U.K. private equity firm Hilco Capital has sold Tilley Endurables Inc, a Toronto-based hat and apparel designer and manufacturer, to Gibraltar & Co. No financial terms were disclosed.
Tilley, founded in 1980 by Canadian entrepreneur Alex Tilley, makes lightweight, hard-wearing clothing and accessories for adventurers and travellers. Its products, which include the iconic Tilley Hat, are sold in retail outlets worldwide.
Tilley was acquired in July 2015 by Re:Capital Canada, a Hilco investment platform.
Tilley President and CEO Andrew Prendergast, hired in 2015, said the company’s partnership with Hilco “strengthened its core business and positioned the brand for significant growth.”
Gibraltar & Co, a Canadian investment firm focused on consumer product companies, is led by Founder, CEO and Managing Partner Cam di Prata.
Hilco Capital completes sale of Tilley Endurables
Hilco Capital is pleased to confirm the sale of Tilley Endurables Inc., the iconic Canadian hat and travel apparel manufacturer, to Toronto-based investment firm, Gibraltar & Company.
Tilley was founded in 1980 and was acquired by Hilco Capital from its founder, Alex Tilley, on his retirement in 2015. Hilco has worked to restructure the business, augmenting the management team and expanding Tilley’s product offering. Tilley has significant distribution across Canada, the USA and UK, and is the go-to choice for discerning lovers of travel, adventure and the outdoors.
“Tilley’s collaboration with Hilco Capital has strengthened its core business and positioned the brand for significant growth under Gibraltar & Company ownership,” noted Andrew Prendergast, President and Chief Executive Officer at Tilley Endurables, Inc. “It’s an exciting time for Tilley associates around the world.”
Chris Emmott, investment director at Hilco Capital, commented: “Tilley is an iconic brand, which is much loved across the world. We are glad to be able to sell this great business to experienced new owners who are excellently placed to take Tilley on the next stage of its journey. We would like to thank everyone at Tilley for all the hard work and dedication they have shown to the business over the years.”
Cam di Prata, Founder, CEO and Managing Partner of Gibraltar & Company, commented: “We look forward to working with the team at Tilley, to build on its success and drive it forward to an exciting future.”