SnugZ USA Recapitalizes With Tower Arch Capital
SnugZ USA, West Jordan, Utah, announced that it has undergone a recapitalization with Tower Arch Capital.
"SnugZ has grown to become a leading player in the promotional products industry, starting with lanyards and identification products, and expanding into personal care and premium gifting," Brandon Mackay, president and CEO of SnugZ USA, said in a press release. "We're proud of our growth over the past 30 years, and believe this partnership with Tower Arch Capital will further strengthen our ability to innovate new products, expand into additional product segments, and target and acquire existing promotional product supplier businesses to better serve our loyal customers."
Mackay told Promo Marketing that with the recapitalization, SnugZ USA will look to expand its existing product categories as well as venture into new areas. He added that he was introduced to the Tower Arch Capital through a mutual friend.
"We are thrilled to partner with Brandon and his team," David Topham, a partner at Tower Arch Capital, said in the press release. "SnugZ's innovative manufacturing and forward-thinking culture have advanced the promotional product industry and what it means to deliver high quality and creative products. This next chapter of growth will be very exciting as we continue to enhance SnugZ's excellent design, delivery and customer service offerings."
Moving forward, Mackay said that SnugZ is looking for new possibilities for growth with acquisitions.
"We're looking for partners who have great design and function that have an appetite to go to the next level inside a platform like SnugZ," he said. "Where we want to lead, innovate and have a great time at work."
Financial details of the deal were not released. All SnugZ USA staff, including Mackay as CEO, will stay in their current positions.
For more information on SnugZ USA, visit www.snugzusa.com.