Huron Capital Partners has recapitalized Sock & Accessory Brands Global, committing $40 million to the company through its The Huron Fund III. Senior debt financing for the deal was provided by Fifth Third Bank. SABG designs and markets casual and athletic socks, which are sold under company-owned, licensed and retail store brands. Huron operating partner Jim Clegg will serve as the company's executive chairman and president.
Since the beginning of 2008, PE firms have invested in 93 companies primarily involved in the Apparel & Accessories industry, according to the PitchBook Platform. 2011 has seen 24 deals completed so far, creeping past 2010's final deal tally of 23. Although the Clothing sector continues to dominate the industry's activity, the Footwear sector has seen a boost in popularity this year and accounted for 21% of 2011's completed Apparel & Accessories deals to date.