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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
