ACON Investments Closes Approximately $700 Million Continuation Fund for New Era Cap, LLC

Published: Aug. 4, 2022 at 8:44 AM PDT|Up to date: 3 hours in the past

Company has Accomplished Document Growth and is Effectively Positioned for Continued Enlargement

WASHINGTON, Aug. 4, 2022 /PRNewswire/ — ACON Investments (“ACON”), a private equity financial commitment organization dependent in Washington D.C., declared today the closing of ACON Strategic Associates II, L.P. (“ASP II” or the “Continuation Fund”), a new single-asset continuation fund of about $700 million in link with the partial sale of its ACON Fairness Companions IV (“AEP IV”) portfolio expenditure in New Period Cap, LLC (“New Era Cap” or the “Business”) as very well as an increase in its current ownership stake in New Era Cap. With its 102-year background, the Business has proven by itself as the biggest international genuine headwear and lifestyle model in licensed sports activities. New Era Cap’s iconic brand serves as the formal headwear license lover for Key League Baseball, the Countrywide Soccer League and the Nationwide Basketball Association as well as 170+ other licensed partnerships all over a variety of headwear, clothing and accessory goods.

The Continuation Fund, managed by ACON, will be supported by equally new and continuing constrained companions of ACON. New buyers are led by Apollo, GCM Grosvenor, Hamilton Lane and Neuberger Berman, on behalf of their respective managed money. ACON Investments and ACON Fairness Associates IV keep on to retain important stakes in the Company.

New Period Cap designs, markets and distributes around 200 million parts of headwear and attire yearly and has skilled quite a few a long time of document organic and natural income growth, which is predicted to go on for the forseeable long run. ACON’s preliminary expense in January 2021 represented the Firm’s to start with and only institutional fairness capital. The Company carries on to put into practice a multi-pronged expansion method like even further growing its 800+ retail shop footprint throughout Asia, Mexico, Latin The us and Brazil and escalating its main life style model in attire as properly as its DTC system. New Era Cap will continue on to be led by Chris Koch, its fourth-generation CEO, whose wonderful grandfather, Ehrhardt Koch, established New Era Cap in 1920 in Buffalo, New York.

Ken Brotman, Founding Associate of ACON Investments, commented, “New Period Cap represents a distinctive and proprietary possibility in which ACON served as an early lover for the Company and the initially institutional fairness funds for this 102-12 months old legendary manufacturer. We are humbled to be the Firm’s trusted spouse and have good regard for New Era Cap’s long and rich heritage and what Chris Koch and the management staff have constructed. It has been just one of our best undertaking portfolio investments in ACON Fairness Partners IV, and we are fired up to proceed our partnership with Chris and the group to push more expansion and expansion about the world.”

Chris Koch, CEO of New Period Cap, stated, “We are thrilled to broaden our partnership with ACON and lean on their broad encounter in the lifestyle and purchaser solutions sector. Their proven monitor record of supporting firms by way of development and expansion created ACON the fantastic associate for our organization. This new capital will aid the acceleration of our intense advancement initiatives and allow us to think about possible North American and world-wide aquisitions that could be additive to our currently highly effective worldwide platform.”

As part of the transaction, Major League Baseball, the National Soccer League and the Countrywide Basketball Association will turn out to be minority house owners in New Era Cap. Jim Grundtisch, Chief Profits Officer of New Era Cap remarked, “Owning our three largest league companions aligned with us by way of a strategic equity posture further more solidifies our now solid partnerships. We are committed to continuing on the strong world wide advancement trajectory we have set for our brand name and for our critical world-wide partners effectively into the future.”

ACON was represented in the transaction by Evercore. Jefferies LLC also acted as a money advisor to ACON though Winston & Strawn served as ACON’s legal advisor. Truist Securities acted as special monetary advisor and Bryan Cave Leighton Paisner served as authorized advisor to New Era Cap.

Due to the fact 1920, New Period Cap has been hand-crafting the best headwear in the earth. Now, with attire and accessories traces, the brand name is a industry chief rooted in sports and an influencer of avenue and way of living lifestyle close to the world. With over 170+ licenses in its portfolio, New Era Cap is the manufacturer of alternative in the worlds of activity, style, music and amusement. The Enterprise is headquartered in Buffalo, N.Y., and its goods are sold in more than 120 countries. For far more information and facts on New Period Cap’s world-wide places of work and partnerships, remember to visit www.neweracap.com and social channels @neweracap.

ACON Investments, L.L.C. is a Washington, D.C.-dependent intercontinental personal equity financial investment company that manages private equity funds and particular reason partnerships that make investments in the United States, Latin The united states and Europe. With gurus in Washington, D.C., Dallas, Los Angeles, New York, Bogotá, Madrid, Mexico Town and São Paulo, ACON has managed $6.9 billion in belongings considering the fact that inception and has a 26-yr keep track of record.

ACON U.S. is a person of the most established organically various personal equity corporations with 70% of senior administration (ex founders) and 68% of all employees comprised of ladies and/or men and women from diverse backgrounds. ACON is a value investor with deep experience in the Client, Industrials and Organization Providers sectors and with a track history of accomplishment in conditions involving very first institutional funds for household-owned enterprises, manufacturer repositioning, field consolidation and company carveouts. In addition, ACON is concentrated on a new paradigm of Strategic Sustainability throughout its portfolio with a motivation to achieving sustainable outcomes though driving financial returns and profitability.

For more information, remember to take a look at www.aconinvestments.com

Get hold of

Meena Thever
ACON Investments, L.L.C.
[email protected] | 202.454.1100

Push Get hold of

Matt Davison, The Martin Group for New Era Cap, LLC
[email protected] | 716.604.7772

Amy Moritz, The Martin Group for New Period Cap, LLC
[email protected] | 716.863.2357

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