Falconhead Capital has sold its portfolio company NYDJ Apparel, a women’s denim apparel brand, to Crestview Partners and Maybrook Capital Partners. The sale of NYDJ is Falconhead’s third recent exit following the sale of Escort in October 2013 and Competitor Group in December 2012.
NYDJ Apparel offers a range of on-trend and figure-flattering products to sophisticated, style-conscious women. The company is headquartered near Los Angeles in Vernon, CA (www.nydj.com).
During the course of ownership, Falconhead expanded NYDJ Apparel’s sales in both domestic and international markets, and successfully entered the market for tops (shirts, blouses and other items) and began to sell merchandise through its website.
“We invested in NYDJ five years ago because we saw a compelling opportunity to build a leading apparel company for a clearly underserved market. Together with the NYDJ management team we assembled, we executed a range of growth initiatives such as expanding the company’s product line, deepening relationships with retail partners and diversifying distribution channels,” said David Moross, chairman and chief executive officer of Falconhead Capital. “I am delighted that we have been able to realize our vision for NYDJ and that the company now enjoys a strong leadership position in the women’s apparel industry. We are proud of our investment in NYDJ and wish the company continued success.”
Falconhead Capital invests in consumer-oriented companies in the sport, leisure, lifestyle, and media categories that have revenues between $20 million and $150 million and EBITDA between $5 million and $30 million. Typical equity investments range from $10 million to $50 million per transaction and up to $100 million with co-investors. Falconhead Capital was founded in 1988 and is based in New York (www.falconheadcapital.com).
Morgan Stanley & Co. acted as financial advisor to NYDJ Apparel. Weil, Gotshal & Manges acted as legal counsel to Falconhead and NYDJ.