|By PR Newswire||
|January 6, 2014 10:13 AM EST||
NEW YORK, Jan. 6, 2014 /PRNewswire/ -- Falconhead Capital, LLC, a private equity firm specializing in growing sports and consumer-focused businesses, today announced that it has sold its portfolio company NYDJ Apparel, LLC, one of the world's leading women's denim apparel brands, to Crestview Partners and Maybrook Capital Partners. Financial terms of the transaction were not disclosed.
Headquartered in Vernon, California, NYDJ offers a range of on-trend and figure-flattering products to sophisticated, style-conscious women. Under Falconhead's ownership, the company expanded considerably in both domestic and international markets, successfully entered the market for tops (shirts, blouses and other items) and began to sell merchandise through its website (www.nydj.com). Today, NYDJ is the top-selling women's denim brand in U.S. department stores.
David S. Moross, chairman and chief executive officer of Falconhead Capital, said: "We invested in NYDJ five years ago because we saw a compelling opportunity to build a leading apparel company for a clearly underserved market. Together with the NYDJ management team we assembled, we executed a range of growth initiatives such as expanding the company's innovative product line, deepening relationships with retail partners and diversifying distribution channels. I am delighted that we have been able to realize our vision for NYDJ and that the company now enjoys a strong leadership position in the women's apparel industry. We are proud of our investment in NYDJ and wish the company continued success."
The sale of NYDJ is Falconhead's third recent exit following the sale of Escort, Inc. in October 2013 and Competitor Group, Inc. in December 2012.
Morgan Stanley & Co. acted as financial advisor to NYDJ with respect to the transaction. Weil, Gotshal & Manges LLP acted as legal counsel to Falconhead and NYDJ.
About Falconhead Capital
Falconhead Capital, LLC, with $400 million of assets under management, is a private equity firm established in 1998 to provide investors with significant long-term capital appreciation by investing globally in consumer-focused businesses in the sport, leisure, lifestyle, and media categories. Falconhead's current portfolio includes GPS Industries, Javo Beverage Company, Mom365, and Rita's Water Ice Franchise Company. Past Falconhead investments include, among others, Escort, Competitor Group, National Powersport Auctions, Maritime Telecommunications Network, and ESPN Classic Europe. For more information, please visit www.falconheadcapital.com.
Mark Semer or Yemi Rose
Kekst and Company
SOURCE Falconhead Capital, LLC
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