TekBrands, through its subsidiary AccuQuilt, has acquired the brand, product line and other assets of June Tailor, a designer and seller of quilting, sewing and crafting products. WILsquare acquired TekBrands in December 2021.
TekBrands is a designer and e-commerce-based marketer of a range of branded products sold and used by quilting and crafting enthusiasts and retailers. The company’s products include electric and manual fabric cutters, cutting dies, quilting patterns, cutting mats, sewing supplies, storage trays and cabinets.
June Tailor’s products include cutting and measuring tools, quilting templates, iron-on transfer sheets, and other accessories that are used by crafting, quilting, and sewing enthusiasts. The business was founded by June Kroenke in 1961 and is based near Milwaukee in Richfield, Wisconsin.
“I am delighted about the opportunity to grow June Tailor as part of the AccuQuilt family,” said Renee Thomas Jacobs, CEO of TekBrands. “June Tailor’s brand and products are a natural fit with AccuQuilt. We look forward to inspiring our customers with many new and innovative solutions as a result of this combination.”
TekBrand’s current company-owned brand names include AccuQuilt, AccuCut, Custom Shape Pros, and MemoryStitch.
Omaha, Nebraska-headquartered TekBrands was founded in 1990 by the husband and wife team of Steve and Lynette Nabity.
“We are pleased to add June Tailor to the TekBrands platform of brands,” said Andrew Scharf, a director at WILsquare. “This acquisition enhances TekBrands’ ability to connect with its target audience across multiple channels and furthers its mission to elevate customers’ quilting and crafting experience.”
WILsquare invests in businesses that are based in the Midwest and South that have EBITDA of $3 million to $10 million. Sectors of interest include business services, technology infrastructure and services, value-added distribution, niche manufacturing, and internet and catalog-based enterprises.
In July 2019, after a quick three months of fundraising, WILsquare held a final and above target closing of WILsquare Capital Partners Fund II LP with total capital commitments of $190 million.
© 2023 Private Equity Professional | August 17, 2023
