sale to TorQuest Partners
Baird served as the exclusive financial advisor to Spinrite LP on this transaction.
AboutSpinrite LP (“Spinrite” or the “Company”), a portfolio company of Sentinel Capital Partners (“Sentinel”), was recently acquired by TorQuest Partners (“TorQuest”). The terms of the transaction were not disclosed.
Spinrite is the North American leader in the craft yarn industry producing yarn in all major categories including Baby, Classic, Cotton and Upscale. Spinrite markets its products under a number of well-known brand names including Bernat ®, Caron ®, Lily Sugar n’ Cream ®, Patons ®, Peaches & Creme ® and Phentex ® and sells primarily to mass merchants and specialty craft stores, in addition to independent, catalog and international channels. Spinrite was founded in 1952 and is headquartered in Listowel, Canada.
Sentinel is a private equity firm that specializes in buying and building middle-market companies in the United States and Canada in partnership with management. Sentinel primarily invests in industrial, consumer, food & restaurants, business services, distribution, franchising, healthcare and aerospace and defense businesses. Sentinel is based in New York, New York and has approximately $2.6 billion of capital under management.
TorQuest Partners is a private equity firm that specializes in middle-market investments in North America, with a focus on Canada. TorQuest’s investments primarily cover financial services, business services, chemicals, food, consumer products and niche manufacturing. TorQuest is based in Toronto, Canada and has approximately $1 billion in equity capital under management.
For additional information about this transaction, please contact:
- October 2015
- Spinrite LP
- Target Location
- North America
- Acquiror Location
- North America