Industry

Industrial/Manufacturing

Company Type

Apparel/Manufacturing

Size

$4 Million

Investment Type

Equity

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CRANFORD GROUP HOLDINGS

Overview 

 

Cranford Group Holdings, LLC (Cranford) is seeking $4 million to acquire Pickett Hosiery Mills, Inc. and Huitt Mills, Inc. 


This business combination creates a vertically integrated, US based, hosiery company with pro-forma EBITDA in the first full year of $1.3 MM, expected to grow significantly.

CRANFORD GROUP HOLDINGS

Reasons To Invest

 

US market has high growth rate and size – 6% CAGR reaching $64 billion by 2025


Already serving high growth market segments with differentiated, high quality products


Further roll-up potential in a fragmented market of smaller current players


Synergies from turnaround and optimization by the team that led the 2019 Turnaround Management Association turnaround of the year


Made in the USA. Located in and tapping into the expertise of the US hosiery manufacturing epicenter – North Carolina

CRANFORD GROUP HOLDINGS

Opportunity

 

US market has high growth rate and size – 6% CAGR reaching $64 billion by 2025


Supplying highly differentiated, quality product to growing key market segments – athletic socks 7.5%, diabetic sock is 5.5%, and anti-microbial 5.8% CAGR


99% of the socks sold in the US are manufactured outside the US


Non-US supply chains are being disrupted adding cost and lead time to the market


Industry fragmentation lends itself to a roll up strategy, capturing the synergies from company combination, turnaround and optimization

CRANFORD GROUP HOLDINGS

Solution/Strategy

 

Overcome long lead times and rising prices by creating a vertically integrated company in the US


Located in and tapping into the expertise of the US hosiery manufacturing epicenter – North Carolina


Accelerate marketing efforts through online and direct sales to expand brand loyalty already demonstrated by military and first responders


Using a highly experienced rollup and turnaround team to capture operational efficiencies and synergies

CRANFORD GROUP HOLDINGS

 Management Team

Larry K. Small

CEO and Chief Marketing Officer

 

Prior to founding The Cranford Group:

Union Metal Industry Corporation – the Turnaround Management Association’s turnaround of the year in 2019


President and CEO of Acme-McCrary, a 100 year plus old legware manufacturing company


President Brown Wooten Mills


Board of Directors at Allamance Community College Foundation


Board of Directors and Chairman of The Hosiery Association

Rhonda Hollady 

COO

 

Prior to founding The Cranford Group:

Former Head of Human Resources for the turnaround at Union Metal Industry Corporation


Spent 30 years at Acme McCrary, starting as a machine operator, working her way through the ranks to become Wellness Director


Led Acme McCrary to NC DOL State awards in safety in just three years


Studied at NC State in the LEAN program, Duke University in the health and wellness studies, Randolph Technical and Randolph Community College

CRANFORD GROUP HOLDINGS

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Thanks, Ken

Ken Margolis | Managing Partner Castle Placement, LLC
1460 Broadway Street, Rte 400
New York, New York 10036
(212) 418-1188 | C: (516) 712-7784
kmargolis@castleplacement.com

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