Argand Partners, a middle-market private equity firm based in New York and with offices in the San Francisco Bay Area and Miami, announced the acquisition of Capezio Ballet Makers. The terms of the deal were undisclosed.
Launched in 1887, Capezio is an iconic global brand in the dancewear sector. The company designs and manufactures premium, highly technical footwear, apparel, and accessories that support dancers and athletes of all ages in practicing, competing, and performing.
Based in Totowa, NJ, the company has been owned by the Terlizzi and Giacoio family for nearly 140 years. Under Argand’s ownership, a number of key family members, including the CEO, will remain invested alongside Argand.
Capezio created a brand heritage that reflects a unique understanding of dance market trends. And the company is renowned for authenticity, quality, superior craftsmanship, and the classic design of its products. The company has also established itself as a top player across its key business segments. It 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. And Argand plans to build upon the Company’s existing success by, among other things, developing innovative product lines, establishing collaborations and licensing arrangements with strategic partners, and continuing to build deep, authentic engagement with the global dance community.
The company believes this strategy will maintain the long-standing family legacy and Company culture while modernizing the company to achieve long-term growth.
Advisors: 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. Alta Capital Partners served as financial advisor to Argand.
KEY QUOTES:
“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.”
– Joyce Schnoedl, Argand Partner
“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.”
– Michael Terlizzi, Capezio’s Chief Executive Officer and a fourth-generation family member/owner of the company
“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.”
– Tom Nastos, long time fashion executive and advisor to Argand in the transaction
“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.”
– David Howitt, Founder & CEO of Meriwether
