Spencer Supports, via its operating subsidiaries HB Heller and GSL Creations, is a Canadian leader in the value segment of the ladies and teens apparel sector by providing good quality products at attractive prices and by managing the private label programs for their various customers from design, style selection, manufacturing, logistics and weekly delivery to stores across Canada and the US. The Company has also developed specific expertise in the plus sized market and other specialty markets such as undergarments, swimwear, maternity, fast fashion, etc., and is less subject to fashion risk at the value end of the spectrum.
Spencer’s President and co-owner was faced with partner’s desire to sell and retire. Rather than sell the entire business, his preference was to bring in an experienced financial partner that would provide the support and guidance to continue to successfully grow the business, with a perspective of sustainable value creation over the long run.
Given the company’s expertise in managing turnkey private label programs for its various retail clients, the plan will be add the required resources to take on new customers in the Canadian market, to leverage their expertise with similar customer profiles in the US market, and to assess acquisition opportunities to broaden its range of products and customers.