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- Brookfield Asset Management (NYSE:BAM) has bought Trimco Group, Hong Kong-based maker of clothing labels, from Affinity Equity Partners, in a deal valued at ~$800M-$900M, Bloomberg reported, citing people familiar with the matter.
- The Canada-based alternative asset manager may expand Trimco, which has Nike (NKE) as one of Trimco's biggest customers, both organically and through acquisitions, the people told Bloomberg.
- Brookfield (BAM) outbid other private equity firms in an environment where higher borrowing costs, volatile markets, and rising risk of a recession is making it more difficult to value assets, all of which have constrained M&A activity. Those factors give the advantage to long-term investors who have the capital ready to deploy.
- Trimco, through its Clotex, A-Tex and Labelon units, makes clothing labels, trims, packaging, radio frequency ID tags, and store decorations, the company said on its website.
- In September, Brookfield Asset Management's (BAM) board approved a transaction to distribute a 25% stake in its asset management to existing BAM shareholders.
- SA contributor Daniel P. Varga explains why Brookfield's (BAM) long-term value investing pays off