#United States #New York #Argand Partners #Capezio #Ballet Makers

Argand Partners Completes Acquisition of Capezio

In a significant move within the middle-market private equity landscape, Argand Partners, LP has announced its acquisition of Ballet Makers Inc., widely known as Capezio. This acquisition marks a pivotal step for Argand, a New York-based firm with a strong presence in the San Francisco Bay Area and Miami, as it seeks to expand its portfolio with a heritage-rich brand in the dancewear sector.

Founded in 1887, Capezio has built a global reputation as an iconic brand in dancewear, designing and manufacturing premium footwear, apparel, and accessories tailored for dancers and athletes of all ages. Headquartered in Totowa, New Jersey, the company stems from nearly 140 years of family ownership by the Terlizzi and Giacoio families. Notably, during this transition, key family members, including the current Chief Executive Officer, will maintain their investment alongside Argand, safeguarding the company’s legacy while embracing new opportunities for growth.

Capezio’s steadfast authenticity, superior craftsmanship, and classic designs have placed it at the forefront of the dance market, appealing to a dedicated clientele in North America and beyond. With expanding markets in Europe, Australia, Brazil, and Asia, Capezio is poised for accelerated growth. Argand Partners aims to leverage this potential by honoring the brand’s heritage while introducing innovative product lines and fostering collaborations with strategic partners.

Joyce Schnoedl, a Partner at Argand, expressed her enthusiasm about the acquisition, stating, “We are delighted to invest in this iconic brand that has, since its inception, helped to instill a love of dance and appreciation of the art among dancers across the world.” Schnoedl underscored her personal connection to Capezio, having been a consumer of the brand for many years, which adds an emotional layer to her commitment to the company.

Michael Terlizzi, Capezio’s CEO and a member of the founding family, also shared his optimism about the new partnership. He remarked, “Argand and its advisors have built a strong relationship with our management team over several months, and we are delighted to formalize their partnership.” Terlizzi emphasized that Argand’s expertise will allow Capezio to enhance its long-standing commitment to the dance community and explore innovative paths for development.

Another key figure in the transition is Tom Nastos, a seasoned fashion executive and advisor to Argand. He highlighted Capezio’s rich history and expressed confidence that under Argand's stewardship, the company will uphold its legacy while innovating its product offerings. This commitment to blend tradition with modernity aims to ensure that Capezio continues to be a respected name within the industry as it adapts to changing dynamics.

Supporting this acquisition, Jeremiah Wanzell of Growth Mindset Advisors assisted with due diligence and strategies for value addition. Meanwhile, Meriwether Group acted as the sell-side advisor to Capezio. David Howitt, the Firm’s CEO, shared insights about the depth of Capezio’s legacy in the dance industry and conveyed confidence in Argand’s ability to propel the brand into its next chapter with strategic expertise and resources.

Argand Partners is recognized for investing in niche market leaders with sustainable competitive advantages and growth potential. Their hands-on approach to partnering with excellent management ensures value creation throughout the investment lifecycle. By focusing on successful brands like Capezio, Argand is also committing to the UN-supported Principles for Responsible Investment, which reflects a contemporary ethos in private equity investing.

As this new chapter unfolds for Capezio, stakeholders are looking forward to witnessing the synergies that will emerge from the partnership with Argand Partners. With a focus on innovation and expansion, the future looks promising for Capezio, solidifying its standing as a leading name in dancewear while fostering a deeper connection with the global dance community.