M&A Deal Summary

Timberland Acquires SmartWool

On November 7, 2005, Timberland acquired apparel/textiles company SmartWool from Stripes and RAF Industries for 82M USD

Acquisition Highlights
  • This is Timberland’s 1st transaction in the Apparel/Textiles sector.
  • This is Timberland’s largest (disclosed) transaction.
  • This is Timberland’s 1st transaction in the United States.
  • This is Timberland’s 1st transaction in Colorado.

M&A Deal Summary
Date 2005-11-07
Target SmartWool
Sector Apparel/Textiles
Buyer(s) Timberland
Sellers(s) Stripes
RAF Industries
Deal Type Add-on Acquisition
Deal Value 82M USD

Target

SmartWool

Steamboat Springs, Colorado, United States
SmartWool Corp. is a designer, developer, marketer and distributor of premium performance socks, apparel and accessories for men, women and children.

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Buyer(S) 1

Buyer

Timberland

Stratham, New Hampshire, United States
Category Company
Founded 1952
Sector Apparel/Textiles
Employees5,600
DESCRIPTION

Timberland LLC provides design, engineering and marketing of premium-quality footwear, apparel and accessories for consumers who value the outdoors and their time in it. Timberland markets products under the Timberland(R), Timberland PRO(R), Mountain Athletics(R), SmartWool(R), Timberland Boot Company(R) and howies(R) brands, all of which offer quality workmanship and detailing and are built to withstand the elements of nature.

DEAL STATS #
Overall 1 of 2
Sector (Apparel/Textiles) 1 of 2
Type (Add-on Acquisition) 1 of 2
State (Colorado) 1 of 1
Country (United States) 1 of 2
Year (2005) 1 of 1
Size (of disclosed) 1 of 2
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-04-26 IPATH

Torrance, California, United States

IPATH designs develop, and market skateboarding-inspired casual footwear, apparel, and accessories. IPATH was founded in 1998 and is based in Torrance, California.

Buy $13M

Seller(S) 2

SELLER

Stripes

New York, New York, United States

Investor Investor Investor Investor Investor

Category Growth Capital Firm
Founded 2008
PE ASSETS 7.3B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Stripes is a private investment firm focused primarily on making minority investments in rapidly growing, private companies. Stripes look to commit $10 to $150 million of equity capital per transaction to support acquisitions, growth equity needs, and provide shareholder liquidity. Target companies generally have high margins and operate in large markets. Sectors of interest include branded consumer products, financial services, medical devices, and technology. Stripes is formed in 2008 and is based in New York City.

DEAL STATS #
Overall 1 of 19
Sector (Apparel/Textiles) 1 of 2
Type (Add-on Acquisition) 1 of 10
State (Colorado) 1 of 3
Country (United States) 1 of 19
Year (2005) 1 of 1
Size (of disclosed) 5 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-09-06 NetQuote

Denver, Colorado, United States

NetQuote, Inc. is a provider of consumers with a free, simple, and effective way to fulfill their insurance shopping needs. NetQuote works with hundreds of partner companies that provide insurance quotes based on information that you supply.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-01-01 Folica

Dayton, New Jersey, United States

Folica, Inc. is a premier destination for hair care and hair styling products online.

Buy -
SELLER

RAF Industries

Bala Cynwyd, Pennsylvania, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1979
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

RAF Industries is a private investment group focused on acquiring manufacturing and service-oriented companies that produce both industrial and consumer products in the US. The company has a preference for businesses with strong management wishing to partner with RAF post-acquisition. For platform acquisitions, RAF generally looks for businesses with at least $5 million in cash-flow. The Firm targets businesses valued from $15 to $150 million. RAF Industries is particularly interested in the areas of building and DIY products, products, and services geared towards enhancing the elderly population's lifestyle, as well as products or services provided to high-end consumers. RAF Industries was formed in 1979 and is based in Bala Cynwyd, Pennsylvania.

DEAL STATS #
Overall 4 of 15
Sector (Apparel/Textiles) 1 of 1
Type (Add-on Acquisition) 2 of 9
State (Colorado) 1 of 1
Country (United States) 4 of 15
Year (2005) 2 of 2
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-06-29 Big Sky Carvers

Leawood, Kansas, United States

Big Sky Carvers LLC is a designer and manufacturer of nature-themed gift items, including wood sculptures of ducks, fish and bears, and whimsical plush and resin gifts featuring wildlife creatures. Big Sky Carvers sells primarily to specialty gift retailers, tourist attractions, national park gift stores, mass merchants and outdoor equipment and apparel retailers and catalogues.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-04-01 O2Safe Solutions

Wallingford, Connecticut, United States

O2Safe Solutions provides a full range of respiratory solutions, primarily to sub-acute, rehabilitation, and convalescent facilities throughout the Midwestern and Northeastern United States. The company’s services include providing on-site respiratory therapists, pulmonary care, portable oxygen equipment, service, and preventive maintenance, clinical education, and the delivery of USP-grade liquid oxygen through our proprietary micro-bulk O2 Safe system. O2Safe Solutions was established in 1993 and is based in Wallingford, Connecticut.

Buy -
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