Dominus Capital, L.P., a leading private equity firm based in New York City, announced today the sale of L2 Brands Holdings. “During our partnership with Dominus, L2 Brands has experienced tremendous growth,” said Paige Wingert, CEO of L2 Brands. “Dominus helped us achieve significant scale to become one of the top collegiate licensees, diversify across end markets, and build a flexible, vertically integrated supply chain. The entire management team is thankful for Dominus’ support.”
“We are grateful for partnering with Paige and his talented management team as they successfully executed on several important growth initiatives.” said Ashish Rughwani, Founding Partner at Dominus Capital. “After completing the merger of League Collegiate Wear and Legacy in 2018, we collectively worked on cementing the Company’s market leadership in licensed apparel and headwear. In addition to realizing revenue and cost synergies from this merger, L2 Brands significantly expanded its product portfolio, developed several new channels and customers, and bolstered its near shore manufacturing capabilities in El Salvador, improving lead times and manufacturing flexibility while augmenting sustainable and responsible business practices. A third acquisition of One Coast enhanced the Company’s sales infrastructure, and L2 Brands today is a leader in the college and resort market segments poised for tremendous, continued growth.”
Gary Binning, Founding Managing Partner of Dominus Capital added, “The L2 Brands story is very similar to many other Dominus investments where both organic and acquisition growth are part of the strategy. The resources we brought to L2 Brands enabled it to more than triple its size during our ownership period.”
Robert W. Baird & Co. served as financial advisor, while Lincoln International served as co- financial advisor. White & Case LLP served as legal counsel.
L2 Brands is a premier maker of branded apparel and headwear. The company serves the collegiate, destination and leisure, and corporate markets under the League and Legacy brand names, producing some of the most recognizable All-American lifestyle products in the marketplace. From its locations in Pennsylvania and El Salvador, L2 has earned a reputation for making stylish, comfortable, and reliable products that connect consumers with the schools, traditions, destinations, and workplaces they identify with and love. Dominus formed L2 Brands with the merger of League Collegiate Outfitters (“League”), which Dominus acquired in 2016, and L&W Apparel Co., Inc (“Legacy”) in 2018. For more information about the company, visit www.league-legacy.com.
Based in New York City, Dominus Capital is a leading middle-market private equity investment firm that focuses on management-led buyouts in companies in the business services and light manufacturing sectors. Drawing on the experience, knowledge and network of its founders and a team of in-house operating executives, Dominus Capital works hand-in-hand with exceptional management teams to unlock the untapped potential of its portfolio companies. The Dominus Capital team members have executed over 90 transactions over the past 20+ years and have a highly successful track record of achieving significant growth at its portfolio companies. For more information, please visit www.dominuscap.com.
