Blue Point Capital Partners and its portfolio company Next Level Apparel (NLA) acquired Germany-based Stedman GmbH, a designer, manufacturer and supplier of casual and sportswear blank apparel for the printwear, retail, brand specialty and other decorated apparel industries.
Terms were not disclosed.
Stedman, founded in 1953, has a distribution center in Ghent, Belgium and a market presence in over 40 countries, and serves as an accelerant to NLA’s expansion in Europe.
“The team at Stedman is excited to join ranks with Next Level Apparel, a strong partner and the perfect match, thanks to numerous synergistic qualities and values across both companies,” said Stedman General Manager Marcel Schweigert. “This partnership opens up new growth opportunities for everyone involved, and I am personally thrilled to be part of it, not only as a stakeholder but also as a shareholder.”
“The Stedman team has built a strong brand and a culture of excellence, and we’re excited to have them join Next Level Apparel,” said NLA CEO Randy Hales. “This partnership presents a great opportunity to expand and diversify both organizations’ footprints across Europe and the U.S.”
Jones Day served as Blue Point’s legal advisor for the transaction.
