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Firm has Achieved File Progress and is Nicely Positioned for Continued Enlargement
WASHINGTON, Aug. 4, 2022 /PRNewswire/ — ACON Investments (“ACON”), a non-public fairness funding agency based mostly in Washington D.C., introduced as we speak the closing of ACON Strategic Companions II, L.P. (“ASP II” or the “Continuation Fund”), a brand new single-asset continuation fund of roughly $700 million in reference to the partial sale of its ACON Fairness Companions IV (“AEP IV”) portfolio funding in New Period Cap, LLC (“New Period Cap” or the “Firm”) in addition to a rise in its current possession stake in New Period Cap. With its 102-year historical past, the Firm has established itself as the biggest international genuine headwear and way of life model in licensed sports activities. New Period Cap’s iconic model serves because the official headwear license associate for Main League Baseball, the Nationwide Soccer League and the Nationwide Basketball Affiliation in addition to 170+ different licensed partnerships round a wide range of headwear, attire and accent merchandise.
The Continuation Fund, managed by ACON, will likely be supported by each new and persevering with restricted companions of ACON. New traders are led by Apollo, GCM Grosvenor, Hamilton Lane and Neuberger Berman, on behalf of their respective managed funds. ACON Investments and ACON Fairness Companions IV proceed to keep up vital stakes within the Firm.
New Period Cap designs, markets and distributes over 200 million items of headwear and attire yearly and has skilled a number of years of document natural income development, which is anticipated to proceed for the forseeable future. ACON’s preliminary funding in January 2021 represented the Firm’s first and solely institutional fairness capital. The Firm continues to implement a multi-pronged development technique together with additional increasing its 800+ retail retailer footprint all through Asia, Mexico, Latin America and Brazil and rising its core way of life model in attire in addition to its DTC platform. New Period Cap will proceed to be led by Chris Koch, its fourth-generation CEO, whose nice grandfather, Ehrhardt Koch, based New Period Cap in 1920 in Buffalo, New York.
Ken Brotman, Founding Associate of ACON Investments, commented, “New Period Cap represents a singular and proprietary alternative during which ACON served as an early associate for the Firm and the primary institutional fairness capital for this 102-year outdated iconic model. We’re humbled to be the Firm’s trusted associate and have nice respect for New Period Cap’s lengthy and wealthy historical past and what Chris Koch and the administration crew have constructed. It has been considered one of our greatest performing portfolio investments in ACON Fairness Companions IV, and we’re excited to proceed our partnership with Chris and the crew to drive additional development and enlargement across the globe.”
Chris Koch, CEO of New Period Cap, said, “We’re thrilled to develop our relationship with ACON and lean on their huge expertise within the way of life and shopper merchandise sector. Their confirmed monitor document of supporting corporations via development and enlargement made ACON the right associate for our enterprise. This new capital will facilitate the acceleration of our aggressive development initiatives and permit us to think about potential North American and international aquisitions which may be additive to our already highly effective international platform.”
As a part of the transaction, Main League Baseball, the Nationwide Soccer League and the Nationwide Basketball Affiliation will turn into minority homeowners in New Period Cap. Jim Grundtisch, Chief Income Officer of New Period Cap remarked, “Having our three largest league companions aligned with us via a strategic fairness place additional solidifies our already robust partnerships. We’re dedicated to persevering with on the sturdy international development trajectory now we have set for our model and for our key international companions nicely into the longer term.”
ACON was represented within the transaction by Evercore. Jefferies LLC additionally acted as a monetary advisor to ACON whereas Winston & Strawn served as ACON’s authorized advisor. Truist Securities acted as unique monetary advisor and Bryan Cave Leighton Paisner served as authorized advisor to New Period Cap.
About New Period Cap, LLC
Since 1920, New Period Cap has been hand-crafting the best headwear on the planet. Immediately, with attire and equipment traces, the model is a market chief rooted in sports activities and an influencer of avenue and way of life tradition across the globe. With over 170+ licenses in its portfolio, New Period Cap is the model of alternative within the worlds of sport, trend, music and leisure. The Firm is headquartered in Buffalo, N.Y., and its merchandise are bought in additional than 120 international locations. For extra info on New Period Cap’s international workplaces and partnerships, please go to www.neweracap.com and social channels @neweracap.
About ACON Investments
ACON Investments, L.L.C. is a Washington, D.C.-based worldwide personal fairness funding agency that manages personal fairness funds and particular objective partnerships that make investments in america, Latin America and Europe. With professionals in Washington, D.C., Dallas, Los Angeles, New York, Bogotá, Madrid, Mexico Metropolis and São Paulo, ACON has managed $6.9 billion in property since inception and has a 26-year monitor document.
ACON U.S. is likely one of the most established organically numerous personal fairness corporations with 70% of senior administration (ex founders) and 68% of all staff comprised of girls and/or people from numerous backgrounds. ACON is a price investor with deep experience within the Shopper, Industrials and Enterprise Companies sectors and with a monitor document of success in conditions involving first institutional capital for family-owned companies, model repositioning, trade consolidation and company carveouts. As well as, ACON is targeted on a brand new paradigm of Strategic Sustainability throughout its portfolio with a dedication to reaching sustainable outcomes whereas driving monetary returns and profitability.
For extra info, please go to www.aconinvestments.com
Contact
Meena Thever
ACON Investments, L.L.C.
[email protected] | 202.454.1100
Press Contact
Matt Davison, The Martin Group for New Period Cap, LLC
[email protected] | 716.604.7772
Amy Moritz, The Martin Group for New Period Cap, LLC
[email protected] | 716.863.2357
SOURCE ACON Investments, L.L.C.
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