SnugZ USA, a portfolio company of Tower Arch Capital, has acquired Sweda Company LLC. Based on 2020 sales, this combination is poised to create one of the top-10 largest suppliers of promotional products.
SnugZ president and CEO Brandon Mackay said, “We believe this acquisition of Sweda will further strengthen our ability to innovate new products, expand into additional product segments, and most importantly, take advantage of the similarities between both companies to better serve our loyal customers.”
“I am thrilled about the combination of Sweda and SnugZ and know that our future, elevated together, is bright,” said Jim Hagan, CEO of Sweda. “The synergies between our two companies, from our core values to our differentiators, will only strengthen our position in the marketplace. It is the perfect fusion of culture and creativity.” Mackay and Hagan will stay on as CEO and president of Sweda, respectively.
Tower Arch was advised on the transaction by Gibson Dunn & Crutcher LLP and BDO LLP, with financing provided by Zions Bancorp. and East West Bank.