Mirus Advises Valley Fibers Corporation on its Sale to LoveCrafts Group Limited
Mirus Capital Advisors announced that it advised Valley Fibers Corporation, dba WEBS America’s Yarn Store and yarn.com, in its sale to LoveCrafts Group Limited. Financial terms of the deal were not disclosed.
The acquisition combines two leading marketers of yarns, weaving, and spinning supplies, and enables UK-based LoveCrafts to expand its North American crafting-focused ecommerce business. “We’re looking forward to building a significant player in the worldwide crafts market with the LoveCrafts team,” said Steve Elkins, CEO of Valley Fibers. “We are impressed with the people and vision of LoveCrafts. We see many opportunities ahead, combining our expertise and relationships in the yarn industry with LoveCrafts’ marketing and technological strength in ecommerce. We look forward to serving the crafting and yarn communities even more effectively than before, as members of the LoveCrafts family.”
“We’re proud to have supported Steve and Kathy Elkins in this important transaction. The broad ecommerce and crafting spaces are exciting markets in which Mirus is highly experienced,” said Mirus partner Stuart Rose. Kathy Elkins, Vice President of Valley Fibers said, “Mirus was instrumental as we navigated the sale process. The Mirus team offered support and kept us focused and on track. They were honest and upfront at every turn and every speed bump that we hit. We sold our business and Mirus negotiated a deal that we are thrilled with, and we have the team at Mirus to thank for their hard work and dedication to our long-term goals. Their expert guidance, advice, and knowledge of mergers and acquisitions and the process involved in closing a deal were invaluable.”
Following the transaction, LoveCrafts plans to maintain Valley Fibers’ retail store, product development, and marketing staff in Northampton, MA and its shipping operation in Easthampton, MA.
About Valley Fibers Corporation
Founded in 1974, Valley Fibers (dba WEBS America’s Yarn Store) began as a marketer of weaving supplies by the parents of Steve Elkins. It soon expanded its product offering to include quality yarns and knitting supplies. Purchased in 2002 by Steve and Kathy Elkins, the pair grew Valley Fiber, yarn.com, and the country’s largest brick and mortar yarn store into the country’s largest ecommerce retailer of yarns, knitting and weaving supplies.
About LoveCrafts Group Limited
Based in London, LoveCrafts is a leading global ecommerce marketer of crafts supplies. Founded in 2015, the company markets crafting supplies in the UK, EU, North America and Australia.
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.Back to Transactions