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It manages capital on behalf of institutions and individuals around the world, with clients in North America, Asia, Europe, the Middle East and Latin America. and Canadian populations within two days, and 44 states in just one day.įounded in 1978, CD&R has offices in New York City and London. S&S maintains that its products can reach 99% of the U.S. Those include the purchase of the large Canada-based wholesale apparel provider Technosport – an acquisition announced in December 2019. Since 2010, S&S has expanded geographically and made three key acquisitions. The company stocks more than 80,000 products. Those brands include adidas, Champion (asi/59528), Columbia, Bella+Canvas (asi/39590), Top 40 supplier Next Level Apparel (asi/73867) and Top 40 supplier Gildan (asi/56842). With approximately four million square feet of warehouse space and more than 2,000 employees, S&S specializes in distributing blank sportswear, corporate apparel and accessories, including T-shirts, fleece, sweatshirts, headwear, athletics and outerwear, from more than 100 brands. S&S reported that total company revenue is currently about $1.5 billion. The expansion has been especially pronounced over the last decade or so, with the company rising to become the third largest supplier in promo, based on 2019 North American promo products industry revenue of $1.3 billion. “We look forward to working together to achieve our vision for continued strong growth that creates exciting opportunities for employees, vendors and customers, as well as the local communities where they operate.”įounded in 1988, S&S has grown from a successful regional supplier into a North American apparel juggernaut. “We are delighted to partner with a talented, entrepreneurial S&S team that shares our core values in a business we know and understand,” said CD&R partner Ken Giuriceo. S&S executives noted that there will be no management changes, adding that the long-tenured executive team will continue managing and operating the business. CD&R operating partner John Compton, a former president of PepsiCo, will become Chairman of the Board. Once the transaction closes, Shannon will assume the role of S&S’s CEO. Quick analysis of PE’s growing presence in promo /Mjhv4055Dw “CD&R has a deep understanding of our business, from sourcing, freight and distribution center scaling, to technology and sales and marketing,” Shannon said.ģ of the top 5 suppliers in #promoproducts are now private equity-owned following today’s news of S&S Activewear being acquired. Shannon said that CD&R is the perfect partner for S&S, as the firm is well-equipped to support long-term growth strategies. “As successful as we have been over the last two decades, we believe our growth story is just beginning.” “This transaction is an important milestone for S&S and a validation of our continued success,” said Jim Shannon, president of S&S and a member of Counselor’s 50 Power, a definitive ranking of the most influential people in promo. Shannon was 25th on Counselor’s most recent Power 50 list, a definitive ranking of the most influential people in promo. Jim Shannon, current president of S&S Activewear, will become the company’s CEO once the acquisition by Clayton, Dubilier & Rice closes. Financial terms of the transaction, which is expected to close in the first quarter of 2021, were not released. CD&R will be the majority stakeholder in S&S. On Wednesday, January 20, S&S announced that Clayton, Dubilier & Rice (CD&R) is investing alongside current owners and management to acquire the Bolingbrook, IL-headquartered supplier. Now, to fuel future growth, the Top 40 firm will have the backing of a private equity company that’s managed $30 billion worth of investments in 95 companies. Over the last decade, S&S Activewear (asi/84358) has grown to become only the third billion-dollar supplier in the promotional products industry.