
The highlight of the ACG conference today was the panel discussion about two women owned businesses, Handi Quilter and Making Memories Wholesale, Inc., that had been purchased (80%) by Peterson Partners, a Utah-based private equity fund.
For anyone (as clueless as I) that couldn't imagine how quilting or scrapbooking could create real businesses, it was a fascinating session.
Laurel Barrus, founded Handi Quilter, a manufacturer of quilting frames and equipment, after running a small quilting business out of her home and realizing that she needed better equipment. She designed, contracted for its manufacture and sold the finished products--lots of them.
She decided to partner with Peterson late last year in order to step out of the role of CEO and get back to a more balanced life. Peterson helped her find a new CEO to take the firm to the next level.
The founder of Making Memories, Bridgette Server, did not participate in the panel discussion today, but her story is similar. She was running a retail scrapbooking store and decided that she just couldn't get the supply she needed from her wholesalers so she went out a built one. Peterson made the $10.5 million investment in January 2003 and exited the business in May 2005, selling to Advent International (according to the MountainWest Capital Network 2005 deal flow database.)
What a fascinating session. For those of us who are typical males and have no clue about these industries, this was a real education.
Jordan Clements of Peterson Partners led the discussion today. Jason Reading and Rick Durham, also from Peterson participated in the discussion. (Here for bios.)
Hal Halladay's wife, Gina Halladay, writes a blog about quilting, Quiltersbuzz. This stuff is no mystery to her.
Another friend, Sande Krieger, writes a blog, Pandemonium, about scrapbooking. She created the design shown above--be sure to visit her site.







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