CLEVELAND — January 9, 2023 — Blue Point Capital Partners and its portfolio company Next Level Apparel (NLA) are pleased to announce the acquisition of Germany-based Stedman GmbH, a designer, manufacturer and supplier of premium casual and sportswear blank apparel for the printwear industry.
Since 1953, Stedman® has stood for top quality and ethically produced clothing across men’s, women’s and youth apparel — all of which are complementary with NLA’s product collections and reputation for superior quality, fit and style. With a distribution center in Ghent, Belgium — and a market presence in over 40 countries — Stedman’s international foundation will serve as a critical accelerant to NLA’s strategic geographic expansion in Europe.
“The team at Stedman is excited to join ranks with Next Level Apparel, a strong partner and the perfect match, thanks to numerous synergistic qualities and values across both companies,” said Stedman General Manager Marcel Schweigert. “This partnership opens up new growth opportunities for everyone involved, and I am personally thrilled to be part of it, not only as a stakeholder but also as a shareholder.”
Founded in 2003, NLA is a leading designer, manufacturer and supplier of premium blank apparel for the printwear, retail, brand specialty and other decorated apparel markets.
“The Stedman team has built a strong brand and a culture of excellence, and we’re excited to have them join Next Level Apparel,” said NLA CEO Randy Hales. “This partnership presents a great opportunity to expand and diversify both organizations’ footprints across Europe and the U.S.”
Blue Point Principal Evan Cottington said, “Not only is this an exciting milestone for all involved, it also further validates our belief in M&A and geographic expansion as key drivers for the business’s strategic growth.”
Jones Day served as Blue Point’s legal advisor for the transaction.
Posted: January 9, 2023
Source: Blue Point Capital Partners
