Sentinel Capital Partners sells Spinrite


Establishes Company as Craft Yarn Leader


NEW YORK, October 8 , 2015 – Sentinel Capital Partners, a private equity firm that invests in promising companies at the lower end of the middle market, today announced its sale of Spinrite LP, North America's leading manufacturer of consumer craft yarn. Terms of the deal were not disclosed.

Headquartered in Listowel, Ontario, Spinrite is the largest producer and marketer of craft yarn in North America. Established in 1952, Spinrite is well known to the hobby market for its Patons, Bernat, Lily, Peaches & Creme, Caron and Phentex brands, which are sold through mass merchants, craft stores, and independent specialty stores. Spinrite markets approximately 4,000 SKUs across more than 100 product families, possesses the most diversified craft yarn manufacturing operation in North America, and is recognized as a market leader in new product development.

"We have been fortunate to partner with Spinrite's talented management team that has significantly increased sales since 2008," said Eric Bommer, a partner at Sentinel. "Spinrite has a highly defensible business model, an exciting growth strategy, and we wish them continued success as they enter their next stage of growth."

"Our long partnership with Sentinel has been highly productive," said Spinrite CEO Ryan Newell. "Our work together over the past decade has helped refine our business model and well positions us for long term growth."

For Sentinel, 2015 has been a highly productive year. Since May 2015, Sentinel acquired Corporate Visions, a provider of marketing and sales enablement solutions; Fazoli's Group, a franchisor and operator of Italian fast casual restaurants; and Driven Performance Brands, a manufacturer of high performance automotive aftermarket products for car and truck enthusiasts. During this period, Sentinel sold IEP Technologies, a global leader in industrial explosion protection; Vintage Parts, a leader in supply chain, logistics, and distribution management services for slow-moving and inactive parts; and Hospice Advantage, a leading hospice care organization.