Mount Vernon Mills Press Release

PRESS RELEASE: Bravaldo Capital Advisors Closed Transaction Announcement

October 28, 2019 – Bravaldo Capital Advisors, Inc. (“BCA”) is pleased to announce the successful divestiture of the Riegel consumer products division (“Riegel”) from its client, Mount Vernon Mills, Inc. (“Mount Vernon Mills”) and sale to Lion Equity Partners. Riegel, headquartered in Aiken, SC, is an importer, manufacturer and supplier of tablecloths, napkins, sheets, towels, bedding and other linens for hotels, restaurants, linen suppliers, retailers, and healthcare customers.  Mount Vernon Mills is a Mauldin, SC headquartered diversified textile manufacturer supplying fabrics to the apparel and industrial markets

Bill Duncan, CEO of Mount Vernon Mills, commented, “Mount Vernon Mills is rarely a seller.  In this case, our consumer products division became less important to our core operations and growth plan.   BCA gave great advice on maximizing the sale and on how to position the business as a stand-alone acquisition opportunity”.  Bill Josey, CEO of Riegel added, “Finding the right partner was everything to our Riegel management team.  BCA did an exceptional job working with us to prepare for the sales process and ultimately to select an exceptional growth partner.”

Don Bravaldo, President of Bravaldo Capital Advisors, commented “This transaction success depended on balanced and constant communication to multiple client constituencies.  Because the division was embarking on several disruptive product launches and growth initiatives, it was important to BCA that we find the right partner that would position Riegel for its next phase of growth.  We are delighted that Lion Equity is that next partner.”

Riegel Linen, LLC (www.riegellinen.com), has been making Worry-Free Textiles since 1838. Riegel, through its market leading innovation and global distribution capabilities, has developed a rich heritage of delivering quality textile products to the hospitality, linen supply, retail and healthcare sectors. Product collections include high-end cotton products in its DiRōNA® collection, blended products in the Beauti-Damask collection as well as Permalux®, RieNu® byRiegel and the industry leading, Premier® Spun Polyester by Riegel. Headquartered in Aiken SC, and operating a manufacturing facility in McCormick, SC and a network of salespeople and warehouses strategically located across the US, Riegel is a market leader in product innovation, including technical breakthroughs in fiber formation and color retention, and enabling products to endure the heavy wear and tear of the commercial laundering environme

Mount Vernon Mills, Inc. (www.mvmmills.com), is a 175-year old diversified and integrated manufacturer of textile, chemical and related products for the apparel, industrial, institutional and commercial markets.  Mount Vernon manufactures denim, fabrics with indigo and sulfur dyeing, piece dyed and finished fabrics, including flame retardant, military uniforms, sportswear and career apparel.  Headquartered in Mauldin, SC, Mount Vernon has approximately 2,400 employees and operates 12 production facilities in the U.S. located in North Carolina, South Carolina, Georgia and Mississippi.

Lion Equity Partners (www.lionequity.com) is a Denver, CO based private equity firm focused on acquiring controlling interests in middle-market businesses across multiple industries. Lion Equity specializes in acquiring divisions of larger corporations and has significant experience in the divestiture process. Lion Equity’s investment strategy is centered on creating value in its portfolio companies through a combination of organic growth and add-on acquisitions. Lion Equity supports its portfolio companies with strategic and financial resources, operational guidance, and M&A expertise.

Bravaldo Capital Advisors (www.bravaldocapitaladvisors.com) is a boutique Atlanta based mergers & acquisitions and corporate finance advisory firm, providing independent economic and financial advice and execution services for lower middle market companies in a variety of industries with revenues typically between $10 million and $300 million. BCA offers a full range of transaction and advisory services, guiding clients through sell-side transactions and exit strategy planning, growth through acquisition, debt restructuring and corporate recapitalization. The BCA team is a senior deal team with extensive knowledge and insight into the full life cycle of M&A and corporate finance engagements.

For more information, contact Mark Heyman at mheyman@bc-advisors.com or 404-857-2221.

Don H. Bravaldo III, CPA




Eric Strese




Janine McPartland

Office Manager


Mark Heyman, CPA

Senior Vice President



Brady Osborne

Senior Associate



Jeanne Pearson

Business Development Associate