Audax Private Equity partnered with management to acquire Revolution Dancewear, a leading global supplier of dance recital costumes, competition costumes, footwear and dancewear. Terms of the transaction were not disclosed.
Geoffrey S. Rehnert, co-chief executive officer, Audax Group, said, “Revolution is a recognized leader in the dance costume and dancewear market. We look forward to supporting CEO Joe Sclafani and the entire Revolution team to continue growing the business organically and through acquisitions.”
Revolution Dancewear, headquartered in Niles, IL, is a leading, globally recognized, costume and apparel platform that is known for its quality designs, value proposition and recognized customer service to dance studios, dance schools, public programs and dancers worldwide. Revolution offers one of the broadest suites of products, including recital costumes, competition costumes, footwear, leotards and tights under its Revolution, 10th House and Plume brands.
Joe Sclafani, CEO of Revolution Dancewear, said, “We’re excited to partner with Audax as we continue to build the Revolution platform both organically and through acquisitions. Audax’ resources will help us accelerate our growth as we expand into new product lines and geographies and invest in technology tools to support our dance studio partners.”
Robert W. Baird acted as exclusive financial advisor and Cohen & Grigsby, PC, served as legal counsel to Revolution Dancewear and Incline Equity. Kirkland & Ellis LLP served as counsel to Audax.
