Outerstuff, Ltd., (“Outerstuff" or the “Company") the leading designer,
manufacturer and marketer of licensed children’s sports apparel for all
of the major sports leagues in North America, today announced that it
has closed an investment from private equity funds affiliated with
Blackstone (NYSE: BX) ("Blackstone"). Blackstone will invest alongside
founder and CEO Sol Werdiger, who will roll over equity in the
transaction, and Blackstone will share equal economics and governance
with the current shareholders. Blackstone will support Outerstuff in the
next phase of its growth as it expands its presence in the sports
apparel industry, both domestically and internationally.
“At Outerstuff, our vision is to become the preeminent global provider
of apparel serving our sports league and brand partners,” said Sol
Werdiger, Outerstuff founder and chief executive officer. “Our
partnership with Blackstone gives us the financial resources and
expertise we need to realize that vision. I am extremely excited about
working with Blackstone as we begin the next chapter of our growth
story.”
Outerstuff has established itself as an industry leader in the branded
youth apparel market by leveraging its in-house design team, low-cost
manufacturing, sophisticated demand-planning methodology and
long-standing relationships with the leagues, brands, and retailers.
Outerstuff designs and produces children’s jerseys, t-shirts and other
clothing items for the leading brands in American sports, including the
NFL, MLB, NBA, NHL, MLS, US Olympic Committee, and more than 200 leading
colleges and universities, as well as Adidas’ youth apparel. Outerstuff
collaborates closely with its league and corporate partners and is
viewed as a trusted partner in their apparel business.
“Sol Werdiger is a visionary entrepreneur who has built Outerstuff into
a unique and important strategic partner to sports leagues and sports
apparel companies alike,” said Peter Wallace, a Senior Managing Director
with Blackstone’s Private Equity business. “We are excited to partner
with Sol and his outstanding management team and we look forward to
supporting Outerstuff’s continued growth and expansion.”
Sullivan & Cromwell served as legal advisor to Outerstuff during the
transaction. Blackstone was advised by Wells Fargo Securities and
Simpson Thacher & Bartlett LLP.
About Outerstuff, Ltd.
Outerstuff is a leading designer and manufacturer of branded youth
apparel for the major sports leagues in North America as well as Adidas
and more than 200 leading colleges and universities. The Company
operates via exclusive contracts with the leagues to produce their
branded youth apparel, which it sells through specialty sporting goods
stores and leading general retailers. Headquartered in New York, New
York, Outerstuff was founded in 1983 by Sol Werdiger, who continues to
be CEO today, and has built a market-leading position by delivering high
quality products and sales performance to its league and apparel
partners. For additional information on Outerstuff, visit www.outerstuff.com.
About Blackstone
Blackstone is one of the world’s leading investment and advisory firms.
We seek to create positive economic impact and long-term value for our
investors, the companies we invest in, the companies we advise and the
broader global economy. We do this through the commitment of our
extraordinary people and flexible capital. Our asset management
businesses include investment vehicles focused on private equity, real
estate, hedge fund solutions, non-investment grade credit, secondary
funds, and multi asset class exposures falling outside of other funds’
mandates. Blackstone also provides various financial advisory services,
including financial and strategic advisory, restructuring and
reorganization advisory and fund placement services. Further information
is available at www.blackstone.com.
Follow Blackstone on Twitter @Blackstone.
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