Capezio changes hands after more than a century of family property.
On Thursday, Argand Partners LP, an intermediate capital-investment company based in New York, revealed that acquisition of Ballet Makers Inc., the mother company of the venerable dance brand.
The terms of the transaction have not been disclosed.
Founded in 1887, Capezio Design and manufactures superior and high -technical quality shoes, clothing and accessories that support dancers and athletes of all ages. Based in Totowa, New Jersey, the company has belonged to the Terlizzi family for almost 140 years.
Under the terms of the agreement, the family will maintain a participation and a number of key members of the family, including the chief executive, Michael Terlizzi, will remain in the company.
“Capezio has built an incredible brand legacy, reflecting a unique understanding of dance market trends and a real appreciation of its main customers,” said Argand. “Capezio is considered to be authenticity, quality, superior crafts and classic design of its products. The company has established itself as a leading player in its main activity segments and serves a faithful clientele in North America, with an increasing presence in Europe, Australia, Brazil and Asia. ”
Under her new property, Argand said that she “accelerates” Capezio's growth while remaining faithful to her heritage. Plans call to develop new products, create collaborations and license agreements with strategic partners and continue to establish deep connections within the dance community. “We believe that this strategy will not only maintain the family inheritance and the culture of the long -standing company, but will also modernize the company in order to achieve long -term growth,” said Argand.
“Argand and his advisers have established a solid relationship with our management team over several months and we are delighted to formalize their partnership to build over 140 years of commitment to the dance community,” said Terlizzi, who is the fifth generation of the family to work in the company. “The Argand team provides additional skills to our company and our team is delighted to be part of the Argand portfolio.”
Joyce Schnoedl, associated with Argand Partners, added: “We are delighted to invest in this emblematic brand which, since its creation, has helped to instill a love of dance and the appreciation of art among dancers around the world. As a dancer myself and consumer of the Capézio brand for several decades, I have a deep personal connection and a commitment.
Tom Nastos, A Longtime Fashion Executive and Advise To Argand in the Transaction, Said: “Capezio is a renowned brand with a rich history of excellence in dance and performance. Under argand's stewardship, we are committed to upholding this legacy while introductory innovative product to expand Capezio's Offerings.
Jeremiah Wanzell of Growth Mindset Advisors introduced the agreement with the Argand and the Meriwether group acted as an advisor to the sale of Capezio.
Argand, who has offices in San Francisco and Miami in addition to New York, is investing in companies that are leaders in niche markets in the United States and worldwide. Its current wallet includes Briton, a woven carpet brand; Oase, a company of water and technology design systems; Midwest Can, a manufacturer of portable fuel containers; Cherry, a keyboard change technology company for games and IT, and others. This is his first movement in clothing and shoes.
