Backcast Partners' Strategic Support in Capezio Acquisition By Argand Partners

On April 24, 2025, Backcast Partners made headlines with their announcement regarding a significant investment aimed at enhancing the growth potential of Ballet Makers Inc., better known as Capezio. This renowned and historic brand, recognized for its dance shoes and apparel, has been supported by Backcast through the structuring and provision of senior secured debt and preferred equity, facilitating Capezio’s acquisition by Argand Partners LP—a prominent private equity firm focused on the middle market.

A Historic Brand in the Dance Industry
Capezio, founded in 1887 and based in Totowa, New Jersey, has established itself as an iconic name in the dance community. For nearly 140 years, this family-run business has been synonymous with quality in dance footwear and related products, which range from shoes to various types of bodywear, legwear, and accessories tailored for dancers of all ages and skill levels. Under the continued ownership of the Terlizzi and Giacoio families, Capezio aims for a future marked by substantial growth and innovation while retaining its legacy in the dance sector. CEO Michael Terlizzi, along with other key family members, will play pivotal roles in driving the company's future initiatives.

Paving the Path for Growth
The partnership between Backcast and Capezio is reflective of a deep understanding of the nuanced dynamics of the dance industry. CEO Michael Terlizzi expressed his gratitude towards Backcast for their invaluable support, emphasizing their comprehension of the brand's market relevance and future potential. The partnership is set to facilitate Capezio in leveraging financing to further its ambitious growth strategies, which are poised to harness global opportunities within the ever-evolving dance landscape.

Joyce Schnoedl, a partner at Argand, echoed the sentiment, acknowledging Backcast's role in navigating complex transactions while offering flexible, solution-oriented capital. The value-added partnership is expected to yield fruitful outcomes, allowing Capezio to innovate and expand while maintaining its esteemed position. Mark Gudis, Managing Partner at Backcast, highlighted the investment as a testament to their confidence in Capezio’s brand strength, its top-tier management team, and Argand’s competency as a partner in this endeavor.

The Future of Backcast Partners
Established in 2016, Backcast Partners operates within the realm of credit-focused private investment funds, dedicating resources to both private equity-backed and independently owned middle-market companies. With assets nearing $1.3 billion, the firm is well-equipped to support traditional middle-market enterprises, particularly within the EBITDA range of $7.5 million to $50 million. Their investment capability ranges between $20 million and $150 million per transaction, positioning them as a flexible capital provider in the investment landscape.

As the dance industry continues to evolve, Backcast Partners, with its extensive background and resources, will play a crucial role in shaping the future of iconic brands like Capezio. The strategic alliance with Argand Partners underscores a commitment to fostering heritage brands while setting them on a growth trajectory that resonates with contemporary demands in the dance apparel market.

For companies seeking insightful investment opportunities, Backcast is fostering an environment ripe for collaboration, innovation, and expansion, thereby contributing significantly to the middle-market dynamics and restoring vibrancy in historical enterprises.

In summary, Backcast Partners' involvement in Capezio's acquisition marks a pivotal chapter not only for the historic dance manufacturer but also for the wider middle-market sector. The anticipated growth and strategic initiatives laid out in this partnership are expected to enhance the brand's market presence while adhering to the values that Capezio has upheld for over a century.