"The partnership with CenterGate was instrumental to our success, providing the necessary support and resources. I’m excited about this next chapter for the company as part of the S&S Activewear platform,” stated Dave Klotter, TSC CEO.
AUSTIN, Texas (PRWEB) November 23, 2021
CenterGate Capital (“CenterGate”), an Austin-based private equity investment firm, is pleased to announce the sale of one of its portfolio companies, TSC Apparel (“TSC”), to S&S Activewear (“S&S”).
Originally founded in 1976 and headquartered in Cincinnati, OH, TSC is a national B2B distributor of imprintable apparel products and accessories. TSC provides thousands of SKUs of casual shirts, fleeces, sports shirts, outerwear, and accessories. Since partnering with CenterGate in 2017, the Company has grown its proprietary Tultex brand, added and expanded locations, brought on new mill partners, and added other value-added services.
“The collective efforts of the TSC management team, our strategic partners, and CenterGate have resulted in a differentiated platform well positioned to continue to deliver greater value to its customers,” stated Tiffany Kosch, Co-Founder and Managing Partner of CenterGate. “CenterGate has greatly appreciated its partnership with management and is excited to see the continued growth of the business under S&S’s stewardship.”
Managing Director Tim Liu added, “We are proud to have partnered with TSC management and congratulate them on their achievements. We want to thank them for their hard work and look forward to tracking their future success.”
TSC CEO Dave Klotter commented, “I’m tremendously proud of everything the TSC team has accomplished over the past few years. We’ve dramatically grown revenue and profitability, added new capabilities, and significantly expanded our proprietary Tultex-branded offering, while continuing to provide industry-leading service and value to our customers. The partnership with CenterGate was instrumental to our success, providing the necessary support and resources. I’m excited about this next chapter for the company as part of the S&S Activewear platform and believe the combined business is well positioned for continued success.”
McDermott, Will & Emery LLP served as legal counsel to TSC.
About TSC Apparel
TSC Apparel is an industry-leading national B2B distributor of imprintable apparel products and accessories. Headquartered in Cincinnati, Ohio, TSC stocks and sources thousands of styles of casual shirts, fleeces, sport shirts, outerwear, and accessories from seven warehouses nationwide. TSC serves as a value-added partner in the decorated apparel supply chain, sourcing apparel from high-quality brands for use in screen print and embroidery and provides custom design solutions for its clients. For more information, please visit http://www.tscapparel.com.
About CenterGate Capital
CenterGate Capital is an Austin, Texas based private equity firm focused on partnering with lower middle market companies with the potential to achieve transformational growth through operational and strategic development. CenterGate brings a balance of financial and operational experience and strategic insight to assist management in driving long-term sustainable growth. For more information, please visit http://www.centergatecapital.com.