#United States #H.I.G. Capital #Miami #GLD Shop #MarcyPen

H.I.G. Capital Sells Majority Stake in GLD to MarcyPen Capital Partners

H.I.G. Growth Partners, a prominent division of H.I.G. Capital, recently made headlines with the announcement of the sale of a majority stake in its portfolio company, The GLD Shop, to MarcyPen Capital Partners. This strategic move marks a significant transition for GLD, a renowned lifestyle jewelry brand that has captured the hearts of many since its inception in 2015.

Based in Miami, GLD has emerged as a leader in the jewelry market, known for its exquisite designs of both classic and custom pieces, including chains, pendants, watches, and accessories. The brand has developed a strong cultural presence, earning the trust of a diverse clientele that includes top athletes, artists, and influential figures across various industries. With a unique blend of streetwear aesthetics and luxury craftsmanship, GLD is redefining modern jewelry and its place in the intersections of sport, music, and fashion.

The sale to MarcyPen Capital Partners, along with Brand Velocity Group, is viewed as a pivotal step for GLD as it embarks on its next chapter of growth. H.I.G. Capital will maintain a minority interest in GLD, ensuring continued support and collaboration with the company as it expands its market reach and product offerings.

Evan Karp, Managing Director at H.I.G. Growth, expressed pride in the transformation of GLD, noting that its journey from a digital disruptor to a category leader was a shared vision with the management team. He believes that MarcyPen and Brand Velocity Group are well-positioned to build upon the strong foundation established during H.I.G.'s involvement.

Christian Johnston, the Founder and Chief Creative Officer of GLD, echoed Karp's sentiments, highlighting the invaluable role that H.I.G. played during their partnership. He emphasized the collaborative approach that allowed GLD to achieve significant milestones, from expanding its product lines to enhancing its marketing strategies. The continuation of the partnership with H.I.G. in conjunction with the new investors is seen as a strong advantage for the brand moving forward.

Since establishing its brand, GLD has seen an impressive revenue increase of over 130% in four years, underlining its popularity and profitability. With a roster of celebrity endorsements from the likes of Carmelo Anthony, Kevin Durant, and Snoop Dogg, GLD is well on its way to solidifying its place as a continuously-evolving cultural icon within the jewelry sector.

In addition to its success in sales, GLD has also become an official licensing partner for notable leagues and franchises including the NBA, NFL, MLB, NCAA, NHL, WNBA, and even DC Comics. This strategic positioning further enhances the brand's visibility and relevance across various demographics, ensuring its products remain on-trend and appealing to the contemporary consumer.

As the jewelry market continues to evolve, GLD stands prepared to adapt and grow, with the combined support of H.I.G., MarcyPen, and Brand Velocity Group. Their strategic partnership is anticipated to foster new opportunities and propel the brand into new heights, as it continues to innovate and redefine the standards of modern jewelry within the lifestyle sector.

In summary, the sale of the majority stake in GLD to MarcyPen Capital Partners demonstrates H.I.G. Capital’s commitment to fostering growth and expansion within its portfolio companies while still playing an active role in their success. This move signifies an exciting new era for GLD as it seeks to capitalize on its strengths and further its influence within the jewelry industry.