Secondary Buyout • Apparel/Textiles

Mill Road Capital and The Blackstone Group Exit RG Barry Bands

On June 11, 2024, corporate investor Marubeni Growth Capital US and private equity firm Mill Road Capital invested in apparel/textiles company RG Barry Bands from Mill Road Capital and The Blackstone Group

Investment Context
  • 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.

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Investment Summary

Date June 11, 2024
Target RG Barry Bands
Sector Apparel/Textiles
Investor(s) Marubeni Growth Capital US
Mill Road Capital
Sellers(s) Mill Road Capital
The Blackstone Group
Deal Type Secondary Buyout

Target Company

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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Investors Overview 2

DESCRIPTION

Marubeni Growth Capital US is the corporate investment arm of Marubeni Corporation. The Firm does not have any investment horizon and seeks US-based consumer opportunities. Marubeni Growth Capital US is based in Stamford, Connecticut.


Deal Context for Investor #
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 -
Investor

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. The Firm was formed by former Blackstone professionals. Mill Road Capital was founded in 2004 and is based in Greenwich, Connecticut.


Deal Context for Investor #
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
2024-06-05 Rubio s

Carlsbad, California, United States

Rubio's is an operator of a Mexican restaurant chain with over 150 locations. Rubio’s offers a differentiated menu of seafood-based tacos, burritos, and bowls with modern Mexican flavorings. Rubio's was founded in 1983 and is based in Carlsbad, California.

Sell -

Seller Profiles 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. The Firm was formed by former Blackstone professionals. Mill Road Capital was founded in 2004 and is based in Greenwich, Connecticut.


Deal Context for Seller #
Overall 8 of 8
Sector: Apparel/Textiles 1 of 1
Type: Secondary Buyout 3 of 3
State: Ohio 1 of 1
Country: United States 6 of 6
Year: 2024 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-06-05 Rubio s

Carlsbad, California, United States

Rubio's is an operator of a Mexican restaurant chain with over 150 locations. Rubio’s offers a differentiated menu of seafood-based tacos, burritos, and bowls with modern Mexican flavorings. Rubio's was founded in 1983 and is based in Carlsbad, California.

Sell -
SELLER

The Blackstone Group

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1987
PE ASSETS 394.0B 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 Context for Seller #
Overall 180 of 195
Sector: Apparel/Textiles 6 of 6
Type: Secondary Buyout 22 of 28
State: Ohio 3 of 4
Country: United States 108 of 118
Year: 2024 3 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-06-06 Seves Group

Tour Egee, 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 Tour Egee, Italy.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-06-18 Infocom

Tokyo, Japan

Infocom IT solutions provider, specializing in health IT, enterprise systems (like GRANDIT ERP), and digital content, serving healthcare, corporations, and public sectors with services from system development to e-comics. Infocom was founded in Tokyo, Japan.

Buy $1.7B