Succession Capital, the US acquisition arm of Toronto-based Lynx Equity, has acquired North American Shoe, a wholesale distributor of men’s, women’s and children’s footwear.
North American Shoe (NAS) distributes its products to shoe stores, catalogers, sporting goods stores, and Internet sites. The company is the sole distributor in the US for Foamtread slippers, Tundra boots, and Beeko children shoes. NAS was founded in 1918 and is headquartered in East Providence, RI (www.northamericanshoeco.com).
According to Succession Capital, NAS has a track record of financial stability with upwards-trending revenue and consistent margins. “With nearly 100 years in existence, this company has demonstrated its permanence in the marketplace. These results have been a product of strong fundamentals and the ability to be dynamic in an ever-changing industry,” said Lynx President Brad Nathan. “We are thrilled to have acquired our second company in the footwear space and look forward to capitalizing on synergies where they exist.” North American Shoe joins Lynx Equity’s portfolio of 42 companies including Toronto-based Baker Shoe Company, an importer and distributor of shoes and accessories (www.bakershoe.ca).
Lynx Equity acquires small to medium-sized businesses from owners looking to retire. The firm invests from $1.5 million to $8 million of equity in companies with revenue of $2 million to $25 million and EBITDA between $750,000 and $2.5 million. US-based acquisitions are made through Succession Capital which is based near San Diego in La Jolla, CA (www.succession-capital.com). Lynx Equity is headquartered in Toronto (www.lynxequity.com).
© 2016 Private Equity Professional • Private Equity’s Leading News Magazine • 6-3-16
