WILsquare Capital Acquires Tek Brands For eCommerce Business Growth
WILsquare Capital, a private equity firm, announced the acquisition of TekBrands, LLC (“TekBrands”), a designer and eCommerce-based marketer. Steve Nabity, who co-founded the company with his wife Lynette in 1990, said: “I am thrilled to see WILsquare as the new partner for TekBrands. WILsquare immediately recognised and values what the leadership team has built and […]
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WILsquare Capital, a private equity firm, announced the acquisition of TekBrands, LLC (“TekBrands”), a designer and eCommerce-based marketer.
Steve Nabity, who co-founded the company with his wife Lynette in 1990, said: “I am thrilled to see WILsquare as the new partner for TekBrands. WILsquare immediately recognised and values what the leadership team has built and shows a clear commitment to continued growth. I’m excited for the future of the organisation.” Following the transaction, Steve Nabity will continue to serve on the company’s board.
“The leadership team and I are pleased to partner with WILsquare,” said Mary Kay O’Connor-Wente, CEO of TekBrands. “The culture and values of WILsquare fit perfectly with TekBrands, and we are excited about their commitment to support the future growth of the business.”
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“We are delighted to be a part of the TekBrands story and to have the opportunity to invest behind this talented management team,” said Drew Caylor, Managing Director at WILsquare Capital. “The company has succeeded, not only in engineering great products, but also in creating a multi-channel platform and digital ecosystem that engages and inspires the creativity of quilters and crafters.”
“The Midwestern values and distinct culture of continuous improvement at TekBrands resonate strongly with us,” said Andrew Scharf, Director at WILsquare Capital. “We look forward to preserving and expanding upon the legacy that Steve and the management team have built over more than three decades.”
The acquisition of TekBrands marks the third investment for WILsquare this year, following the acquisitions of Tri-State Wholesale Flooring, LLC in April and Rock Energy Systems, LLC in September. TekBrands is the third platform investment in WILsquare Capital Partners Fund II.
