Blue Point Capital Partners has recapitalized Gardena, California-based Next Level Apparel, a maker of casual apparel for the promotional product, ad specialty and other decorated apparel markets. No financial terms were disclosed.
CLEVELAND, OH (August 14, 2018) – Blue Point Capital Partners, in partnership with management, announced today the recapitalization of Next Level Apparel, Inc. (www.nextlevelapparel.com), a designer and supplier of quality, casual apparel to the promotional product, ad specialty and other decorated apparel markets.
Jeff Robich, a Principal with Blue Point, said, “Next Level is an established platform operating in the rapidly growing fashion basics category with significant avenues for future growth. 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.”
Next Level was founded in 2003 and is headquartered in Gardena, California. The Company’s products are sold blank and marketed under the Next Level brand. Next Level differentiates itself by creating innovative, attractive fabric blends to complement the Company’s core product offerings, such as its leading category of tops – consisting of tees, tanks, hoodies and jackets.
“Blue Point knows the apparel sector extremely well and we are excited for what is to come in our partnership,” said Joe Simsoly, Founder and CEO of Next Level. “Blue Point’s strategic approach and resources will help further develop and diversify our ability to provide quality, fashionable apparel to our customers.”
“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.”
The acquisition of Next Level marks the first platform investment for Blue Point IV, the firm’s fourth middle market buyout fund. Blue Point IV maintains the same strategic initiatives and focus as its predecessor fund, Blue Point III. The firm continues to identify opportunities, such as Next Level, where applying its core value-added tools such as Asian Strategies, Data & Digital Strategies and M&A can strongly impact a company’s growth.
Blue Point Capital Partners (www.bluepointcapital.com) is a private equity firm managing over $1.5 billion in committed capital. With offices in Cleveland, Charlotte, Seattle and Shanghai, Blue Point’s geographical footprint allows it to establish relationships with local and regional entrepreneurs and advisors, while providing the resources of a global organization. The Blue Point partner group has a 19-year track record of partnering with companies in the lower middle-market to facilitate growth and transformative change. It is one of only a few middle market private equity firms with a presence in both the United States and China, which provides a distinct advantage for its portfolio companies. Blue Point typically invests in businesses that generate between $20 million and $300 million in revenue.