Prospect Partners has acquired Sportdecals, a designer and embellisher of customized uniforms, in partnership with the management team of the company. The company, the sixth platform of Prospect Partners’ third fund, will operate under the name of Sportdecals Sport and Spirit Products. With the closing of this transaction, Prospect Partners and Sportdecals are seeking acquisitions of other athletic team spirit wear outfitters and apparel embellishers.
“We are very excited to back Chris Gagnon and his experienced management team,” said Erik Maurer, a Principal at Prospect Partners. “Sportdecals, a growing business in a niche market, has achieved its premier reputation by offering quality products, fast fulfillment and delivery, and competitive pricing. We believe there is significant opportunity for the company to continue to expand its offering, both to its current customer base as well as to new distribution channels and buyer segments.”
Sportdecals is a designer and embellisher of customized uniforms, spirit wear, and decals for the K-12 school sports market. The company provides in-house design, screen printing, and embroidery services for sports apparel products such as team uniforms, practice jerseys, performance wear, and spirit wear. Its customers include schools, athletic departments, club sports teams, coaches, booster clubs, municipalities, and corporations. Sportdecals is led by Chris Gagnon, President, who has been with the company since 2000. The company was founded in 1972 and is based in Spring Grove, IL (www.sportdecals.com).
“Prospect Partners has immense experience investing in niche, entrepreneurial companies like ours,” said Mr. Gagnon. “Throughout the recapitalization process, Prospect Partners delivered what they said they would, remaining focused on what mattered to us. They worked quickly and thoughtfully with us to solve any issue that arose, and leveraged their relationships to close on time. We look forward to getting started on growing Sportdecals together.”
Prospect Partners focuses exclusively on management-led leveraged recapitalizations and acquisitions of niche market leaders with revenues between $10 million and $75 million. Since 1998, Prospect Partners has invested nationwide in more than 100 companies in a range of niche manufacturing, distribution, and specialty service markets. The firm has $470 million of capital under management and is based in Chicago (www.prospect-partners.com).
© 2013 PEPD • Private Equity’s Leading News Magazine • 7-30-13
