WILsquare Capital, a St. Louis-based private equity firm, announced today it has completed the acquisition of TekBrands, LLC (“TekBrands”), a leading designer and eCommerce-based marketer of branded products to quilting and crafting enthusiasts and retailers. The company is headquartered in Omaha, Nebraska. Terms of the transaction were not disclosed.
"I am thrilled to see WILsquare as the new partner for TekBrands,” said Steve Nabity, who co-founded the company with his wife Lynette in 1990. “WILsquare immediately recognized and values what the leadership team has built and shows a clear commitment to continued growth. I'm excited for the future of the organization and know I have found the right partner for the business going forward." Following the transaction, Steve Nabity will continue to serve on the company’s board.
"The leadership team and I are pleased to partner with WILsquare,” said Mary Kay O’Connor-Wente, CEO of TekBrands. “We immediately knew they were the best partner to take us into the next level of growth. The culture and values of WILsquare fit perfectly with TekBrands, and we are excited about their commitment to support the future growth of the business."
The company’s AccuQuilt and AccuCut brands offer quilting and crafting enthusiasts faster, safer and more accurate solutions for cutting fabric and paper materials used in a wide range of creative projects. The company’s MemoryStitch brand offers quilting services that convert customer-provided tee-shirts and fabrics into custom finished quilts.
“We are delighted to be a part of the TekBrands story and to have the opportunity to invest behind this talented management team,” said Drew Caylor, Managing Director at WILsquare Capital. “The company has succeeded, not only in engineering great products, but also in creating a multi-channel platform and digital ecosystem that engages and inspires the creativity of quilters and crafters.”
“The Midwestern values and distinct culture of continuous improvement at TekBrands resonate strongly with us,” said Andrew Scharf, Director at WILsquare Capital. “We look forward to preserving and expanding upon the legacy that Steve and the management team have built over more than three decades.”
The acquisition of TekBrands marks the third investment for WILsquare this year, following the acquisitions of Tri-State Wholesale Flooring, LLC in April and Rock Energy Systems, LLC in September. TekBrands is the third platform investment in WILsquare Capital Partners Fund II.
About WILsquare Capital
WILsquare Capital is a St. Louis-based private equity firm focused on acquiring and growing lower-middle market businesses in the Midwest and Southern United States, with an emphasis on business services, niche manufacturing, distribution and technology companies. The firm is currently investing out of WILsquare Capital Partners Fund II, L.P.