Arlington Capital Partners has sold the tennis division of Tex Tech Industries to Strait Lane Capital Partners
Headquartered in Portland, Maine, with manufacturing facilities in Thailand, TTI is the global market leader in premium tennis ball felt engineering and manufacturing. TTI felt works in concert with its clients’ internal cores for every type of tennis surface and includes woven, needled and acrylic tennis felt products.
Ciaran Lynch, Chief Executive Officer of TTI, commented, “We are thrilled to partner with Strait Lane as we move forward as a newly independent company. We look forward to continuing to serve the global tennis ball market, which has seen tremendous growth over the past year.”
Lincoln acted as the exclusive financial advisor for TTI and its private equity investor, Arlington Capital Partners, in the divestiture of TTI’s tennis division. Lincoln worked closely with the shareholders and management throughout the sale process to navigate the complexities of a divestiture transaction and to find the right partner for the business. This included providing advisory expertise and managing the preparatory, marketing, negotiation and due diligence phases of the transaction. Terms of the transaction were not disclosed.
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