CLEVELAND, Ohio-Apparel designer, manufacturer, and supplier Next Level Apparel announces the recapitalization of the brand through a partnership with Blue Point Capital Partners. Blue Point is a private equity firm with offices in Cleveland; Seattle; Charlotte, North Carolina; and Shanghai.
Founder and CEO of Next Level Joe Simsoly says, “Blue Point knows the apparel sector extremely well, and we’re excited for what’s to come in our partnership.”
He adds that the private equity firm holds a “strategic approach and resources” that will help Next Level in its effort to “provide quality, fashionable apparel” to its customers.
According to a Blue Point press release, 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.
Jeff Robich, a principal with Blue Point, says, “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 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,” says 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.”
Although this recapitalization is the first platform investment for Blue Point IV, Next Level isn’t Blue Point’s first investment in the apparel industry as a whole. In April 2016, the firm recapitalized J. America, a college and high school sportswear distributor.
For more information, visit www.bluepointcapital.com.