Blue Point Capital Partners has acquired and recapitalized Gardena, CA-based clothing company Next Level Apparel Inc. Terms of the deal were not disclosed.
Next Level was founded in 2003. Its products are sold blank to promotional product, ad specialty and other decorated apparel markets. Core products include T-shirt, tank tops, hoodies and jackets.
“Next Level is an established platform operating in the rapidly growing fashion basics category with significant avenues for future growth,” said Blue Point principal Jeff Robich. “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.”
Blue Point has been an active buyer of companies in the apparel space having acquired Top of the World LLC in 2017, a headwear company in Oklahoma, and Michigan apparel designer and distributor J. America Inc. in 2016.
“Blue Point knows the apparel sector extremely well, and we are excited for what is to come in our partnership,” said Joe Simsoly, founder and CEO of Next Level. “Blue Point’s strategic approach and resources will help further develop and diversify our ability to provide quality, fashionable apparel to our customers.”
The deal marks the first investment in Blue Point IV, the firm’s fourth middle market buyout fund that closed at its hard cap of $700 million earlier this year.
In addition to Cleveland, Blue Point has offices in Seattle, WA; Charlotte, NC and Shanghai, China. The firm typically invests in businesses generating between $20 million and $300 million in annual revenue.
