SUSAN LAWRENCE SOLD: Women’s moderate knitwear firm Susan Lawrence was sold to Rousso Apparel Group, a women’s moderate sportwear firm. Terms of the deal were not disclosed. Both have annual volume in the $40 million range, according to market sources.
Mickey Klein, managing director of the Astor Group, which represented Susan Lawrence, said, “Susan Lawrence’s strong position in knitwear will allow Rousso to broaden its knitwear offering.”
Victor Rousso, Rousso’s chief executive officer, said, “We are excited about the opportunity to add Susan Lawrence’s product and expertise to our group.”
The Susan Lawrence management team will stay on to partner with Rousso Apparel.
Klein noted that firms such as Susan Lawrence and Rousso Apparel are representative of middle-market firms engaged in mergers and acquisitions activity. “Companies with annual volume in the $50 million range are viable mergers and acquisitions candidates. Some of the lower middle-market players are very active. It’s a great opportunity to add on to their existing holdings for the growth that they need.”