JACKSON, Wyo. — October 17, 2023 — Greybull Stewardship, a private investment firm of experienced operators dedicated to helping small, growing businesses realize their full potential, today announced its acquisition of RTCM Holdings (RTCM), a family of textile recycling and distribution companies. Financial terms were not disclosed. Additionally, Greybull has named Craig McAndrews as CEO of RTCM.
Through its operational expertise, Greybull plans to help RTCM scale by entering new markets and expand its automation capabilities across the business. RTCM has operated in the growing reclaimed textile space for over three decades and encompasses three distinct businesses including: Reclaimed Industrial Cleaning Clothes, Recycled Shoes & Clothing and World Wear Project. Together, these businesses bring new life to a range of textile products.
“We are pleased to announce our investment in RTCM, an industry leader in the highly fragmented recycled textiles market. Over its history, RTCM has helped keep millions of pounds of textiles out of landfills and we’re proud to support this environmental mission. RTCM’s rich heritage and expertise coupled with its loyal base of customers makes it a strong player in the space, and we’re looking forward to supporting the organization as it scales operations,” said Sasha Kovriga, partner at Greybull. “We’re also excited to welcome Craig McAndrews as President and CEO to the RTCM team. Craig is a seasoned executive who brings a wealth of B2B and direct to consumer experience to RTCM.”
“I am thrilled to step into the role of CEO and join a talented team that is dedicated to making the world a better place,” McAndrews said. “RTCM is strategically positioned to expand and strengthen its market presence. I look forward to collaborating with the Greybull team to harness the growth opportunities that are ahead.”
To date, Greybull has focused primarily on investing in companies within business services, franchising, education, and SaaS, though the firm also has a successful track record applying its strategy of adding operational expertise to small businesses across other sectors. The firm’s hands-on approach will help RTCM establish a dedicated sales network, increase procurement opportunities, and invest in automation.
Posted: October 17, 2023
Source: Greybull Stewardship