Broder Bros., a portfolio company of Littlejohn & Co., has acquired Imprints Wholesale, a wholesale clothing distributor.
Imprints Wholesale is a wholesale clothing distributor serving the West Coast, Central and Midwest United States. The company distributes a portfolio of blank imprintable apparel and products, including T-shirts, fleece, sport shirts, golf shirts and related items. The company was founded in 1987 and operates five distribution centers with its headquarters in Denver (www.imprintswholesale.com).
Broder Bros. is a distributor of imprintable sportswear and accessories. With revenues of approximately $850 million the company sources undecorated T-shirts and imprintable sportswear and distributes them to apparel screen printers who decorate them for a wide variety of purposes. Broder Bros. operates eight distribution facilities and ten “express” facilities offering pickup services to customers. The company was founded in 1919 and is based in Trevose, PA (www.broderbros.com).
“This acquisition is important to us and we are committed to the expansion of Broder Bros. to serve our growing market. We are pleased to have Scott Lynes and his Imprints team join us at Broder,” said Norm Hullinger, CEO of Broder Bros. “They have built a well deserved reputation for strong customer service in the regions they serve and we plan to maintain the best of their business and integrate it across our national platform where appropriate.”
Littlejohn & Co. makes control and non-control investments in middle-market companies that are undergoing a fundamental change in capital structure, strategy, operations or growth. The firm is currently investing from Littlejohn Fund IV which has over $1.3 billion in capital commitments. Littlejohn & Co. is based in Greenwich, CT (www.littlejohnllc.com).
Investment bank Green Manning & Bunch (GMB) served as the exclusive financial advisor to Imprints Wholesale in the transaction, managing all aspects of the transaction process. “The GMB team did an outstanding job creating a competitive process,” said Scott Lynes, the founder of Imprints Wholesale. “They were instrumental in structuring, negotiating and closing the transaction. GMB provided the senior-level attention promised from the onset and helped guide me through what can be a challenging time in selling your business.”
Green Manning & Bunch specializes in mergers and acquisitions, private placements of equity and debt, and strategic financial advisory services for middle market companies and has closed transactions totaling more than $17 billion. The firm is based in Denver (www.gmbltd.com).
“Imprints Wholesale, founded and led by Scott Lynes, was one the largest wholesale clothing distributors in the country. The company’s marquis reputation and outstanding customer service made it an attractive acquisition candidate in a highly concentrated industry. We were pleased that we were able to assist Scott and his team achieve their objectives in this transaction,” said Warren Henson, senior managing director of GMB.
© 2013 PEPD • Private Equity’s Leading News Magazine • 2-14-13