas of interest include healthcare, hotel, industrial, office, residential, and retail. The Blackstone Group was formed in 1987 and is based in New York, New York.

DEAL STATS #
Overall 172 of 174
Sector (Apparel/Textiles) 6 of 6
Type (Secondary Buyout) 21 of 22
State (Ohio) 3 of 3
Country (United States) 104 of 105
Year (2024) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-06-06 Seves Group

Tour Egée, Italy

Seves Group manufactures glass and composite insulators for high and medium power transmission and distribution systems, as well as glass blocks for architectural and interior design applications. Seves Group is based in Firenze, Italy.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-07-15 Air Control Concepts

Norfolk, Virginia, United States

Air Control Concepts is a company that partners with and supports leading commercial HVAC solutions providers. Air Control Concepts is based in Norfolk, Virginia.

Buy -
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