M&A Deal Summary

S&S Activewear Acquires TSC Apparel

On November 23, 2021, S&S Activewear acquired distribution company TSC Apparel from CenterGate Capital

Acquisition Highlights
  • This is S&S Activewear’s 1st transaction in the Distribution sector.
  • This is S&S Activewear’s 2nd transaction in the United States.
  • This is S&S Activewear’s 1st transaction in Ohio.

M&A Deal Summary
Date 2021-11-23
Target TSC Apparel
Sector Distribution
Buyer(s) S&S Activewear
Sellers(s) CenterGate Capital
Deal Type Add-on Acquisition
Advisor(s) McDermott Will & Emery (Legal)

Target

TSC Apparel

Blue Ash, Ohio, United States
TSC Apparel is a national B2B distributor of imprintable apparel products and accessories. TSC stocks and sources thousands of styles of casual shirts, fleeces, headwear, sport shirts, outerwear, and accessories from six warehouses nationwide and three warehouses in China. TSC Apparel was founded in 2000 and is based in Blue Ash, Ohio.

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Buyer(S) 1

Buyer

S&S Activewear

Bolingbrook, Illinois, United States
Category Company
Founded 1988
Sector Distribution
DESCRIPTION

S&S Activewear is a wholesale supplier to the imprinted sportswear industry. S&S Activewear was founded in 1988 and is based in Bolingbrook, Illinois.

DEAL STATS #
Overall 2 of 3
Sector (Distribution) 1 of 1
Type (Add-on Acquisition) 2 of 3
State (Ohio) 1 of 1
Country (United States) 2 of 3
Year (2021) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-12-12 EVATees

Piscataway Township, New Jersey, United States

EvaTees, Inc. is a wholesale supplier to the imprinted sportswear industry primarily serving customers in the Northeastern United States.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-01-03 Locale Outdoor

Englewood, Colorado, United States

Locale Outdoor is a sportswear and headwear designer and distributor of customized casual apparel and headwear to an ever-growing list of customers in the resort, collegiate, golf, and specialty retail markets. Locale Outdoor is based in Englewood, Colorado.

Sell -

Seller(S) 1

SELLER

CenterGate Capital

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2014
PE ASSETS 740M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

CenterGate Capital is a private equity firm focused on improving and growing lower middle market companies. The Firm looks to partner with companies generating $20 to $250 million in revenues. Sectors of interest include business services, industrials, energy services, consumer, and healthcare services. Prospective transaction situations include buyouts, divestitures, recapitalizations, shareholder liquidity needs, and restructurings. CenterGate Capital was founded in 2014 and is based in Austin, Texas.

DEAL STATS #
Overall 3 of 4
Sector (Distribution) 1 of 1
Type (Add-on Acquisition) 1 of 2
State (Ohio) 1 of 1
Country (United States) 3 of 3
Year (2021) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-15 Owen Equipment

Portland, Oregon, United States

Owen Equipment is a provider of specialty equipment platforms providing critical infrastructure solutions to municipal, utility, and commercial customers throughout the western United States. Owen serves as a dealer of new and pre-owned equipment, provides related parts and maintenance services, and maintains a large fleet of rental equipment used for sewer maintenance, hydro/vacuum excavation, street cleaning, and waste management applications. Owen Equipment was founded in 1958 and is based in Portland, Oregon.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-06-03 Rasmussen

Seattle, Washington, United States

Rasmussen supplies construction companies, barge and tugboat operators, marine contractors, the timber and logging industry, fishing companies, and general contractors of all kinds, an extensive line of industrial grade, marine construction products for rent and for purchase. Rasmussen was formed in 1936 and is based in Seattle, Washington.

Buy -
Mergr

Product

Company

Legal