Editorial & Advertiser disclosure

Global Banking & Finance Review® is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

Home > Top Stories > TorQuest Partners Completes Sale of Spinrite

TorQuest Partners Completes Sale of Spinrite

Published by Gbaf News

Posted on July 4, 2018

4 min read

Last updated: January 21, 2026

Graph showing record property deals in Portugal, highlighting affordable housing crisis - Global Banking & Finance Review — This image illustrates the surge in property transactions in Portugal, with a record high of 9.05 billion euros in Q3, emphasizing the worsening shortage of affordable homes.

TorQuest Partners announced today that the firm and its co-investors have completed the sale of their majority interest in Spinrite LP (“Spinrite” or the “Company”) to Comvest Partners. Terms of the transaction were not disclosed.

Daniel Sonshine, Partner at TorQuest said, “Spinrite’s success over the past two and a half years is the result of the Company’s continuous drive to build on its leading market position through new product introductions and a highly focused direct-to-consumer digital marketing strategy. Spinrite has been an outstanding investment for TorQuest and our partners, and we are grateful to the Company’s management team for its dedication and excellent work over our hold period.”

Eric Berke, Managing Partner at TorQuest, added, “The success of our investment in Spinrite exemplifies TorQuest’s strategy of partnering with strong management teams and investing in their businesses to achieve a shared vision for growth. We wish Ryan and his team continued success.”

Ryan Newell, CEO of Spinrite said, “TorQuest has been an ideal partner for us. Their commitment to investing in our business and our people has provided Spinrite with a solid platform for continued growth and success. The management team remains highly committed to the business and our customers, and we will remain meaningful shareholders as we forge our new partnership with Comvest.”

TorQuest and its co-investors acquired Spinrite in October 2015. Throughout its ownership, TorQuest supported management as they invested in Spinrite’s people and technology to develop a multi-pronged digital strategy, in addition to continued product innovation that further improved the Company’s leading market position within the craft space.

Headquartered in Listowel, Ontario, Spinrite is a leading craft company and provider of craft knitting yarns. Established in 1952, Spinrite is well known for its Patons, Bernat, Lily, Peaches & Creme, Caron and Phentex brands, which are sold through mass merchants, craft stores, and independent specialty stores. Spinrite also supports its market with patterns that provide customers with creative ideas for knitted products. Spinrite has more than 500 employees across its fully integrated manufacturing and distribution centers in Listowel, Ontario and Washington, North Carolina. For more information about Spinrite, visit www.yarnspirations.com.

TorQuest Partners announced today that the firm and its co-investors have completed the sale of their majority interest in Spinrite LP (“Spinrite” or the “Company”) to Comvest Partners. Terms of the transaction were not disclosed.

Daniel Sonshine, Partner at TorQuest said, “Spinrite’s success over the past two and a half years is the result of the Company’s continuous drive to build on its leading market position through new product introductions and a highly focused direct-to-consumer digital marketing strategy. Spinrite has been an outstanding investment for TorQuest and our partners, and we are grateful to the Company’s management team for its dedication and excellent work over our hold period.”

Eric Berke, Managing Partner at TorQuest, added, “The success of our investment in Spinrite exemplifies TorQuest’s strategy of partnering with strong management teams and investing in their businesses to achieve a shared vision for growth. We wish Ryan and his team continued success.”

Ryan Newell, CEO of Spinrite said, “TorQuest has been an ideal partner for us. Their commitment to investing in our business and our people has provided Spinrite with a solid platform for continued growth and success. The management team remains highly committed to the business and our customers, and we will remain meaningful shareholders as we forge our new partnership with Comvest.”

TorQuest and its co-investors acquired Spinrite in October 2015. Throughout its ownership, TorQuest supported management as they invested in Spinrite’s people and technology to develop a multi-pronged digital strategy, in addition to continued product innovation that further improved the Company’s leading market position within the craft space.

Headquartered in Listowel, Ontario, Spinrite is a leading craft company and provider of craft knitting yarns. Established in 1952, Spinrite is well known for its Patons, Bernat, Lily, Peaches & Creme, Caron and Phentex brands, which are sold through mass merchants, craft stores, and independent specialty stores. Spinrite also supports its market with patterns that provide customers with creative ideas for knitted products. Spinrite has more than 500 employees across its fully integrated manufacturing and distribution centers in Listowel, Ontario and Washington, North Carolina. For more information about Spinrite, visit www.yarnspirations.com.