Today's Transactions:
Prospect Brands Buys Heated Sportswear Retailer Gerbing’s
The retail rector gets busier with this PE-backed purchase
Prospect Brands LLC has acquired Gerbing’s Heated Clothing Inc., a company that manufactures heated clothing and accessories for an undisclosed amount.
Stoneville, N.C.-based Gerbing’s clothing is heated with rechargeable batteries. The clothing is meant for golfing, fishing, snow sports and hunting.
Prospect Brands is a partnership between McCarthy Capital Fund V and Tom Nolan. McCarthy Capital is managed by Omaha-based private equity firm McCarthy Partners Management LLC.
The deal is one of several retail deals in the past week. On Dec. 6, Leonard Green & Partners LP purchased a 25 percent stake in retail chain Topshop from British billionaire Philip Green for $805 million. Also on Dec. 6, private equity firms Charlesbank Capital Partners and Webster Capital bought OneStopPlus Group, a plus-size retail chain owner, for $525 million. On Dec. 5, private equity firm Bertram Capital invested in skin care and cosmetics company Paula’s Choice.
To read more about what brands will sell in 2013, see “Retail M&A: Time-Tested Brands Sell.”
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