TorQuest acquires craft yarn maker Spinrite from Sentinel
Canadian mid-market private equity firm TorQuest Partners has bought Spinrite LP, a Listowel, Ontario-based manufacturer and distributor of consumer craft yarn in North America. No financial terms were released. The seller in the deal was Sentinel Capital Partners, a U.S. private equity firm that acquired Spinrite in 2004 and re-acquired it in a take-private deal in 2007. Established in 1952, Spinrite markets about 4,000 stock keeping units across more than 100 product families and possesses a diversified craft yarn manufacturing operation. It is the fifth platform investment of TorQuest Partners Fund III, which raised $535 million in 2013. Last month, TorQuest agreed to sell specialty chemicals maker Pinova Holdings Inc to Symrise AG.
9 October 2015•3 mins read
