Blue Point Capital Partners has acquired Next Level Apparel, a designer and supplier of casual apparel to the promotional product, advertising specialty, and decorated apparel markets.
Next Level’s products – which include tees, tanks, hoodies and jackets – are sold blank and marketed under the Next Level brand. According to Blue Point, Next Level differentiates itself from competitors through the use of 14 custom fabric blends that result in unique combinations of softness and stretch. The company was founded in 2003 by CEO Joe Simsoly and is headquartered near Los Angeles in Gardena, CA (www.nextlevelapparel.com).“Blue Point knows the apparel sector extremely well and we are excited for what is to come in our partnership,” said Mr. Simsoly. “Blue Point’s strategic approach and resources will help further develop and diversify our ability to provide quality, fashionable apparel to our customers.” In April 2018, Blue Point acquired Montreal-based Spector & Co., a supplier of products to the promotional products industry.
“Next Level is an excellent opportunity to partner with an experienced management team and acquire a leader in the fashion basics segment of the promotional products industry,” said Chip Chaikin, a Partner with Blue Point. “The company serves a diverse and fragmented market, and with Blue Point’s extensive toolkit of operational, M&A, e-commerce and digital marketing expertise, we certainly look forward to a highly rewarding partnership.”
Blue Point is a lower middle market private equity firm that invests in manufacturing, distribution and service businesses that have from $20 million to $300 million in revenue and EBITDA greater than $5 million. The firm has over $800 million in committed capital and offices in Cleveland, Charlotte, Seattle, and Shanghai (www.bluepointcapital.com).
“Next Level is an established platform operating in the rapidly growing fashion basics category with significant avenues for future growth,” said Jeff Robich, a Principal with Blue Point. “The company’s leading position, strong relationships and brand reputation with the major distributors and decorators make this a great opportunity for Blue Point to be a value-added partner and help facilitate the company’s continued growth.”
The acquisition of Next Level marks the first platform investment for Blue Point IV, the firm’s fourth middle market buyout fund, which closed in January 2018 at its hard cap of $700 million.
© 2018 Private Equity Professional | August 14, 2018