Marigny Investments has acquired Victory Supply, a distributor of inmate clothing and other detention supplies.
Victory Supply’s products include clothing, undergarments, linens, footwear, gloves, personal care items, mattresses, bedding, furniture and uniforms. The company also provides a range of services including screen printing, embroidery and kitting.
Victory Supply was founded in 2012 by the husband and wife team of Kathy and Evan Trommer, who will maintain a minority investment in the company in partnership with Marigny. Victory Supply is headquartered 60 miles southwest of Nashville in Mount Pleasant, Tennessee.
“We have been looking for the right group of partners to help grow Victory. We feel we have accomplished this mission,” said Mr. Trommer. “We are very excited to be partnering with Marigny, leveraging each other strengths and moving Victory up and forward.”
Denver-headquartered Marigny Investments makes control investments in companies that have from $1 million to $4 million of EBITDA and are active in the B2B services and light manufacturing sectors.
“I am excited to partner with the Trommers and continue to grow Victory Supply together,” said Josh Sartisky, a partner and founder of Marigny. “The Victory team has done an extraordinary job of servicing a fragmented customer base by prioritizing their needs. We look forward to continuing to scale the business while maintaining the culture that has made them so successful.”
Greyrock Capital Group provided subordinated debt and made an equity co-investment to back the buy of Victory Supply, and Kansas City-headquartered UMB Bank (United Missouri Bancshares) provided senior debt financing.
The Lennox Group was the financial advisor to Victory Supply on this transaction.
© 2022 Private Equity Professional | June 3, 2022
