M&A Deal Summary

Summit Golf Brands Acquires Eastern Pacific Apparel

On December 1, 2005, Summit Golf Brands acquired apparel/textiles company Eastern Pacific Apparel from Florida Capital Partners and KLH Capital

Acquisition Highlights
  • This is Summit Golf Brands’ 1st transaction in the Apparel/Textiles sector.
  • This is Summit Golf Brands’ 1st transaction in the United States.
  • This is Summit Golf Brands’ 1st transaction in New York.

M&A Deal Summary

Date 2005-12-01
Target Eastern Pacific Apparel
Sector Apparel/Textiles
Buyer(s) Summit Golf Brands
Sellers(s) Florida Capital Partners
KLH Capital
Deal Type Add-on Acquisition
Advisor(s) Kurt Salmon Capital Advisors, Inc. (Financial)

Target

Eastern Pacific Apparel

New York, New York, United States
Eastern Pacific Apparel, Inc. is a supplier of authentic branded women’s golf sportswear to the golf distribution channel and the exclusive licensee of the PGA Tour for men’s golf apparel.

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Buyer(S) 1

Buyer

Summit Golf Brands

Shelton, Connecticut, United States

Category Company
Founded 2004
Sector Manufacturing
DESCRIPTION

Summit Golf Brands include Fairway & Greene, EP Pro and Zero Restriction. Each brand was founded in the ‘90s and delivers exceptional quality products, distinguished styles and unprecedented service. Fairway & Greene produces classic golf apparel for men and women. EP PRO has been leading the women’s golf sportswear market for over 15 years. Zero Restriction outerwear provides comfort in all conditions, with Tour proven patented Motion-Tuned technology for full freedom to swing. In 2008 the brands were voted as top vendors by the American Association of Golf Merchandisers. As well as being highly recognized in the golf industry, Summit Golf Brands products have found their way into the highest levels of corporate America.


DEAL STATS #
Overall 1 of 1
Sector (Apparel/Textiles) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (New York) 1 of 1
Country (United States) 1 of 1
Year (2005) 1 of 1

Seller(S) 2

SELLER

Florida Capital Partners

Tampa, Florida, United States

Category Private Equity Firm
Founded 1988
PE ASSETS 350M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Florida Capital Partners (FCP) is a private equity firm focused on acquisitions or recapitalizations of profitable private companies located in the continental US. FCP targets businesses with Enterprise value between $20 to $100 million with an EBITDA of $5 to $20 million. FCP prefers companies operating in traditional industries such as niche manufacturering, specialty services, and value-added distribution. FCP avoids investing in commodity products, start-ups, restaurants/hospitality, amusement parks, technology, biotech, retail, and real estate. FCP was formed in 1988 and is based in Tampa, Florida.


DEAL STATS #
Overall 10 of 21
Sector (Apparel/Textiles) 2 of 2
Type (Add-on Acquisition) 3 of 7
State (New York) 2 of 2
Country (United States) 10 of 21
Year (2005) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-02-01 Bock & Clark

Akron, Ohio, United States

Bock & Clark Corp. is a provider of commercial real estate due diligence services. With offices in Ohio, Pennsylvania, Florida, Oklahoma, California, Colorado, and Rhode Island, Bock & Clark serves clients in all 50 states and Canada in the following capacities: ALTA land and title surveys, boundary surveys, topographic surveys, aerial survey zoning reports and letters, and environmental services. Bock & Clark employs experienced professionals to research and prepares each of these products resulting in due diligence efficiency.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-03-09 Environmental Express

Charleston, South Carolina, United States

Environmental Express is a developer, manufacturer and distributor of environmental laboratory equipment and consumable supplies for commercial, governmental, industrial and academic laboratories worldwide. The company provides an entire range of laboratory products used in applications such as water/wastewater analysis, oil and grease analysis, metals analysis and hazardous waste analysis. We pride ourselves on providing innovative products, superior technical support, knowledgeable customer service and same day shipping.

Buy -
SELLER

KLH Capital

Tampa, Florida, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2005
PE ASSETS 700M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

KLH Capital is a private investment firm focused on smaller company investments in a variety of growing industry sectors. KLH helps provide management teams with capital to facilitate recapitalizations, management buy-outs/buy-ins, family successions, and other ownership transitions. KLH generally pursues companies with $4 to $20 million in pre-tax earnings and will consider opportunities across the US. KLH will not invest in start-ups, high technology, software, biotech, restaurants, retail, real estate development, oil and gas operations, or new construction businesses. KLH Capital is based in Tampa, Florida.


DEAL STATS #
Overall 11 of 30
Sector (Apparel/Textiles) 2 of 2
Type (Add-on Acquisition) 4 of 11
State (New York) 2 of 2
Country (United States) 11 of 30
Year (2005) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-11-01 Military Model Distributors

Carrollton, Texas, United States

Military Model Distributors is the largest supplier of specialty military models (airplanes, boats, tanks, armor, etc.) to the hobby industry, and publisher of related literature. Military Model Distributors is based in Carrollton, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-12-26 The Main Resource

Sarasota, Florida, United States

The Main Resource, Inc. specializes in the wholesale distribution of small, low cost, and hard to locate parts for the automobile aftermarket. The company maintains an inventory of 2,300 SKUs in a 13,000 SF warehouse in Sarasota, Florida.

Buy -