Industry: Consumer Products; Craft and Hobby
Date of Acquisition: December 2008
Location: North Salt Lake City, Utah
Handi Quilter, Inc. is a leading manufacturer of branded mid-arm and long-arm quilting machines, portable frames, tables, and accessories for home and small-business quilters. Handi Quilter was founded in 1999 by an avid quilter who recognized that neither the standard sewing machine nor the pre-existing long-arm quilting machines met the needs of the individual quilter. Developed by quilters for quilters, the Handi Quilter brand is widely recognized within the fast growing niche quilting demographic and the company is known as the foremost innovator in the high-end quilting machine market. Based in Utah, Handi Quilter machines and accessories are distributed nationally.
In late 2008, Hanover Partners acquired the company from a private equity firm and management. Management remained with the business in their respective leadership positions and partnered with Hanover to re-invest in the recapitalized entity.
In a highly-successful exit for investors and management, Hanover sold Handi-Quilter to a middle-market private equity firm in 2011.