Garyline Receives Private Equity Investment, Completes Move to Florida

Toward the end of 2022, leaders at Garyline (asi/55990) shared publicly that the Counselor Top 40 supplier was planning to relocate from New York to Florida.

Now, the firm has fully completed the southbound migration into a new facility in Spring Hill, FL – an announcement executives made this week while also revealing that Garyline had partnered with a private equity backer.

The new headquarters, situated in Pasco County in the Greater Tampa area, empowers Garyline with improved production capabilities, logistical enhancements, and expanded space and customization capacity, executives said.

Richard Hellinger, Garyline (asi/55990)

CEO Richard Hellinger noted that 60 employees chose to relocate to Florida as part of the move while Garyline hired more than 500 local workers.

“I am thrilled for the future of Garyline as we settle into our new state-of-the-art 440,000 square-foot facility, providing us ample space for business expansion,” Hellinger said in a statement. “This transition was the culmination of two years of hard work and would not have been possible without the support of Mill Point, Pasco County Economic Development and a dedicated group of employees who all made the move with us.”

The “Mill Point” Hellinger mentions is Mill Point Capital LLC, a New York City-headquartered private equity firm focused on control investments in lower-middle market companies in North America across the industrial, business services and information technology sectors.

What executives described as an affiliate of Mill Point has made an investment in Garyline, providing institutional capital. Private equity investment in the promotional products industry has been on the rise.

“This transition (to Florida) is a great move for Garyline,” said Kim Korth, Mill Point executive partner and now also executive vice chairwoman of Garyline.

Korth continued: “The new location allows the company to expand their product offerings and the depth of their customization capabilities, and the partnership with Mill Point reinforces Garyline’s focus on becoming one of the most innovative and successful promotional products companies in the industry.”

The Pasco County Board of County Commissioners reportedly provided nearly $1 million in incentives, including $858,000 for job creation in the region, to help entice Garyline to make the move to the Sunshine State.

In business since 1963, Garyline describes itself as a vertically integrated manufacturer, custom printer and supplier of promotional products and specialty packaging. Based on reported 2023 North American promotional product revenue of $62.6 million, Garyline ranked 30^th on Counselor’s most recent list of the largest suppliers in the industry.