Spinrite
Spinrite

Ryan Newell

Spinrite
Ryan Newell, CEO, Spinrite
“TorQuest was an ideal partner for us. Their commitment to investing in our business and our people provided a solid platform for growth and success.”
Spinrite

After close to a decade of majority ownership under a previous private equity shareholder, Spinrite came to market in mid-2014 with a management team that was eager to realize the next phase of growth for the business with a motivated capital partner. TorQuest was keenly interested in the business during the initial sale process in late 2014, attracted by the Company’s enthusiast consumer base and what we saw as an exceptional management team led by CEO Ryan Newell. 

Despite our initial interest, our disciplined view on value resulted in TorQuest being excluded from the later stages of the initial sale process. Ultimately this sale process was unsuccessful and TorQuest was able to re-engage with management and the vendors a few months later.

As we dug into the business and industry further, we became highly excited by the possibility of partnering with an outstanding management team in a niche consumer enthusiast category, and acquired the business with significant equity re-investment from management and other top employees.

Throughout our ownership, we worked with management as they invested in Spinrite’s people and technology to develop a multi-pronged digital marketing and e-commerce strategy, in addition to driving continued product innovation that further improved the Company’s leading market share within the craft yarn industry. 

The result was robust top-line and EBITDA growth, all at a pace that was well ahead of our and management’s plan. Following a robust sale process, TorQuest sold Spinrite Comvest Partners for an excellent return. CEO Ryan Newell and the entire management team have remained with the business as it continues its growth strategy within the North American craft industry.