Partnering With A Market Leader
Augusta Sportswear Group (“ASG” or the “Company”) has become one of the leading providers of team uniforms, athletic apparel, outerwear, fanwear and school-inspired products in the United States. ASG sells through specialty distribution channels including team uniform suppliers, custom decorators and promotional products distributors. ASG has become the supplier of choice due to its comprehensive product selection at attractive price points, near flawless order execution and unmatched customer service and sales support. In the transaction, the Company founder and the entire senior management team remained significant owners alongside Quad-C.
Executing The Strategy
With the support of Quad-C, management executed on the value creation plan which included expanding its product offering through product line extensions and expansion into new sports, enhancing margins through improved sourcing, increased production at self-owned facilities and various cost savings initiatives and increasing share in its large and growing served market through its superior customer value proposition. Investing in E-commerce and business intelligence technologies to enhance customer relationships further differentiated the Company from the competition and drove additional sales potential.
Quad-C invested in ASG in January 2008 and ASG increased its EBITDA by approximately 50% during our ownership period despite the severe economic recession. One of the reasons Quad-C was attracted to ASG was our belief that ASG would be recession resistant based on its value-oriented pricing, diverse customer base, small average order size and market leadership position. This resilience proved to be the case and as a result of the value creation strategy noted above, ASG was able to drive double digit annual growth rates in profitability through the recession.
Given the strong organic growth, Quad-C sold the Company to a private equity group in April 2012.