Guardian Capital Partners has acquired a controlling interest in children’s and women’s hosiery platform McCubbin Hosiery, partnering with the executive management team of McCubbin on the deal. The existing managers will continue operating the company. PNC Bank provided senior debt financing and Patriot Capital Partners provided additional financing and minority equity.
Guardian Capital Partners (“Guardian”) announced that it has acquired a controlling interest in McCubbin Hosiery LLC (the “Company” or “McCubbin”) on December 24, 2013. Guardian partnered with the executive management team of McCubbin on this transaction and the existing managers will continue operating the Company going forward.
Headquartered in Oklahoma City, McCubbin Hosiery LLC (www.mccubbin.com) is a leading children’s and women’s hosiery platform with extensive distribution of branded and private label socks, tights, slippers, leg warmers and infant soft sole shoes. McCubbin offers a portfolio of hosiery for footwear brands, complemented by sales of its own label and private label product. The Company’s portfolio of licenses is exclusively focused on international brands including Stride Rite®, Keds® and Robeez®. McCubbin sells through department stores, mass retailers, warehouse clubs, specialty stores and e-commerce channels.
David McCubbin, President of McCubbin Hosiery said, “With over 60 years of history, the Company is synonymous with quality, service and innovation. Our partnership with Guardian Capital Partners is an exciting milestone for the Company.” Mark McCubbin, Chairman of McCubbin Hosiery added, “Our partnership with Guardian was natural from the start. Our strategies and vision for growth are perfectly aligned and together we will leverage our experiences, skills and resources to push the Company to even greater levels of innovation and expansion of the business.”
Scott Evans, Managing Partner of Guardian stated, “McCubbin Hosiery has had solid historical growth because of its category leadership. With Guardian’s experience in the consumer products sector we are excited to further develop and support the Company’s growth strategy.” Peter Haabestad, Managing Partner at Guardian, also noted, “David and Mark have established a high performing team of executives and managers. We look forward to working with the entire McCubbin management team to build upon the Company’s strong legacy of success.”
Stephens Inc. served as exclusive financial advisor to McCubbin Hosiery. The law firm Duane Morris LLP advised Guardian. PNC Bank provided senior debt financing for the transaction and Patriot Capital Partners provided additional financing and minority equity.
For more information about the transaction, contact Scott Evans or Peter Haabestad at Guardian Capital Partners.
About Guardian Capital Partners (www.Guardiancp.com)
Guardian Capital Partners is a private equity firm based in suburban Philadelphia that makes control investments in lower middle market consumer products, niche manufacturing and specialty service companies. Guardian partners with management teams to provide equity capital to lead leveraged buyouts, recapitalizations and divestitures of family-owned businesses and non-core divisions of larger corporations. The private equity experience and complementary skill sets of the Guardian team provide a unique combination of operating and finance capabilities resulting in certainty of execution and meaningful long-term value creation for its portfolio companies.