Private equity firm Bruckmann, Rosser, Sherrill & Co., L.L.C. continues to have an appetite for the sporting goods industry, making another deal last month to fund an MBO at Levtran Enterprises, which operates the Downtown Locker Room and DTLR businesses across doors from Baltimore to Atlanta. BRS, which acquired the Copelands Sports business more than two years ago, also holds the AMF Bowling and Anvil Knitwear businesses in its portfolio.
In a memo to employees, company president and CEO, Glenn Gaynor, said that BRS began consulting for Levtran in mid-October and, along with Levtran management, assumed ownership control of the business on October 20. Levtrans co-founders, Rick Levin and Tony Trantas, have left the business.
Gaynor said they chose to work with BRS because they believe Levtran had an excellent team in place and are headed in the right direction to continue with growth.
Levtran opened 10 new DTLR stores this year, including three in the Charlotte, N.C. market. For 2006, the company will see a westward expansion to Chicago, their first in the Midwest. Further growth sets Levtrans eyes on Houston, Texas for future new store openings in 2007.
Levtran reportedly posted 184% growth over the last five years while doubling its store count during that period.
