Brockway Moran & Partners, a Florida-based private equity firm, announced today that it has acquired TorQuest Partners' majority interest in DayMen Photo Marketing LP ("DayMen" or the "Company") in partnership with the current management team.
Headquartered in Northern California, DayMen is a leading provider of innovative bags, packs, and cases designed to carry and protect photographic, imaging and other electronic equipment such as GPS devices, laptops and tablet computers. The Company's flagship Lowepro® brand has been the leading name in premium camera protection since 1972. DayMen also sells totes, cases and sleeves under its Acme Made® brand name. The Company's products are sold in more than 100 countries through its subsidiaries in the United States, Canada, the United Kingdom, Australia, Germany, Switzerland and Poland as well as through a network of independent distributors. In addition, DayMen distributes a number of leading third-party photographic and imaging equipment brands in select geographies.
Gil Roberts, CEO of DayMen, said, "TorQuest has been an ideal partner for us. Their deep financial and operating expertise helped to guide us through a critical phase of growth and ensured that we emerged a stronger company. We are confident that our new partnership with Brockway Moran & Partners will be equally successful. We look forward to working with their experienced team."
Marc Lipton, Partner at TorQuest, said, "DayMen has been an outstanding investment for TorQuest, but more than achieving a great result for our investors, we have been privileged to work with Gil and his team to build a great business." Eric Berke, Managing Partner at TorQuest, said, "We congratulate DayMen on their impressive accomplishments over the last five years and wish the company continued success as they now partner with Brockway Moran & Partners to capitalize on a new set of opportunities."
Peter C. Brockway, Managing Partner at Brockway Moran & Partners, stated, "Lowepro is a long-standing and respected brand in the photography industry and a true innovator. We are excited to partner with an outstanding management team to further expand the Company along multiple dimensions."
About TorQuest Partners:
TorQuest Partners, founded in 2002, is a Canadian-based manager of private equity funds. With more than $700 million of equity capital under management, TorQuest seeks to pursues investments in middle market companies with the goal of building value. TorQuest has investments in consumer products, business services, specialty chemicals, traffic system technology and fuel management system companies.www.torquest.com
About Brockway Moran & Partners:
Brockway Moran & Partners is a private equity firm with more than $1.3 billion of capital under management. The firm acquires growth-oriented middle market companies valued between $50 million and $300 million in partnership with exceptional management teams. Brockway Moran focuses on businesses with significant growth opportunities either through internal expansion, industry consolidation or innovative business strategies. The principals of the firm have a record of productively working with management teams to build companies into larger and more diverse enterprises. Brockway Moran & Partners invests in a broad spectrum of industries with significant experience in consumer, industrial and service businesses. Since 1998, the firm has completed over 60 acquisitions. For more information, visit www.brockwaymoran.com.