Riata Capital Group closes USD750m sale of WSS to Foot Locker

Riata Capital Group (RCG), a Dallas-based private equity investment firm, has closed the sale of West Coast-based WSS, an Hispanic-focused specialty retailer of athletic, fashion, and work-related footwear and accessories, to Foot Locker for USD750 million.

Since completing the recapitalisation of WSS in late 2016, RCG actively contributed to the growth and expansion of WSS, including:
 
Doubling revenue and increasing EBITDA five-fold
Successfully entering the Texas market with 14 new stores to date
Driving customer loyalty through community engagement and digital initiatives
Forging strategic partnerships, including a strategic marketing partnership with the Dallas Cowboys Organization
 
RCG’s Co-Managing Partner Barron Fletcher, says: “We saw significant potential in the differentiated and community-oriented platform that WSS founder Eric Alon had created and scaled to meet the needs of families predominantly in underserved, high-growth Hispanic markets. WSS’s authentic, socially-conscious and community-oriented approach has resulted in rewarding outcomes for all stakeholders involved. We are proud to have worked with CEO Rick Mina and the entire WSS team to contribute to the Company’s considerable growth, value creation and strong value proposition for the families they serve.”
 
Jeff Fronterhouse, Co-Managing Partner of RCG, says: “WSS’s success highlights our experience in building market-relevant, high-growth platforms in the Consumer, Business Services, and Healthcare Services sectors. We deploy both buy & build and organic growth strategies to accelerate growth and WSS is a compelling example of how a well-executed organic growth strategy can dramatically increase a portfolio company’s financial performance and overall valuation.”

Author Profile