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Resilience makes seventh investment from third fund with clothing deal

9 Jan 2014

Cleveland, US-based lower mid-market private equity firm Resilience Capital Partners has bought the direct sale business of G&K Services, through its newly-formed platform company Affinity Specialty Apparel.

Affinity sells and distributes occupational apparel and services and is Resilience Capital Partners’ first acquisition in the corporate uniform industry and its seventh platform investment for The Resilience Fund III.

Resilience has partnered with Michael DiMino who will act as CEO. DiMino was former president and COO of Uniforms to You, a direct sale uniform division of Cintas.

Resilience invests in niche-oriented manufacturing and business service companies located in the Midwestern and Mid-Atlantic United States with “sustainable market positions and a clear path to cash flow improvement”. It targets platform businesses with $25m to $250m in revenues and since its founding in 2001, it has invested in 35 companies under 21 platforms. Its portfolio companies collectively represent over $2bn in revenues.

Resilience manages in excess of $320mn for its global investor base which includes pension funds, insurance companies, foundations and endowments, fund of funds, wealth managers, and investment consultants.

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