Our Experience


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Situation:

Founded in 1994 and headquartered in Laguna Hills, CA, Innovative offers an enterprise resource planning (“ERP”) software product suite that is purpose-built for the apparel, footwear, and accessories industries.  Innovative’s Full Circle Apparel Software® is the trusted ERP solution for many of the most iconic brands in fashion and action sports.

Aptean is a leading global provider of mission-critical, industry-specific enterprise solutions that offers purpose-built enterprise ERP and supply chain management software to help address the unique challenges facing organizations across a wide range of verticals and end markets. Over 5,000 organizations in more than 20 industries across 54 countries trust Aptean’s solutions to help run their operations.

This acquisition extends Aptean’s industry-focused ERP capabilities to include the apparel, footwear, and accessories verticals, adds strategic technologies, and diversifies its customer base.

Solution:

We were engaged to help evaluate transition alternatives for the Company.  After preparing Innovative for a transaction process, we also took the Company to market and assisted with successfully negotiating and closing a transaction that addressed the objectives of ownership.

Situation:

Founded in 1994 and headquartered in Laguna Hills, CA, Innovative offers an enterprise resource planning (“ERP”) software product suite that is purpose-built for the apparel, footwear, and accessories industries.  Innovative’s Full Circle Apparel Software® is the trusted ERP solution for many of the most iconic brands in fashion and action sports.

Aptean is a leading global provider of mission-critical, industry-specific enterprise solutions that offers purpose-built enterprise ERP and supply chain management software to help address the unique challenges facing organizations across a wide range of verticals and end markets. Over 5,000 organizations in more than 20 industries across 54 countries trust Aptean’s solutions to help run their operations.

This acquisition extends Aptean’s industry-focused ERP capabilities to include the apparel, footwear, and accessories verticals, adds strategic technologies, and diversifies its customer base.

Solution:

We were engaged to help evaluate transition alternatives for the Company.  After preparing Innovative for a transaction process, we also took the Company to market and assisted with successfully negotiating and closing a transaction that addressed the objectives of ownership.

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Situation:

Annex Products Pty Ltd (Annex) was founded in Melbourne in 2011, by Rob Ward and Chris Peters. Doing business as Quad Lock, the Company offers an innovative, case-based, mobile device mounting ecosystem that caters to outdoor enthusiasts. Through leveraging its robust Ecommerce platform, the brand has grown to be a global leader in smartphone mounting solutions, with millions of Quad Lock products shipped to more than 100 countries since its founding.

Rob Ward and Chris Peters sought to evaluate various strategic alternatives to accelerate the Company through the next phase of growth while simultaneously realizing a partial liquidity event at maximum market value.

Solution:

We acted as financial advisor to Annex to identify a partner that recognized Annex’s value and potential to accelerate global sales. We negotiated with multiple international parties to find the best partner for the Company while addressing the objectives of the shareholders.

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Situation:

Founded in 1965, Falmat is an industry leader in the engineering and manufacturing of high-performance, mission-critical, custom cable solutions.

For over half a century as a family-owned and operated business, Falmat has designed high-performance cables to overcome the toughest challenges in the most severe environments utilizing innovative materials in its custom state-of-the-art manufacturing facilities.

Customers in industries such as Defense, Aerospace, Marine/Subsea, Offshore Oil and Oil Exploration, Industrial Controls, Medical, Transportation, Entertainment, and Robotics.

The family members/shareholders were evaluating various strategic alternatives to take the company through its next phase of growth and strongly believed a strategic partner with deep distribution channels globally would be in the best position to capitalize on the company’s various growth opportunities and preserve the family legacy.

Solution:

We were engaged to identify a partner that recognized Falmat’s value proposition and global potential.  Falmat ultimately entered exclusive negotiations with Winchester Interconnect (Aptiv), a multi-billion-dollar European conglomerate.  Aptiv saw in Falmat a premier brand with strong presence in specific US sectors and tremendous potential to leverage Aptiv’s global platform.

We negotiated an extraordinary valuation, providing a full liquidity event for all shareholders.

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Situation:

Hoskin & Muir (d.b.a. HMI Cardinal) was founded in 1948 and began as a decorative aluminum trim wholesaler.  In the 1980s, under the leadership of Don Cameron Ross, the Company began its specialization in shower door trim and ultimately transitioned into the shower door manufacturing business.  HMI Cardinal maintained momentum through the recession and became one of the nation’s largest custom shower enclosure manufacturers while also rapidly growing its commercial storefront operation.  The Company now has over 580 employees, operating from seven distribution centers, and nine delivery warehouses that service over 5,000 customers in the residential, hospitality and commercial markets across the U.S. Ultimately, the shareholders realized a liquidity event at a very attractive valuation, while ensuring the preservation of HMI Cardinal’s legacy, employees and community.

Sadly, the Company’s leader, Don Ross, passed away after growing the business for 35+ years.  It was extremely important to his family to find an appropriate steward that could continue to run the Company in Don’s legacy with the same love and respect for the employees that Don had.

Solution:

After narrowing the possible suitors to the three finalists the shareholders felt most comfortable with, we negotiated a transaction with the global private equity firm, the Riverside Company.  After several meetings, the shareholders became comfortable with Riverside and believed they would be the best steward to help take the Company to the next level while maintaining important elements of the Company’s culture.

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Situation:

Founded in 1935 and based in Yakima, WA, Shields Bag & Printing Co. (“Shields”) is a top 25, independent, custom blown film extruder, printer and converter. Family owned for four generations, Shields is  one of the largest privately held film and flexible packaging companies in the United States.

Leveraging exceptional financial performance and a strong management team, Shields’ shareholders sought a partner with additional resources, institutional knowledge and relationships to execute on the company’s strategic plan to accelerate growth. The shareholders believed a strategic partner with deep flexible packaging experience would be the best steward for the company, while simultaneously enabling the shareholders to realize a liquidity event at maximum market value.

Solution:

We prepared the company for a sale process and contacted a highly focused universe of strategic buyers, as well as a select group of financial sponsors with deep flexible packaging experience. As a result of our careful selection of potential suitors, numerous buyers aggressively pursued the transaction, with Novolex emerging as the prevailing party.

Ultimately, the shareholders realized a liquidity event at a very attractive valuation, while ensuring the preservation of Shields’ legacy, employees and community.

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Situation:

TravisMathew was formed in 2007 by two PGA Tour professionals who saw an opportunity to provide casual and performance apparel to male consumers that could be worn on and off the golf course. The founders built an organization focused on exceptional people, quality products and outstanding customer service. Today, the brand is sold in department stores, country clubs, and TravisMathew’s experiential retail stores and website.

As the Company continued to grow, the Shareholders were looking for a liquidity event and a partner that was well experienced and versed in apparel and international markets.  The Shareholders saw their omnichannel strategy working and believed someone with deep resources would help them increase their geographic reach and product offerings.

Solution:

We worked with the company’s shareholders and management team to negotiate a transaction with the hard goods giant, Callaway Golf Co.

Management believed Callaway’s resources, distribution network and synergistic channels could further accelerate TravisMathew’s impressive growth.

At the same time, Callaway saw TravisMathew as a great fit in its strategy to grow in areas tangential to golf and an opportunity to capture double digit growth in the lackluster golf environment.

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Situation:

Founded in 1993, Santa Cruz Bicycles, Inc. (“SCB”) is a leading, innovative manufacturer of high-end, customizable mountain bikes utilizing aluminum and carbon materials.  SCB has a strong history of innovation and is founded on superior design and engineering capabilities.  The Company is one of the fastest growing and premier mountain bike brands in the world.

Rob Roskopp (Co-Founder and CEO) and Rich Novak (Co-Founder) were evaluating various strategic alternatives to take the Company through its next phase of growth.  The shareholders strongly believed a strategic partner with deep distribution channels in Europe would be in the best position to capitalize on the Company’s various growth opportunities.  Simultaneously, the shareholders’ objectives were to realize a partial liquidity event at a maximum market value.

Solution:

We were engaged to identify a partner that recognized SCB’s value proposition and the worldwide potential of the SCB brand.

SCB ultimately entered exclusive negotiations with Pon Holdings, B.V. (“Pon”), a multi-billion-dollar European conglomerate.

Pon saw in SCB a premier brand with strong distribution in the US and tremendous potential to leverage Pon’s distribution in Europe.

We negotiated an extraordinary valuation and transaction structure, addressing the objectives of multiple shareholders.

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Situation:

Founded in 1987, by Eli Levite, Johnny Was (“JW”) is a fast-growing, high-end women’s apparel company.  JW is embraced by free-spirited and confident women who are drawn to the company’s unique signature aesthetic: a juxtaposition between vintage and modern, reserved and unrestrained, traditional and innovative.  Johnny Was consists of a collection of brands including Johnny Was Collection, JWLA, 3J Workshop, Biya, Pete & Greta, and 4 Love and Liberty.

Having experienced rapid growth in recent years, the Levite family (majority shareholders) were evaluating various strategic alternatives to take the company to the next level while simultaneously realizing a liquidity event.  The shareholders strongly believed a partner with deep knowledge of running large consumer branded companies would be in the best position to help them capitalize on the company’s various growth opportunities.

Solution:

We were engaged to prepare JW for a transaction that maximizes value with a partner that recognizes the potential of the JW brands.  JW ultimately entered exclusive negotiations with Endeavour Capital (“Endeavour”), a private equity firm that invests in Western U.S.-based middle market companies.  Endeavour saw a collection of brands with strong customer loyalty and tremendous potential to accelerate the company’s direct-to-consumer business strategy.

We negotiated a transaction that addressed the objectives of multiple shareholders, including retention of a material ownership stake in the business.


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Dylan Bell joined the Hexagon Capital Alliance team as an Analyst in 2019.

Mr. Bell earned bachelor’s degrees in Accounting and Business Administration from the Argyros School of Business and Economics at Chapman University.

Brandon Clewett is a Managing Director with Hexagon Capital Alliance. He has 17+ years of capital markets experience and has been involved in 100+ merger & acquisition transactions, recapitalizations, and debt and equity capital raises for middle-market clients.

Mr. Clewett’s sector experience includes E-commerce, Consumer Branded Products, Infrastructure and Specialty Manufacturing.  Prior to Hexagon Capital Alliance, he was a Managing Director with Moss Adams Capital, and a Director with KPMG in their corporate finance group.  Before joining KPMG, he was a Vice President at McGladrey LLP in their investment banking division.

Mr. Clewett earned a bachelor’s degree in finance from the Haas School of Business at the University of California, Berkeley and lives in Orange County, CA with his wife and three sons.

Andrew Suen is a Managing Director with Hexagon Capital Alliance. He has 13+ years of experience advising and executing middle-market mergers and acquisitions transactions, including more than 75 sell-side, buy-side and strategic advisory assignments.

Mr. Suen serves as head of the firm’s Diversified Industrials practice. His sector experience includes Converted Packaging Materials; Industrial Technology; Supply Chain Management & Distribution; Automotive Aftermarket; and Business & Professional Services. Prior to Hexagon Capital Alliance, Mr. Suen served in similar capacities advising middle-market companies and business owners with Moss Adams Capital LLC; Mesirow Financial, Inc.; and Brown Gibbons Lang & Co.

Mr. Suen earned a bachelor’s degree in finance and international business from Indiana University Bloomington and lives in Orange County, CA with his wife, daughter, and two sons.

Bradley Erhart is a Vice President with Hexagon Capital Alliance. He has 10+ years of capital markets experience and has been involved in numerous merger & acquisition transactions, recapitalizations, and debt and equity capital raises for middle-market clients.

Mr. Erhart’s sector experience includes Specialty Manufacturing; Supply Chain Management & Distribution; Direct-to-Consumer; and Consumer Products. Prior to this position, he was a Vice President with Moss Adams Capital LLC. He served in similar capacities advising middle-market companies and business owners with Strategic Equity Group, a boutique investment banking and valuation advisory firm. Mr. Erhart began his career as an Analyst at Murray Devine, a valuation advisory firm in Philadelphia.

Mr. Erhart earned bachelor’s degree in Economics from the University of Pittsburgh. He currently resides in Orange County, CA with his wife and dog.