Guardian Capital Partners has acquired a controlling interest in McCubbin Hosiery. Guardian partnered with the executive management team of McCubbin on this transaction and the existing managers will continue operating the company.
McCubbin Hosiery is a children’s and women’s hosiery company that distributes branded and private label socks, tights, slippers, leg warmers and infant soft sole shoes. The company is the hosiery and slipper licensee for several American footwear brands including Stride Rite, Keds, Robeez, and Absorba. McCubbin sells through department stores, mass retailers, warehouse clubs, specialty stores and e-commerce channels. McCubbin Hosiery is led by Mark McCubbin, Chairman, and David McCubbin, President. The company was founded in 1952 and is headquartered in Oklahoma City, OK (www.mccubbin.com).
“Our partnership with Guardian was natural from the start. Our strategies and vision for growth are perfectly aligned and together we will leverage our experiences, skills and resources to push the company to even greater levels of innovation and expansion of the business,” said Mark McCubbin.
Guardian Capital Partners makes control investments in lower middle market private companies located primarily in the United States that have annual revenues between $20 million and $100 million and EBITDAs between $3 million and $9 million. Sectors of interest include consumer products, niche manufacturing and specialty business services. The firm is based in Wayne, PA, a suburb of Philadelphia (www.Guardiancp.com).
“McCubbin Hosiery has had solid historical growth because of its category leadership. With Guardian’s experience in the consumer products sector we are excited to further develop and support the company’s growth strategy,” said Scott Evans, Managing Partner of Guardian.
PNC Bank provided senior debt financing for the transaction and Patriot Capital Partners provided additional financing and minority equity. Stephens Inc. served as the exclusive financial advisor to McCubbin Hosiery.
© 2014 PEPD • Private Equity’s Leading News Magazine • 1-8-14
