Falconhead Capital, a private equity firm specialising in growing sports and consumer-focused businesses, has sold its portfolio company NYDJ Apparel to Crestview Partners and Maybrook Capital Partners.
Financial terms of the transaction have not been disclosed.
Headquartered in Vernon, California, NYDJ offers a range of products to women. Under Falconhead's ownership, the company expanded in both domestic and international markets, entered the market for tops (shirts, blouses and other items) and began to sell merchandise through its website. Today, NYDJ is the top-selling women's denim brand in US department stores.
David S Moross, chairman and chief executive officer of Falconhead Capital, says: "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 innovative product line, deepening relationships with retail partners and diversifying distribution channels. I am delighted that we have been able to realise 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."
The sale of NYDJ is Falconhead's third recent exit following the sale of Escort in October 2013 and Competitor Group in December 2012.
