Rockport is exploring financial alternatives, including a debt refinancing or an equity infusion that may lead to a sale, sources told Reuters.
The move comes after Crescent Capital Group LP, a major creditor of Rockport, acquired ownership of Rockport in recent weeks from Berkshire Partners LLC and added new capital into the company with other co-investors. according to the report. Sources said Houlihan Lokey is advising Rockport.
In August 2015, Berkshire Partners LLC, a Boston-based investment firm, together with New Balance Holding Inc., the investment arm of New Balance, completed the acquisition of The Rockport Company from the Adidas Group for $280 million. The Rockport Group includes the Aravon, Dunham and Rockport brands and the Rockport Cobb Hill Collection.
