 |
|
     
|
Eureka Growth Capital’s Active Brands International Acquires Marc Wear
Philadelphia, PA,
July 10, 2007 -
Eureka Growth Capital (“Eureka”) today announced the acquisition of Marc Wear by its affiliate Active Brands International (“Active Brands”). Marc Wear designs, manufactures, and markets casual women’s sportswear sold primarily under the trademarked name of Hot Cotton by Marc Ware (“Hot Cotton”). Marc Wear is the largest garment-dyed manufacturer of product sold to better department stores in the United States. Hot Cotton’s department store distribution includes Macy’s, Nordstrom, Gottschalks, Dillard’s, Marshall Field’s, Belk and Lord & Taylor.
Eureka formed Active Brands in partnership with industry veterans Nicholas DeMarco and Paul Palmeri in February 2006 to facilitate the platform acquisition of Martin Stuart, Ltd. “This is a tremendous step towards achieving our strategic goal of becoming a key player in the women’s active sportswear market,” said Paul Palmeri, CEO of Active Brands. “We look forward to working with Marc Ware, Teresa Pineda-DeRogatis and the talented design and sales staffs at Marc Wear to grow what is already a very successful brand in one of our primary product categories.”
“The addition of Hot Cotton to our portfolio of brands significantly broadens Active Brands’ channels of distribution, product categories offered and departments served, enabling Active Brands to bring even more value to our retail partners and their customers,” said Chris Hanssens, Managing Partner of Eureka Growth Capital. “Active Brands’ sourcing and distribution expertise, evidenced by its best in class vendor ranking for delivery and service, combined with Hot Cotton’s styled but comfortable designs, will allow Hot Cotton to own an increasing share of its extremely loyal customers’ dollars,” added Chris Miller, Vice President of Eureka Growth Capital and Director of Active Brands.
MCG Capital Corporation (Nasdaq: MCGC) of Arlington, Virginia provided the senior and subordinated debt and an equity co-investment to facilitate the acquisition.
About Eureka Growth Capital
Eureka Growth Capital is a private equity firm providing capital and trusted counsel in partnership with proven managers to drive the growth of promising companies into outstanding enterprises. Eureka is committed to supporting exceptional management teams of businesses with $10 million to $75 million in revenue. Eureka leads buyouts that bring significant ownership to the managers driving the success of the business as well as minority recapitalizations with flexible investment structures designed to uniquely meet the needs of the company, its management team and other shareholders. More information about Eureka Growth Capital can be found at www.eurekagrowth.com.
|
|
3420 BELL ATLANTIC TOWER, 1717 ARCH STREET,
PHILADELPHIA, PA 19103
PHONE (267) 238-4200 FAX (267) 238-4201
WWW.EUREKAGROWTH.COM
|
|
|
|