NEW INVESTOR: Private-equity firm Larsen MacColl Partners has taken a majority stake in Bills Khakis. Terms of the deal, which closed Dec. 21, are not being disclosed, according to Michael O’Hara, chief executive officer of Consensus Advisors, the financial adviser to Bills Khakis. Radnor, Pa.-based Larsen invests in profitable consumer-focused firms, with an emphasis on smaller businesses that have significant growth potential.

Bills Khakis’ founder, Bill Thomas, will remain with the firm. O’Hara said the investment stake leaves the men’s wear company “debt-free.”

This story first appeared in the December 28, 2012 issue of WWD. Subscribe Today.

Bills Khakis’ collection includes pants, shorts, jeans, shirts and jackets. The headquarters and design team, as well as the distribution facility, are located in Reading, Pa. Its cut and sew operations are based in Virginia, Tennessee and New York City, according to O’Hara.

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