Elite Sportswear, a portfolio company of The Riverside Company, has acquired Dreamlight Activewear.
Dreamlight Activewear specializes in designing and producing high-performance, high-end, customized gymnastics apparel. The company was founded in 1989 and was one of the first companies to introduce new textiles such as metallic fabrics and sheer mesh to the gymnastics industry. Dreamlight Activewear was founded in 1989 and is based in Virginia Beach, VA (www.dreamlightusa.com).
Elite Sportswear designs, manufactures and distributes gymnastics, cheerleading, and swimwear apparel and other related products. The company’s products are distributed in over 35 countries and the company specializes in low-run, high performance branded apparel that meets the exacting needs of top athletes. The company’s GK branded products have been consistently worn by Olympians, World Champions, and enthusiast amateurs for over 30 years. Elite Sportswear is based in Reading, PA (www.gkelite.com).
The Riverside Company acquired Elite Sportswear in March 2015. The buy of Dreamlight Activewear is the second add-on completed by Riverside for Elite. In May 2016 the company acquired Jade Swimwear (DBA Dolfin Swimwear) which is based near Reading in Mohnton, PA (www.dolfinswimwear.com).
“Dreamlight Activewear is a well-respected brand in the gymnastics market, with great designs and custom capabilities,” said Riverside Managing Partner Suzy Kriscunas. “This is a great addition to Elite’s suite of products.”
“We’re very excited about adding blue-chip products and customers to the Elite portfolio,” said Riverside Partner Karen Pajarillo. “Customers of both companies will enjoy broader product offerings and an excellent customer experience.”
Working with Ms. Kriscunas and Ms. Pajarillo on this transaction were Principal Brad Roberts, Associate Jon Gross, Associate Harrison Petts, Operating Partner Mike Thompson and Operating Executive Finance Allison Zabransky. Partner Anne Hayes worked on financing the transaction for the firm.
The Riverside Company is a global private equity firm focused on investing in and acquiring growing businesses valued at up to $400 million. Since its founding in 1988, Riverside has invested in more than 470 transactions. The firm’s international portfolio includes more than 80 companies. The firm is headquartered in New York with 16 additional US and international offices (www.riversidecompany.com).
© 2017 Private Equity Professional | July 18, 2017