The Private Equity team advised Varsity Brands on its definitive agreement to be acquired by Bain Capital Private Equity, a leading global private investment firm. Varsity Brands is being acquired from Charlesbank Capital Partners and funds managed and/or advised by Partners Group, which purchased the company in 2014. The transaction is subject to customary closing conditions, including requisite regulatory approvals, and is expected to close during the third quarter of 2018. Financial terms were not disclosed.
Varsity Brands elevates the student experience through its three businesses: BSN Sports, Varsity Spirit, and Herff Jones. Each business promotes personal, school and community pride through its customizable products and programs to elementary and middle schools, high schools and colleges/universities, as well as professional and collegiate sports teams and corporations. Through its 9,000 dedicated employees and independent representatives, Varsity Brands reaches its individual and institutional customers each year via catalog, telesales, e-commerce sites and direct sales channels.
For additional details on the acquisition, please read the press release.