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SABG Acquires Twin City Knitting
Detroit, MI – November 7, 2016 – Huron Capital Partners LLC (“Huron Capital”) today announced its portfolio company, Sock & Accessory Brands Global (“SABG”), has acquired Conover, North Carolina-based Twin City Knitting Company (“TCK”).
Founded in 1961, TCK is a designer, manufacturer and wholesaler of performance athletic socks, predominantly serving the team sports market with products such as customized team socks. The majority of the company’s products are manufactured in the United States. TCK will continue to operate out of its existing facilities in North Carolina, and the prior owners, Joseph Lamb and Fran Davis, will retain their roles with the business. In addition, Fran Davis will join the Board of Directors SABG.
“TCK is a well-recognized name in the American team sports apparel market,” said Tom O’Riordan, CEO of SABG. “The acquisition of TCK is expected to provide SABG with access to a variety of new buying organizations and distribution channels. It will also add domestic manufacturing capabilities to SABG’s current operations, which we expect will allow for faster turnaround times to meet customer needs.”
“We are thrilled to be partnering with SABG and Huron Capital,” said Fran Davis, co-owner of TCK. “TCK brings an established brand in the team sports market to SABG, and we are excited to begin working together to build on each company’s respective strengths. I look forward to joining the Board of SABG and continuing to ensure we remain the leader in the team sports sock market.”
Nick Barker, Partner at Huron Capital, added, “We like the team sports market, and believe it’s relatively stable from a fashion trend standpoint. We look forward to working with the SABG team to integrate these two businesses, and continue to seek additional acquisition opportunities for SABG.”
Certain information herein may contain forward-looking statements which are provided to assist the reader in understanding the beliefs and opinions with respect to future opportunities as perceived by Huron Capital and others quoted herein. These statements are not guarantees of future performance and undue reliance should not be placed on them. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause actual performance in future periods to differ materially from any projections or results expressed or implied by such forward-looking statements. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The issuer of these statements undertakes no obligation to update forward-looking statements if circumstances or estimates or opinions should change except as may be required by applicable securities laws.
