M&A Deal Summary

Totes Isotoner Acquires Northern Cap & Glove Manufacturing

On February 28, 2008, Totes Isotoner acquired apparel/textiles company Northern Cap & Glove Manufacturing from Huron Capital

Acquisition Highlights
  • This is Totes Isotoner’s 1st transaction in the Apparel/Textiles sector.
  • This is Totes Isotoner’s 1st transaction in the United States.
  • This is Totes Isotoner’s 1st transaction in Minnesota.

M&A Deal Summary

Date 2008-02-28
Target Northern Cap & Glove Manufacturing
Sector Apparel/Textiles
Buyer(s) Totes Isotoner
Sellers(s) Huron Capital
Deal Type Add-on Acquisition

Target

Northern Cap & Glove Manufacturing

Minneapolis, Minnesota, United States
Northern Cap & Glove designs, produces and markets an extensive line of branded and private label headwear, gloves and scarves for men, women and youth in all levels of retail trade. The Company has licenses to market headwear, gloves and scarves under the Dockers®, GoreTex® and U.S. Ski Team® brand names in addition to its branded private label programs.

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Buyer(S) 1

Buyer

Totes Isotoner

Cincinnati, Ohio, United States

Category Company
Founded 1923
Sector Apparel/Textiles
DESCRIPTION

Totes Isotoner Corp. is a designer, wholesaler, distributor and retailer of branded accessories for the cold and wet weather markets. Product lines include umbrellas, accessories, gloves, slippers, and sunglasses under a number of brands such as totes, Isotoner, and Aris.


DEAL STATS #
Overall 1 of 5
Sector (Apparel/Textiles) 1 of 4
Type (Add-on Acquisition) 1 of 5
State (Minnesota) 1 of 1
Country (United States) 1 of 4
Year (2008) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-12-30 Acorn Products

Lewiston, Maine, United States

Acorn Products Co., Ltd. manufactures indoor and outdoor footwear and accessories for men, women, and kids.

Buy -

Seller(S) 1

SELLER

Huron Capital

Detroit, Michigan, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1999
PE ASSETS 1.8B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Huron Capital Partners is a private equity firm that seeks to acquire or recapitalize niche manufacturers, value-added distributors and specialty service companies. Prospective transaction situations include management buyouts, corporate spin-offs, recapitalizations, family successions and consolidations. Huron prefers opportunities located in the US and Canada. Target companies typically have revenues between $20 and $200 million and EBITDA of at least $5 million. Huron can commit up to $10 million and $50 million of equity capital per transaction. Huron Capital Partners was formed in 1999 and has offices in Detroit, Michigan and Ontario, Canada.


DEAL STATS #
Overall 7 of 35
Sector (Apparel/Textiles) 1 of 1
Type (Add-on Acquisition) 3 of 13
State (Minnesota) 1 of 1
Country (United States) 7 of 32
Year (2008) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-12-01 Michigan Orthopedic Services

Livonia, Michigan, United States

Headquartered in Livonia, MI, Michigan Orthopedic Services operates a network of patient care centers that design, fit and fabricate custom orthotic and prosthetic ('O&P') devices for patients requiring artificial limbs as a result of amputation or a congenital birth defect (prosthetics) or external support as a result of musculoskeletal disorders or injury (orthotics).

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-08-26 Response Mail Express

Tampa, Florida, United States

Response Mail Express ("RME") provides direct marketing services for customers in the financial services, insurance, mortgage and many other sectors. In addition to traditional direct mail and innovative web-based lead generation solutions, RME offers Seminar Success®, a turnkey seminar-based lead generation program that repeatedly yields lower lead costs and higher ROIs than most other marketing methods. Response Mail Express was founded in 1995 and is based in Tampa, Florida.

Buy -