Capezio is altering fingers after greater than a century of household possession.
On Thursday, Argand Companions LP, a New York-based middle-market non-public fairness agency, revealed its acquisition of Ballet Makers Inc., the mum or dad firm of the venerable dance model.
Phrases of the transaction weren’t disclosed.
Based in 1887, Capezio designs and manufactures premium and extremely technical footwear, attire, and equipment that assist dancers and athletes of all ages. Headquartered in Totowa, N.J., the corporate has been owned by the Terlizzi household for almost 140 years.
Underneath the phrases of the deal, the household will retain an possession stake and plenty of key relations, together with chief govt officer Michael Terlizzi, will stay with the corporate.
“Capezio has constructed an unimaginable model heritage, reflecting a novel understanding of dance market tendencies, and a real appreciation of its core clients,” Argand stated. “Capezio is regarded for authenticity, high quality, superior craftsmanship and traditional design of its merchandise. The corporate has established itself as a high participant throughout its key enterprise segments and serves a loyal buyer base in North America, with a rising presence in Europe, Australia, Brazil and Asia.”
Underneath its new possession, Argand stated it can “speed up” Capezio’s progress whereas remaining true to its heritage. Plans name for growing new merchandise, creating collaborations and licensing offers with strategic companions and persevering with to construct deep connections inside the dance group. “We imagine this technique is not going to solely keep the longstanding household legacy and firm tradition, however can even modernize the corporate as a way to obtain long-term progress,” Argand stated.
“Argand and its advisers have constructed a robust relationship with our administration workforce over a number of months and we’re delighted to formalize their partnership to construct off of over 140 years of dedication to the dance group,” stated Terlizzi, who’s the fifth technology of the household to work within the enterprise. “The Argand workforce brings a complementary skillset to our enterprise and our workforce is happy to be a part of the Argand portfolio.”
Joyce Schnoedl, companion at Argand Companions, added: “We’re delighted to take a position on this iconic model that has, since its inception, helped to instill a love of dance and appreciation of the artwork amongst dancers the world over. As a dancer myself and client of the Capezio model for a number of a long time, I’ve a deep private connection and dedication to the corporate. We stay up for supporting Capezio’s subsequent part of progress.”
Tom Nastos, a longtime trend govt and adviser to Argand within the transaction, stated: “Capezio is a famend model with a wealthy historical past of excellence in dance and efficiency merchandise. Underneath Argand’s stewardship, we’re dedicated to upholding this legacy whereas introducing progressive merchandise to develop Capezio’s choices. Our objective is to mix custom with innovation, guaranteeing that Capezio continues to be an iconic model within the business and revered by performers worldwide.”
Jeremiah Wanzell of Progress Mindset Advisors launched the deal to Argand and the Meriwether Group acted because the sell-side adviser to Capezio.
Argand, which has workplaces in San Francisco and Miami along with New York, invests in firms which can be leaders in area of interest markets within the U.S. and globally. Its present portfolio contains Brintons, a woven carpet model; Oase, a water design techniques and expertise firm; Midwest Can, a producer of transportable gasoline containers; Cherry, a keyboard swap expertise agency for gaming and computing, and others. That is its first transfer into attire and footwear.
