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High Road sells portfolio company Handi Quilter

High Road Capital Partners has sold portfolio company Handi Quilter marking the third exit for the firm’s debut fund, High Road Capital Partners Fund I, LP.  

North Salt Lake, Utah-based Handi Quilter is a leading developer and manufacturer of mid- and long-arm quilting machines for the consumer quilting market.  The company was acquired by Blue Point Capital Partners. Transaction terms were not disclosed. 
“In the three years High Road owned Handi Quilter, revenue grew by 76% and EBITDA by 87%,” says Bob Fitzsimmons, High Road’s Managing Partner. “Handi Quilter exemplifies our strategy of buying niche leaders and working with management to build bigger, more efficient, and qualitatively better businesses.  In partnership with Handi Quilter’s outstanding management team, we executed our value creation strategy by introducing product line improvements and extensions, expanding distribution capabilities, and penetrating a large base of enthusiast quilters.”
Mark Hyland, CEO of Handi Quilter Holdings, Inc, says: “With High Road’s support, we have achieved strong organic growth in North America while expanding into new international markets.  We made significant investments in product technology and innovation, and in our team, consumer education and training programs.  These investments have helped strengthen the Handi Quilter brand and deepen our relationships with quilters worldwide.”

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