An affiliate of Versa Capital Management (Versa) has acquired Alex Apparel Group (Alex Apparel), a designer and wholesaler of social dresses and separates under the Alex Evenings, SL Fashions and Ignite Evenings brands, from Atlantic Street Capital.
The Alex Apparel Group brands are sold both online and in over 3,400 retail locations, including major department stores, specialty store chains and boutiques and pure-play ecommerce sites.
Colleen Kelly, Chief Executive Officer of Alex Apparel, says: “We are excited to partner with Versa to continue the strong trajectory of our business. Versa provides us with the tools and resources to advance our strategy underpinned by our longstanding commitment to providing women with high quality classic-social eveningwear that accentuates their beauty.”
“We are very pleased to invest alongside management in this promising market leader in a specialised, attractive product category,” says Greg Segall, CEO of Versa Capital. “Over the past several years, Colleen and her team have been repositioning Alex’s brands, improving product design, growing existing customer revenue and implementing best practices in sourcing and production. We look forward to working with the Alex Apparel team to capitalise on the numerous growth opportunities from increased direct engagement with end-customers, greater sales channel diversification, and potential strategic acquisitions.”
