Juggernaut Capital Partners has acquired the assets of Mitchell & Ness Nostalgia Co. from Adidas Group.
Mitchell & Ness is a seller of licensed retro athletic apparel and headwear. The company holds licenses with Major League Baseball, the National Basketball Association, the National Football League, the National Hockey League, Major League Soccer, and the NCAA. The company is based in Philadelphia (www.mitchellandness.com).
With the closing of this acquisition, Juggernaut has named Kevin Wulff as CEO of Mitchell & Ness. Mr. Wulff is a sporting goods industry veteran having held senior leadership positions with Nike, ASICS, and the Women’s Tennis Association. Mr. Wulff is also a co-investor in this transaction alongside Juggernaut.
“Juggernaut Capital has a proven track record of identifying successful consumer brands. I am excited about the support that they have provided on this project and the resources they will provide in the future,” said Mr. Wulff. “The momentum of Mitchell & Ness is evident by the die-hard fan and league support, which will allow for future growth domestically as well as internationally. I could not be more excited to continue my career in a category that has been a lifelong passion of mine and I look forward to working with the team.”
Just last month, Juggernaut – an investor in consumer and business services companies – held a final close for Juggernaut Capital Partners III, LP, with $380 million of capital commitments. Juggernaut’s target for the new fund was $350 million. Juggernaut invests in middle market companies with enterprise values from $50 million to $200 million. The firm will take positions both as a controlling shareholder and as an influential minority investor. Juggernaut was founded in 2009 by John Shulman and is headquartered in Chevy Chase, MD (www.juggernautcap.com).
© 2016 Private Equity Professional • 7-12-16