Team Partners Leads Recapitalization of Wolf Manufacturing
Dallas, TX -- March 3, 2016 -- TEAM Partners, LLC, a Dallas-based private investment firm, announced that it has completed a recapitalization of Wolf Manufacturing Company, Inc. ("Wolf") a Waco, Texas based provider of travel and comfort products. Financial terms of the transaction were not disclosed.
Wolf, with over 70 years of operation, offers a full range of high quality travel and comfort products including neck and travel pillows, fleece throws, stadium blankets, nursing pillows and related products. Wolf sells to leading retailers including airport stores, mass merchandisers, drug and pharmacy stores, travel centers, specialty stores, off-price retailers, as well as online retailers. Most recently, Wolf's memory foam pillow was featured as Oprah's favorite travel pillow and its fiber filled pillow was included in the 2016 Golden Globes gift bags.
In connection with the recapitalization, Roy Whitehead has joined Wolf as CEO. Whitehead has over 25 years of consumer experience with companies such as Walmart, 7-Eleven, Frito Lay, Coca-Cola and Walls Industries. Whitehead commented, "Abbye Silver and Jeff Wolf have done a tremendous job building Wolf to where it is today. I look forward to working with them, our employees, customers and vendors to implement the company's growth strategy."
TEAM managing partner David Mann said, "We are thrilled to become partners in this important milestone for Wolf. This is a classic TEAM investment profile - family owned business, long operating history and significant value creation potential. We have high expectations for the future direction of the company."
Abbye Silver and Jeff Wolf commented, "Establishing this partnership will not only provide additional financial resources to support the company, but also bring new talent and expertise to the organization. Our new partners are committed to carrying on the family legacy which was an important objective for us in a transaction. We are excited about this new chapter at Wolf."
Bowside Capital, Plexus Capital and Black Bear Partners invested alongside TEAM and Whitehead.