Lincoln Partners Represents Harbour Group in the Sale of Tube-Tex Global Group to Hammond, Kennedy, Whitney & Company, Inc.
St. Louis, MO - Harbour Group has completed the sale of Tube-Tex Global Group (Tube-Tex) to Hammond, Kennedy, Whitney & Company, Inc. (HKW). The terms of this transaction were not disclosed.
Tube-Tex is the world's technological leader in the design, manufacture, sale and service of finishing machinery for the growing knit and woven segments of the global textile industry. The Company's premium, high quality equipment both improves efficiency of textile manufacturing and enhances fabric quality. Tube-Tex's products include compactors, dryers, padding machines and bleach machines sold under the market leading Tube-Tex, Marshall & Williams, Ashby, RFG and Jemco brand names. With nearly 1,000 active systems in use in over 65 countries, Tube-Tex has the world's largest installed base of textile finishing equipment. Major integrated textile manufacturers and other leading apparel companies that demand Tube-Tex's technically superior products include well-recognized market leaders such as Fruit of the Loom, Russell, Sara Lee, Nike, Champion, Polo Ralph Lauren, Jockey, Reebok and Land's End, among others.
Bill Milligan, Tube-Tex's CEO commented: "Management and HKW share the same vision for Tube-Tex's continued growth and technology expansion on a global basis."
About Harbour Group
Based in St. Louis, Missouri, Harbour Group is a privately owned operating company with a demonstrated record of success in acquiring and developing market leading companies for long term investment. Since its founding in 1976, the Harbour Group family of companies has grown in sales and profitability at more than 25% compounded annually in industries with growth rates of less than 5%. Harbour Group has completed 137 acquisitions in 28 industries.
HKW is a private capital firm focused on sponsoring management buy-outs of privately owned businesses, subsidiaries and divisions of corporations and public companies with revenues between $20 million and $100 million. HKW concentrates its investment efforts on manufacturing companies with low risk of technological obsolescence that are leaders in their niche markets.
Lincoln Partners acted as the exclusive representative of Tube-Tex, assisting in the negotiations and acting as financial advisor in connection with the transaction.