Press Release

Closed Transaction Announcement
Bravaldo Capital Advisors
Has been acquired by:

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.”

For more information, contact:
Don Bravaldo at dbravaldo@bc-advisors.com or Mark Heyman at mheyman@bc-advisors.com