P.W. Minor Sold to Out of State Investment Firm
Written by Dan Fischer on February 10, 2018
A Delaware based investment company, Tidewater + Associates, has announced is has acquired Batavia based shoe manufacturer P.W. Minor.
According to a statement issued by Tidewater on February 1 and made available locally today, the Newark, Delaware based firm wrote in a news release:
Tidewater + Associates has completed its investment in shoe manufacturer P.W. Minor. The current CEO, Peter Zeliff, will transition from CEO to board member. Hundley Elliotte, a member of Tidewater’s leadership team, will step in as managing CEO.
Founded in 1867, P.W. Minor is the country’s second oldest shoe manufacturer. It currently operates three key brands: P.W. Minor, Abram Boot Company and the Batavia Boot & Shoe Company. Its subsidiary, Minor Brothers Boot and Shoe Manufacturer develops and manufactures product for several of the country’s leading brands.
Three and a half years ago, P.W. Minor began a comprehensive process of overhauling its manufacturing capabilities with state of the art machinery and equipment to increase efficiency and reduce environmental impact. This change has enabled the company to compete on the global stage, without losing touch with its history of craftsmanship and its concern for the environment.
“As an organization, Tidewater + Associates charter is to ‘Grow Good.’ We believe there are significant opportunities to scale P.W. Minor’s social and environmental benefits through its current core brands and to embark on new brand developments. The organization’s legacy of craftsmanship and capabilities to deliver product sustainably can be leveraged to expand and grow the brand base. There is extraordinary potential to create comfortable and protective product while also being a champion for sustainability in the footwear world,” said Hundley Elliotte.
On handing the reigns to Tidewater + Associates, Peter Zeliff remarked, “We have made significant progress turning this business around, I now feel that it is the right time to step away from my day to day involvement and I’m extremely confident in Tidewater’s ability to guide this business to the next level of success.”
Tidewater + Associates makes majority investments in brands that have potential for positive social and environmental impact. We believe there is an under developed demand for good. Our mission is to meet this demand making a positive impact for people and minimizing impact on the planet.
Tidewater has offices in Delaware and California. By focusing on small cap brands and businesses, Tidewater applies its unique loyalty businesses model and 80+ years of operational expertise to accelerate and scale brands for growth.