CPE Media News – pcJournal (7/30/2018) – Hilco Capital has closed the sale of Tilley Endurables Inc. to Gibraltar & Company. Financial terms were not disclosed.
Founded in 1980, Tilley is widely regarded as the premium hat brand of choice for lovers of travel, adventure and the outdoors, the world over.
Hilco acquired Tilley from founder Alex Tilley in July 2015.
Hilco Capital is a financial investor and adviser, working across a broad range of sectors. It specializes in dealing with businesses which are underperforming, non-core subsidiaries, retirement sales or which are distressed.
photo credit: Hilco Capital
News Release
Hilco capital completes sale of tilley endurables
Hilco Capital is pleased to confirm the sale of Tilley Endurables Inc., the iconic Canadian hat and travel apparel manufacturer, to Toronto-based investment firm, Gibraltar & Company.
Tilley was founded in 1980 and was acquired by Hilco Capital from its founder, Alex Tilley, on his retirement in 2015. Hilco has worked to restructure the business, augmenting the management team and expanding Tilley’s product offering. Tilley has significant distribution across Canada, the USA and UK, and is the go-to choice for discerning lovers of travel, adventure and the outdoors.
“Tilley’s collaboration with Hilco Capital has strengthened its core business and positioned the brand for significant growth under Gibraltar & Company ownership,” noted Andrew Prendergast, President and Chief Executive Officer at Tilley Endurables, Inc. “It’s an exciting time for Tilley associates around the world.”
Chris Emmott, investment director at Hilco Capital, commented: “Tilley is an iconic brand, which is much loved across the world. We are glad to be able to sell this great business to experienced new owners who are excellently placed to take Tilley on the next stage of its journey. We would like to thank everyone at Tilley for all the hard work and dedication they have shown to the business over the years.”
Cam di Prata, Founder, CEO and Managing Partner of Gibraltar & Company, commented: “We look forward to working with the team at Tilley, to build on its success and drive it forward to an exciting future.”