Mirus Advises Berroco, Inc. on its Sale to Premier Needle Arts
Mirus Capital Advisors announced that it advised Berroco, Inc. in its sale to Premier Needle Arts (PNA), a Blue Point Capital Partners portfolio company. Financial terms of the deal were not disclosed. Berroco is a leading supplier of yarns and patterns for knitting and crochet, sold through local yarn shops throughout the US and Canada and through ecommerce retailers.
Berroco’s co-founders Warren and Caroline Wheelock selected PNA for its likeminded core values, family focus and business philosophy. “We are pleased that our current customers and the next generation of Berroco customers will be served as part of the PNA family, which understands the crafting space and embraces customers’ needs, especially those of the local yarn shops,” said Warren Wheelock. “We are confident that PNA will help the Berroco brand drive a path for the future by continuing to provide ‘Yarn for All Makers’™.
Mr. Wheelock praised Mirus’s management of the sale process. “The team at Mirus was professional at every stage and we appreciated their assistance through the process.”
“The crafting space is an exciting market in which Mirus is experienced. We’re proud to have worked with the Wheelocks in this transaction and pleased to have helped them achieve a successful outcome reflecting the value of their hard work building and leading Berroco,” said Mirus partner Stuart Rose.
About Berroco, Inc.
Located in Rhode Island, Berroco is a leading brand, designer, importer and wholesaler of yarns, patterns, and knitting supplies in the US and Canada. The Berroco brand is widely known for its high quality, and the Company holds numerous trademarks for its unique yarns. Berroco was founded in 1989 by Warren and Caroline Wheelock. Warren represents the sixth generation of the Wheelock family working in the textile industry, dating to the early 1800s.
About Mirus Capital Advisors
Successful business owners have turned to Mirus Capital Advisors for more than 30 years to help them realize their ultimate accomplishment – the sale of their business. As a mid-market investment bank focused on mergers and acquisitions, Mirus drives successful deals for companies in the consumer products, healthcare, business services, industrial, and technology industries. Mirus has proven time and again that its deep industry expertise, focus on relationships, thorough preparation and unwavering commitment to every deal lead to meaningful accomplishments for business owners. For more, visit www.merger.com.