Tilley Endurables has been sold to a subsidiary of U.K.-based private equity firm known for its investments in distressed companies. Tilley was founded in 1980 by Alex Tilley and went on to become both a broadly based travel-wear firm and something of a Canadian cult for its “Tilley hat.” Mr. Tilley, 77, had said earlier this year he intended to sell the firm. Financial and other details of the sale to Re:Capital, the Canadian arm of Hilco Capital, were not disclosed.
