Argand Partners, LP, the New York-based middle-market private equity firm with offices in the San Francisco Bay Area and Miami, announced the acquisition of Capezio Ballet Makers, Inc.
The terms of the transaction were not disclosed.
Founded in 1887, Capezio is an iconic global brand in the dancewear sector. The company designs and manufactures technical footwear, apparel and accessories that support dancers and athletes to practice, compete and perform. Headquartered in Totowa, NJ, the company has been owned by the Terlizzi and Giacoio family for nearly 140 years, and under Argand’s ownership, several key family members, including the CEO, will remain invested alongside Argand.
Capezio has built an iconic brand heritage, reflecting an understanding of dance market trends and an appreciation of its core customers. The company is known for its “authenticity, quality, superior craftsmanship, and classic design of its products.” The company is a top player across its key business segments and serves a loyal customer base in North America, with a growing presence in Europe, Australia, Brazil, and Asia.
The Argand team will accelerate Capezio’s next growth phase while honoring the company’s brand heritage. Argand plans to build on the company’s success by, among other things, developing new product lines, establishing collaborations and licensing arrangements with strategic partners and continuing to build engagement with the global dance community while maintaining the family legacy and company culture.
Joyce Schnoedl, Argand Partner, commented, “We are delighted to invest in this iconic brand that has, since its inception, helped to instill a love of dance and appreciation of the art among dancers across the world. As a dancer myself and consumer of the Capezio brand for several decades, I have a deep personal connection and commitment to the company. We look forward to supporting Capezio’s next phase of growth.”
Michael Terlizzi, Capezio’s chief executive officer and a fourth-generation family member/owner of the company, commented, “Argand and its advisors have built a strong relationship with our management team over several months and we are delighted to formalize their partnership to build off of ~140 years of commitment to the dance community. The Argand team brings a complimentary skillset to our business, and our team is excited to be part of the Argand portfolio.”
In the transaction, Tom Nastos, long-time fashion executive and advisor to Argand, stated, “Capezio is a renowned brand with a rich history of excellence in dance and performance products. Under Argand’s stewardship, we are committed to upholding this legacy while introducing innovative products to expand Capezio’s offerings. Our goal is to blend tradition with innovation, ensuring that Capezio continues to be an iconic brand in the industry and respected by performers worldwide.” Jeremiah Wanzell of Growth Mindset Advisors introduced the deal to Argand and supported the deal team with due diligence and value-creation strategies for Capezio.
Meriwether Group acted as the sell-side advisor to Capezio. David Howitt, founder and CEO of Meriwether, said, “Meriwether Group is honored to have advised Capezio, a globally recognized brand with a deep legacy in the industry. We are confident that Argand is the ideal partner to support Capezio’s next chapter of growth, bringing strategic expertise and resources that will amplify its legacy while expanding its international reach. We believe Capezio will thrive under this new partnership.”
Alta Capital Partners served as financial advisor to Argand.
Image courtesy Capezio
