Costa Mesa, Calif. – July 21, 2008 – A private investor group led by Ted Nelson has acquired Hilo Hattie Inc. Transaction terms were not disclosed.
McGladrey Capital Markets LLC (formerly RSM EquiCo Capital Markets) initiated the transaction, led the negotiations and acted as the lead financial advisor to Hilo Hattie. Kobayashi, Sugita & Goda (www.ksglaw.com) acted as the legal advisor to Hilo Hattie and Stradling Yocca Carlson & Rauth (www.sycr.com) provided legal counsel to Ted Nelson.
"I have the utmost confidence in Ted Nelson and his group’s ability to successfully grow the company," said Jim Romig, Hilo Hattie founder. "I'm extremely proud of the reputation Hilo Hattie has built in the islands – as a favorite place for local residents and visitors to shop for aloha attire, gifts and made-in-Hawaii products. The company will continue to share Hawaii's culture, warmth and aloha spirit with the world."
A team of McGladrey Capital Markets professionals contributed to the successful close of this transaction. Paul Weisbrich, senior managing director, and Mark Agosto, managing director, led the deal team.
About McGladrey Capital Markets
McGladrey Capital Markets LLC (www.mcgladreycm.com) is a global provider of investment banking services to private and public companies with annual revenues of up to $1 billion. The firm’s services include mergers, acquisitions, divestitures, recapitalizations, capital raising, fairness opinions and restructurings. McGladrey Capital Markets, which offers in-depth expertise in 12 distinct industry sectors, brings together companies, capital and creativity on a national and international scale to help clients achieve their personal and strategic objectives.
McGladrey Capital Markets is affiliated with RSM McGladrey Inc., a professional services firm providing accounting, tax and business consulting. Both firms are units of H&R Block Inc. (NYSE: HRB), the world’s preeminent tax services provider.
McGladrey Capital Markets’ international headquarters are located in Costa Mesa, Calif. It also has offices in Chicago, Boston, New York and London. The firm is a member of FINRA and SIPC.
About Hilo Hattie Inc.
Hilo Hattie (www.hilohattie.com), based in Honolulu, Hawaii, is one of the world’s largest manufacturers of Hawaiian apparel and one the largest retailers of island lifestyle products. Its core brand is one of the most established and recognizable brands of Hawaiian merchandise in the world, producing over one million garments per year. Hilo Hattie serves over 2.5 million shoppers a year and has served more than 60 million customers since being founded over 40 years ago. Hilo Hattie currently has seven stores in Hawaii and two in California.