Second Skin Garment Co. is a leading value-added importer and distributor of golf attire to the Canadian pro shop market, through its Second Skin and Hollas brands. Additionally, Second Skin is the exclusive North American distributor, and a collaborative design partner of Phoenix (ski and snowboard clothing), and the exclusive Canadian distributor and custom embroiderer of Ahead (headwear). The Company is located in Woodbridge, Ontario.
NewPoint was engaged as exclusive financial advisor to sell the Company. The controlling shareholder specified a narrow group of potential purchasers he wanted to approach, which included the Vice President of Sales and Marketing, the only other shareholder in the business.
NewPoint executed a highly confidential sale process which ultimately resulted in the sale of the business to management and its strategic partner (Waterford Industries - the licensee for Weir Golf Inc. and owner of the Grace Lane brand). A key value-add of NewPoint was to provide assurance to the selling shareholder that he was receiving a fair price for the business. This is often difficult to determine when selling to a non-arms length party if the market has not been widely canvassed.
Successful Sale of Business to Management.