[DENVER AND AIKEN, S.C.— OCTOBER 31, 2019] — The management team of the Riegel Consumer Products Division of Mount Vernon Mills Inc. (“MVM”) has partnered with Lion Equity Partners to carve out the business from MVM and stand alone as a new entity, Riegel Linen LLC (“Riegel”).

Riegel Linen is a leading importer, manufacturer, and supplier of tablecloths, napkins, sheets, towels, bedding and other linens for hotels, restaurants, linen suppliers, retailers, and healthcare customers. Riegel is headquartered in Aiken, SC, and operates a manufacturing facility in McCormick, SC and a network of salespeople and warehouses strategically located across the United States.

Bill Josey, president of the Riegel division and a 35-year veteran at MVM, was named CEO of Riegel as part of the transition.

“Riegel is a premier brand that has been associated with quality textiles since the mid-1800s,” Josey said. “This partnership will enable us to take advantage of growth opportunities in the markets we serve as well as explore new markets and product offerings.

“Mount Vernon Mills has been a great owner and remains a great American textile company,” he added. “We are excited about this entrepreneurial opportunity, which will make for a more robust manufacturing, sourcing and distribution solution for our customers.”

Riegel VP of Sales and Marketing Chris Gowdy said, “Our customers will continue to enjoy working with the same great people on our team and getting the quality products, innovations and first-class service that have made Riegel the industry leader.”

Financial terms of the transaction were not disclosed.