CenterGate Capital has acquired TSC Apparel, a distributor of imprintable apparel products and accessories.
TSC Apparel is a national business-to-business distributor of imprintable activewear and accessories. The company stocks thousands of styles of tees, fleeces, headwear, sport shirts, outerwear, and accessories and has six warehouses in the US in Denver, CO; Fullerton, CA; Cincinnati, OH; Perry, GA; Houston, TX; and Philadelphia, PA. The company also has three warehouses in China. TSC was founded in 2000 and is headquartered in Cincinnati (www.tscapparel.com).
TSC is led by its Chief Executive Officer Bob Winget who will continue to lead the company under CenterGate ownership and serve on TSC’s board of directors. “We are excited about our partnership with CenterGate and what it means for our customers and vendors,” said Mr. Winget. “CenterGate’s investment will provide the capital and strategic resources to continue to expand our products and market presence.”
“We are excited to partner with the entire TSC team,” said Tiffany Kosch, Managing Director at CenterGate. “As a market leader, TSC is well-positioned to continue providing its unique combination of service and scale. We believe our partnership will provide access to additional opportunities and enable TSC to successfully continue executing its growth strategy.”
CenterGate Capital invests in lower middle market companies that have from $20 million to $250 million of revenue and up to $20 million of EBITDA. Sectors of interest include business services, industrials, energy services, consumer, and healthcare. In December 2016, the firm held an above target and oversubscribed final closing of CenterGate Capital Partners I LP with $350 million of capital commitments. CenterGate is headquartered in Austin (www.centergatecapital.com).
© 2017 Private Equity Professional | October 12, 2017