Winter Park, FL – September 12, 2023
1858 Capital Partners, a middle-market M&A advisory firm, is pleased to announce the successful acquisition of Charity Shoes and Clothing, Reclaimed Textiles and Co., and World Wear Project by Greybull Stewardship. 1858 Capital Partners served as the exclusive financial advisor to Charity Shoes and Clothing, Reclaimed Textiles and Co., and World Wear Project. The transaction was led by Managing Director David Simon, along with Vice Presidents Adam McKinnon and Tom Harrington.
Headquartered in Dallas, Texas, and founded in 1994, Charity Shoes and Clothing, Reclaimed Textiles and Co., and World Wear Project is a family of companies known for being market leaders in textile recycling and distribution.
“Greybull Stewardship is the perfect buyer for the RTCM family of companies. It has been clear since we first discussed this opportunity with Greybull that they respect and intend to maintain the special culture built by Scott Birnbaum over the last 30 years,” said Alan Perkins, seller of the Companies. “I am thrilled that we have been able to consummate the transaction with Greybull and have no doubt that they will continue to do everything they promised to do because that has been my experience throughout this process. I look forward to watching the companies prosper as Greybull grows the business and brings professional management to bear. 1858 Capital Partners was a true partner throughout a very difficult process, constantly available, constantly thoughtful, and constantly providing useful guidance. As both the principal and the attorney in this transaction, I had the benefit of seeing their value from both perspectives. I will not hesitate to recommend 1858 to clients in the future because I know they will provide quality service for a fair fee.”
David Simon, Managing Director at 1858 Capital Partners, said, “It was a privilege to work with Alan Perkins as executor of the estate of Scott Birnbaum and the management team at RTCM, Reclaimed Textiles, Charity Shoes and Clothing, and World Wear Project in a collective sale of the companies to Greybull Stewardship. This was an efficient effort to successfully transition the ownership to Greybull due largely to the hard work and respectful negotiations between buyer and seller. 1858 Capital Partners is pleased to have been the advisor facilitating this sale.”
The financial terms of the transaction were not disclosed.