Incline’s Revolution Deals for Dance Direct

Revolution Dancewear, maker of bodywear, footwear, and recital costumes based in Chicago, Illinois, acquired Dance Direct, the Melksham, UK-based online retailer of dancewear. The deal marks Revolution’s first add-on acquisition since Incline Equity Partners’ initial investment in 2010. Incline Equity is based in Pittsburgh, PA.

PRESS RELEASE:

PITTSBURGH, September 12, 2012—Incline Equity Partners announced today that its portfolio company, Revolution Dancewear (“Revolution”), has acquired Dance Direct, a Melksham-UK based online retailer of dancewear and dance apparel. This is the first add-on acquisition for Revolution since Incline Equity Partner’s initial investment in July 2010.

Dance Direct was founded in 1999 as a catalog business by two former professional dancers, Cedric and Joy Grosjean, and has since grown to become one of the largest e-commerce providers of dance apparel in the UK, France, and Germany. The company sells ballet clothing, dancewear, and footwear to dance instructors and consumers, offering several leading dancewear brands and over 11,000 product SKUs.

“The acquisition of Dance Direct is transformational for Revolution Dancewear,” said Jack Glover, partner of Incline Equity Partners and Revolution director. “There are numerous cross-sell opportunities available to the combined business including introducing Revolution’s dance recital costumes to the European market.”

“We are excited about the opportunity to expand Revolution into Europe by leveraging Dance Direct’s connection to dancers and dance instructors,” said Leon Rubinov, principal of Incline Equity Partners and Revolution director.

Chicago, IL-based Revolution Dancewear is a leading designer and marketer of dancewear, including bodywear, footwear, and recital costumes sold under the Revolution Dancewear brand. Revolution, which was founded in 1996, sells product through dance schools and studios across the U.S. and Canada.

“This is a highly synergistic acquisition and we look forward to serving new dancewear customers with the same level of exceptional customer service, convenience, and product quality that has become the hallmark of Revolution,” said Robb Lippitt, CEO of Revolution Dancewear. “The team at Incline Equity Partners has been instrumental in supporting our company’s growth initiatives with their superior mid-market management, operations, and transaction expertise.”

The Dance Direct transaction was led by Glover; Rubinov; Jeffrey Huss, senior associate; and David Hamerling, associate; along with Revolution’s management team. Glover and Rubinov represent Incline Equity Partners on the Company’s Board of Directors.

About Incline Equity Partners
Incline Equity Partners focuses on making private equity investments of $10 million to $25 million in support of leveraged buyouts, recapitalizations, and large minority financings of lower middle market growth companies with enterprise values between $25 million and $100 million across a variety of industry sectors including specialized light manufacturing, value-added distribution, and business and industrial services.