M&A Deal Summary

Mill Road Capital and The Blackstone Group Acquire RG Barry Bands

On May 5, 2014, private equity firms Mill Road Capital and The Blackstone Group acquired apparel/textiles company RG Barry Bands for 215M USD

Acquisition Highlights
  • This is Mill Road Capital’s 1st and The Blackstone Group’s 6th transaction in the Apparel/Textiles sector.
  • This is Mill Road Capital’s and The Blackstone Group’s 148th largest (disclosed) transaction.
  • This is Mill Road Capital’s 6th and The Blackstone Group’s 112th transaction in the United States.
  • This is Mill Road Capital’s 1st and The Blackstone Group’s 3rd transaction in Ohio.
Investment Fate
  • RG Barry Bands was sold to a consortium of financial buyers in 2024.

M&A Deal Summary

Date 2014-05-05
Target RG Barry Bands
Sector Apparel/Textiles
Buyer(s) Mill Road Capital
The Blackstone Group
Deal Type Going Private
Deal Value 215M USD
Advisor(s) Solomon Partners (Financial)
Vorys, Sater, Seymour and Pease (Legal)

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

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 8 of 14
Sector (Apparel/Textiles) 1 of 2
Type (Going Private) 4 of 5
State (Ohio) 1 of 2
Country (United States) 6 of 11
Year (2014) 2 of 2
Size (of disclosed) 1 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-03-18 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.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-12-15 Vision7 International

Quebec City, Quebec, Canada

Vision7 is a fully integrated marketing communications company that serves various well-known brands in North America and worldwide. Vision7 has four operating divisions: Cossette, Vision7 Media, Citizen Relations and Dare. Cossette is Canada’s biggest marketing communications agency that provides fully integrated advertising services; Cossette has offices in Quebec City, Montreal, Toronto, Vancouver, Halifax and Chicago. Vision7 Media is Canada’s largest independent media planning, buying group, operating primarily under the Cossette Media and Jungle Media brands; Citizen Relations is a leading public relations company with an international presence (US, Canada and UK) and multiple global partnerships; Dare is a digital-based agency that focuses on advertising, digital marketing, Internet communications and social media. Vision7 International was founded in 2010 and is based in Quebec City, Canada.

Sell -
Buyer

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 City.


DEAL STATS #
Overall 174 of 335
Sector (Apparel/Textiles) 6 of 7
Type (Going Private) 16 of 36
State (Ohio) 3 of 5
Country (United States) 112 of 210
Year (2014) 5 of 16
Size (of disclosed) 148 of 171
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-04-24 Biomet

Warsaw, Indiana, United States

Biomet, Inc. is a designs and manufactures orthopedic medical devices and other products used primarily by surgeons and medical specialists, with distribution in over 70 countries and a product portfolio that encompasses orthopedic joint replacement products, dental reconstructive implants, fixation devices, spinal products and other applications.

Sell $13.4B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-06-02 Cloud Theory

New York, New York, United States

Cloud Theory is a technology firm specializing in cloud-based client-facing solutions, with significant expertise in financial services. Cloud Theory provides enterprise level consulting and delivery services in the following areas: develop strategic roadmaps, optimize business processes, engineer custom Salesforce-based solutions and provide ongoing managed services to support the full lifecycle of a firm’s interaction with their clients.

Buy -