Goodwin Procter attorneys recently advised private equity firm Charlesbank Capital Partners on its completed acquisition of Varsity Brands, a portfolio of brands that promote student participation in academics and athletics. The transaction will help ensure that Varsity Brands has the capital structure, resources, and financial flexibility to build its presence while delivering on its mission to elevate school pride and student achievement.
Based in in Boston, Mass. and New York, N.Y, Charlesbank Capital Partners is a middle-market private equity investment firm with approximately $3 billion in assets. The firm focuses on management-led buyouts and growth capital financings, typically investing $50 million to $150 million per transaction in companies with enterprise values of $100 million to $750 million. Charlesbank seeks to partner with strong management teams to build companies with sustainable competitive advantages and excellent prospects for growth.
Varsity Brands’ three businesses, Herff Jones, Varsity Spirit and BSN SPORTS, have a combined sales of $1.2 billion, and include more than 1,000 sales professionals dedicated to providing products and services to the school and institutional markets. The three businesses serve schools as well as sports teams and other organizations, offering customizable products and programs, including yearbooks and graduation products, cheerleading camps and competitions, and sports apparel and equipment.
The Goodwin deal team advising Charlesbank was led by partners Jim Curley (corporate/M&A), Laura Rupenian (debt) and William Whitledge (tax).
More information about this transaction is available in Charlesbank’s press release.