CLEVELAND–(BUSINESS WIRE)–Blue Point Capital Partners and its portfolio company Next Level Apparel (NLA) are pleased to announce the acquisition of Germany-based Stedman GmbH, a designer, manufacturer and supplier of premium casual and sportswear blank apparel for the printwear industry.
Since 1953, Stedman® has stood for top quality and ethically produced clothing across men’s, women’s and youth apparel — all of which are complementary with NLA’s product collections and reputation for superior quality, fit and style. With a distribution center in Ghent, Belgium — and a market presence in over 40 countries — Stedman’s international foundation will serve as a critical accelerant to NLA’s strategic geographic expansion in Europe.
“The team at Stedman is excited to join ranks with Next Level Apparel, a strong partner and the perfect match, thanks to numerous synergistic qualities and values across both companies,” said Stedman General Manager Marcel Schweigert. “This partnership opens up new growth opportunities for everyone involved, and I am personally thrilled to be part of it, not only as a stakeholder but also as a shareholder.”
Founded in 2003, NLA is a leading designer, manufacturer and supplier of premium blank apparel for the printwear, retail, brand specialty and other decorated apparel markets.
“The Stedman team has built a strong brand and a culture of excellence, and we’re excited to have them join Next Level Apparel,” said NLA CEO Randy Hales. “This partnership presents a great opportunity to expand and diversify both organizations’ footprints across Europe and the U.S.”
Blue Point Principal Evan Cottington said, “Not only is this an exciting milestone for all involved, it also further validates our belief in M&A and geographic expansion as key drivers for the business’s strategic growth.”
Jones Day served as Blue Point’s legal advisor for the transaction.
The Stedman® brand stands for reliable product quality, excellent value for money and ethically responsible manufacturing conditions. Based in Aachen, Germany, and with a distribution center in Ghent, Belgium, Stedman provides top-quality blank apparel in 40 countries. With Stedman, you choose experience and customer service, but more importantly, you choose the core values of quality, ethics, eco-friendliness and responsible manufacturing.
Next Level Apparel is a design innovator, industry leader and top supplier of premium blank apparel. NLA put its stamp on the map as a blank apparel pioneer in the printwear industry by answering the call to its customers’ need for a Sublimation T-shirt. The company’s passion for exceptional craftsmanship catalyzed the development of more styles and ultimately formed the Next Level Apparel® brand – putting the customer first, always, and in all ways. The company’s tagline, “Ready to Inspire,” ™ is a commitment to finding new ways to make it easier for customers to keep their shelves fully stocked with thoughtfully designed premium blank apparel that offers exceptional printability.
Blue Point Capital Partners 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 perspectives and resources of a global organization. The Firm focuses on opportunities where it can leverage its unique global supply chain, data & digital and human capital capabilities as well as its collective experience, extensive operating resource network and focused add-on acquisition efforts. Blue Point typically invests in businesses that generate between $30 million and $300 million in revenue.
Note: Certain statements about Blue Point Capital Partners made by portfolio company executives herein are intended to illustrate Blue Point Capital Partners’ business relationship with such persons, including with respect to Blue Point Capital Partners’ facilities as a business partner, rather than Blue Point Capital Partners’ capabilities or expertise with respect to investment advisory services. Portfolio company executives were not compensated in connection with their participation, although they generally receive compensation and investment opportunities in connection with their portfolio company roles, and in certain cases are also owners of portfolio company securities and/or investors in Blue Point Capital Partners-sponsored vehicles.
Contacts
Blue Point Capital Partners
Megan Kneipp
Managing Director, Business Development mkneipp@bluepointcapital.com
Evan Cottington
Principal ecottington@bluepointcapital.com
MiddleM Creative (Media Inquiries)
Jan Morris
Vice President jan@middlemcreative.com
