Revolution Dancewear, a portfolio company of Audax Private Equity, has acquired International Dance Supplies, Ltd (IDS). The buy of IDS is the first add-on acquisition by Revolution since being acquired by Audax in July 2018 from Incline Equity Partners.
International Dance Supplies is a wholesaler and retailer of dancewear, dance shoes, dance costumes and accessories. The company, with approximately eighty employees, was founded in 1978 and is headquartered in Newton Abbot, UK (www.idsdance.com).
Revolution Dancewear is a designer and marketer of dance recital costumes, competition costumes, footwear, and dancewear. The company sources its products from suppliers in Asia and sells directly to more than 12,000 worldwide customers including dance studios, dance schools, public programs, and dancers. Company-owned brand names include Revolution, 10th House, and Plume. Revolution also operates Dance Direct, a Swindon, UK-based seller of dancewear to consumers. The company, led by CEO Joe Sclafani, was founded in 1996 and is headquartered in the Chicago suburb of Niles, IL (www.revolutiondance.com) (www.dancedirect.com).
The acquisition of IDS strengthens Revolution’s and Dance Direct’s positions in the costume segment of the market to teachers and dance studios and expands the company’s operating footprint across Europe. “IDS is a well-respected leader in the costume and dancewear space with an excellent reputation and leadership team,” said Mr. Sclafani. “The acquisition is a perfect example of our ongoing strategy to complement organic growth with strategic acquisitions of industry-leading companies.”
Audax Group makes control investments of $10 million to $100 million in middle market companies with transaction values of $25 million to $500 million. Sectors of interest include industrial manufacturing; energy; outsourced industrial services; consumer products; healthcare devices and services; non-asset based logistics; technology; aerospace & defense; business services; and direct marketing. The firm was founded in 1999 and has offices in Boston, New York and Menlo Park (www.audaxgroup.com).
© 2018 Private Equity Professional | October 31, 2018
