S&S Activewear (S&S), Bolingbrook, Ill., and Clayton, Dubilier & Rice (CD&R), New York, announced a new partnership in which CD&R-managed funds will invest alongside current owners and management to acquire S&S.
S&S emphasizes speed and quality of service, having made significant investments in national distribution capacity and technology and established the largest one and two-day distribution footprint in the industry, according to the company. The company has also expanded geographically with three acquisitions since 2010, including the acquisition of the largest wholesale apparel distributor in Canada, Technosport, in 2020.
The transaction is expected to close in the first quarter of 2021, at which point S&S President Jim Shannon will assume the role of chief executive officer and CD&R Operating Partner John Compton, former president of Pepsico, will become chairman of the board.
“This transaction is an important milestone for S&S and a validation of our continued success; as successful as we have been over the last two decades, we believe our growth story is just beginning,” says Shannon. “CD&R has a deep understanding of our business, from sourcing, freight, and distribution center scaling to technology and sales & marketing.”
“We are delighted to partner with a talented, entrepreneurial S&S team that shares our core values in a business we know and understand,” says Ken Giuriceo, CD&R partner. “We look forward to working together to achieve our vision for continued strong growth that creates exciting opportunities for employees, vendors and customers, as well as the local communities where they operate.” — D.S.
