And The Worldstar Sustainability Award In Gold Goes To: Starlinger For Its rPET PP*STAR!

VIENNA, Austria — June 20, 2018 — Starlinger is proud to announce that its pinch bottom bag made from 100-percent used PET bottle flakes has won the WorldStar Sustainability Award 2018 in Gold!

In addition to winning a WorldStar Award in the category “Packaging Materials and Components” with the bag concept rPET PP*STAR, Starlinger had been shortlisted for the Sustainability Award of the World Packaging Organisation (WPO) since January 2018. The winners of this special category were only announced at the official award ceremony that took place in Gold Coast, Australia on May 2, 2018. Starlinger Managing Partner Angelika Huemer, who personally attended the ceremony, had the pleasure of accepting the award in Gold from Antro Saila, WPO Vice President Sustainability and Save Food.

“Winning the Sustainability Award in Gold is a great honor and encourages us to continue to develop packaging concepts that are not just functional, but sustainable as well,” says Angelika Huemer. “The transition towards a circular economy is currently a hot topic in the plastics industry, and we are proud to be one of the forerunners in this important process.”

The rPET PP*STAR — a pinch bottom bag for products such as dry pet food, fertilizer, sugar, flour, or rice — consists of plastic fabric that is produced directly from used PET bottle flakes. This type of packaging can in turn be recycled after use, thereby achieving a closed loop production. On top of its excellent recyclability, the rPET PP*STAR features a low deadweight, which saves material in production and carbon dioxide during bag transportation. The bag itself weighs only 117 grams, but holds 50 kilograms of fertilizer! And despite its low weight, the rPET PP*STAR is extremely resistant to breakage.

Given the numerous advantages of PET, it is hardly surprising that other packaging types are also produced from bottle flakes on Starlinger machinery — for example the rPET FIBC (a flexible intermediate bulk container or big bag) and sheet (viscoSHEET) for food trays.

PP*STAR® is a registered trademark. PP*STAR® bags are manufactured exclusively on Starlinger machinery.

Posted June 20, 2018

Source:  Starlinger & Co. Gesellschaft m.b.H.


Teijin Group Celebrates Centennial, Looks toward Next Hundred Years With “FUTURE NAVIGATION” Message

TOKYO — June 15, 2018 — Teijin Ltd. announced today that it will commemorate the 100th anniversary of its establishment as a company on June 17.

As it looks back over its century of history, Teijin is also taking the opportunity to look toward the next hundred years, unveiling a new global message of FUTURE NAVIGATION as it pursues its long-term vision, aiming to be an enterprise that supports the society of the future. Moreover, Teijin is marking its centennial with the THINK HUMAN PROJECT, a symbolic initiative that puts the Future Navigation message into practice.

Teijin was founded in 1918 as Japan’s first rayon manufacturer, and has retained the global mindset and adventurous spirit of its early days in the years since. Over its century of history, Teijin has grown its business and expanded into new fields through chemical technology, cutting-edge research and development, and epochal innovations, embracing ceaseless evolution and ambition.

The Teijin Group currently operates in the materials business field, providing its own high-performance materials, and the health care business field, including pharmaceuticals and home healthcare equipment, as it develops new business fields to create new value.

In future, the Teijin Group will further leverage its capabilities through business synergies and technical innovations, focusing on materials and healthcare as two pillars supported by its ICT technical foundation for creating and delivering its own distinctive solutions that help to solve social issues.

On the occasion of its centennial, the Teijin Group is launching the message “Toward the world we all desire: Future Navigation,” focusing on quality of life (QOL) for future humanity.

FUTURE NAVIGATION:

Technology will continue to advance as it has over the past 100 years. However, technology must not be allowed to overwhelm humanity. Chemistry must comprehend and care for humanity instead.

If Teijin’s chemistry can understand humanity better, if it can develop hopes for the future of humanity and evolve to improve QOL, then Teijin can help lead the way toward an ideal world.

Based on a long-term vision encompassing the entire century to come, Future Navigation is a message backed by Teijin’s long experience of resolving the issues that face humanity. With eyes on future QOL for humanity, the Teijin Group will show the way to the world that humanity desires.

To achieve this goal, Teijin will break through its passive attitude of providing solutions to existing issues and explore chemistry beyond materials and products to reach services, systems, and even interpersonal connections, creating new value that has never existed before.

By expanding the field of chemistry, the Teijin Group will become an enterprise that puts people first in its thinking — a proactive force for improving QOL for future humanity.

THINK HUMAN PROJECT:

Technological evolution in recent years has given us an ever-changing world.

As this evolution deepens into uncharted territory, what is happening to the journey of humanity itself?

Teijin has put people first in its thinking for the past century.

The message “Toward the world we all desire: FUTURE NAVIGATION” encapsulates Teijin’s goal of finding solutions for future humanity.

Divided into personal and social components, the THINK HUMAN PROJECT identifies key elements that Teijin will explore as ideas for humanity through analysis, research and publishing the results.

Based on the Future Navigation message, the THINK HUMAN PROJECT marks Teijin’s centennial with nine individual research programs looking beyond the traditional bounds of chemistry to create solutions in anticipation of future human needs. Activity on these programs is already well underway.

Each of the nine project teams has been assigned a theme drawn from the key elements of humanity to explore using a variety of angles and approaches. Project team members are selected from the Teijin Group employees across the globe. The teams will deepen their understanding of today’s humanity through rich creativity cultivated by their experiences in Teijin, search for ways to improve QOL for future humanity, and investigate their challenging hypotheses in collaboration with external experts.

Progress reports will be accessible through Teijin’s centennial anniversary website (https://100.teijin.co.jp/en/) and the results are expected to be announced later this year.

THINK HUMAN PROJECT

  • PROJECT 01: Environment – What will the society realized by a circular economy be like?
  • PROJECT 02: Aging – What does aging mean in a 100-year-life?
  • PROJECT 03: Sensitivity – Does sensitivity have value in communication?
  • PROJECT 04: Clothing – What can we learn from biomimetics in clothing?
  • PROJECT 05: Humanness – What will humanity be like when humans can augment their functions?
  • PROJECT 06: Mobility – How will automatic driving vehicles change values in the living sphere?
  • PROJECT 07: Super-aged society – How will the super-aged society change lifestyles?
  • PROJECT 08: Living space – How do living environments reflect biological clocks?
  • PROJECT 09: Food – How will commodification change dining experiences?

Communication Plan

The FUTURE NAVIGATION message and other initiatives celebrating Teijin’s centennial will be disseminated through Teijin’s centennial anniversary website and a wide range of media internally and externally. Focusing on aspects of QOL for future humanity, Teijin also will disseminate visual art questioning the meaning of humanness, the essence of humanity, and human society.

Posted June 20, 2018

Source:  Teijin Group

Happypunt Delivers Fast Fashion By Implementing Gerber’s PLM And 3D Digital Solutions

TOLLAND, Conn. — June 20, 2018 — Fast fashion can be slowed down by the physical sampling process. Additionally, the costs of samples are a continued concern in the fashion and apparel industry. “The implementation of Gerber’s AccuMark® 3D and YuniquePLM® will help us to address consumer trends immediately, making sure to have the right style with the correct fit as demand changes,” said Marta Bosch, chief operation officer at Happypunt.

Located in Mataró (Barcelona) and founded in 1996, Happypunt is a full-service design, development and manufacturer of womenswear.

Happypunt is utilizing Gerber’s software Digital Solutions to help them reduce costs and time to market and integrate with their ERP system to provide efficiency in design and prototyping of their products. “We expect a relevant reduction in samples that would directly affect our manufacturing costs,” continued Bosch.

Happypunt has been using AccuMark pattern design, grading, marker making and production software since 2013. By adding AccuMark 3D and YuniquePLM, they achieve the additional benefits of seamless data transfer from one program to another, decreasing design time of products.

“We are excited to help Happypunt connect their workflow to address the fast fashion needs and cycle,” said Bill Brewster, vice president and general manager, enterprise software solutions for Gerber Technology. “Connectivity is a key tenet of our Digital Solutions to help companies achieve their Industry 4.0 goals.”

Posted June 20, 2018

Source:  Gerber Technology

North American Machine Vision Market Grows 19 Percent In First Quarter Of 2018, Sets New Records

ANN ARBOR, Mich. — June 20, 2018 — North American sales of machine vision components and systems increased 19 percent year-over-year to $709 million in the first quarter of 2018, setting a new all-time record for quarterly sales, according to new statistics issued by AIA, the industry’s trade group.Total machine vision sales includes sales of components and systems. The machine vision components category grew 28 percent to a new record high of $107 million during the first quarter. The growth in components was primarily driven by camera sales, which increased 44 percent to $65 million. Optics (16 percent to $12 million) and software (9 percent to $5 million) markets also experienced growth in the first quarter.

The machine vision systems category increased 17 percent to $597 million in the first quarter of 2018. Within the systems category, sales of smart cameras climbed 26 percent to $109 million, while application specific machine vision (ASMV) systems grew 16 percent to $488 million.

“Our most recent poll of industry experts revealed that 45 percent of respondents expect the market to increase over the next two quarters, 42 percent predict stagnation, and 13 percent are bracing for a decline,” said Alex Shikany, vice president – AIA. “We continue to see demand for vision systems that are smaller, intuitive, cost effective, and complimentary to a more connected automation system. It’s an exciting time to be in this field with the innovation we’re seeing at every turn.”

“Vision technology is being integrated in a growing number of automation applications today because the technology is enabling new ways to solve complex challenges.” said AIA President Jeff Burnstein. “Growing global trends such as autonomous vehicles, AI, and unmanned aerial vehicles (UAVs) rely heavily on vision and imaging, which bodes well for the future of this industry.”

The Vision Show Breaks Attendance Records

AIA sees the impact of the growth in demand for vision and related automation at industry events such as The Vision Show, most recently held in Boston from April 10-12, 2018. This year’s show featured more than 150 exhibitors displaying their latest technologies and services, including global suppliers of vision systems, imaging components, embedded technologies, software, system integration services, and collaborative robots for enterprises large and small. More than 2,500 people attended The Vision Show 2018, including over 275 participants in the 50+ conference sessions held at the event.

Silicon Valley’s Collaborative Robots & Advanced Vision Event Adds AI for 2018

AIA and its sister group, RIA – the Robotic Industries Association, are teaming up again to bring more content on leading-edge robot, machine vision, and new for 2018 – AI. The Collaborative Robots, Advanced Vision & AI Conference (CRAV.ai) will take place October 24-25, 2018 at the Hyatt Regency in Santa Clara, CA. AIA and RIA recently announced that leading researchers Ken Goldberg (UC Berkeley) and Pieter Abbeel (covariant.ai & UC Berkeley), will be two of the several keynote sessions at the event. Breakout sessions at CRAV.ai will feature presentations from market leaders in robotics, vision, and AI, and the accompanying tabletop exhibition will showcase the technologies live during two full days of open exhibits.

Posted June 20, 2018

Source:  AIA

Columbia Sportswear Company Partners With Oregon Department Of Transportation For Litter Control Pilot Project

PORTLAND, Ore. — June 19, 2018 — Columbia Sportswear Co. and the Oregon Department of Transportation have teamed up to clean up Highways 26 and 405. A new pilot program to supplement litter removal along the Sunset Highway was funded by Columbia Sportswear CEO Tim Boyle.

“The image of our state is that it is green and clean,” said Tim Boyle. “Our highways should be free from litter, just like our natural spaces.”

“ODOT sincerely appreciates Tim Boyle’s generosity and willingness to improve our community,” said Rian Windsheimer, ODOT regional manager for the Portland area. “The litter problem has gotten worse along our highways and we are eager to put this gift to good use.”

The new program will run from June 15, 2018 to June 15, 2019 and will allow ODOT to increase the frequency of trash pick-up from 3 days per month to 5 days per month. Tim Boyle would like others in the community to give to litter removal efforts as well.

“I’d like to see other people come forward and make donations to ODOT as well – they can’t do it alone,” said Tim Boyle.

Posted June 19, 2018

Source:  Columbia Sportswear

Shutts Expands Litigation Practice Group With de Cespedes And Lundeen Soto

MIAMI — June 19, 2018 — Shutts & Bowen LLP announced today it has expanded its Business Litigation Practice Group with the addition of two new partners, Angela C. de Cespedes and Miranda Lundeen Soto, in its Miami office.

“We are building an even stronger team of attorneys at Shutts with these two experienced courtroom litigators,” said Aliette DelPozo Rodz, a Partner in the firm’s Business Litigation practice group and a commercial litigator. Rodz is Chair of the firm’s Cuba Task Force, Diversity Committee, and Focus on Women Group. She was named the firm’s first Hispanic female Partner in 2007 and has been with Shutts since January 2002.

Francis E. Rodriguez, Managing Partner of the Miami office, said: “De Cespedes and Lundeen Soto are great additions to the firm. Shutts continues to acquire highly qualified legal talent who embody the culture of our firm.”

Both de Cespedes and Lundeen Soto join Shutts after several years at two different national firms. The almost identical timing of their moves is no coincidence, as both women acknowledge that the opportunity to work alongside each other and Rodz was an enormous draw. Further, the Shutts lawyers who participated in their recruitment exemplified the team mindset of the firm.

Angela de Cespedes is an experienced trial attorney, who has multi-state and international experience in complex tort and commercial litigation. Businesses and institutions enlist de Cespedes to manage crisis situations to circumvent litigation and defend allegations involving business disputes, premises liability, products liability, trade secret, and employment issues. De Cespedes acts as a liaison with government agencies and other third parties to minimize risk and avoid unjustified public perception.

Her practice includes the representation of diverse clients including hotel owners, developers and operators; food services providers; professional sports leagues, teams, and their stadiums; social media companies; software companies; educational institutions; and apparel brands.

De Cespedes is a leader in the field of the use of social media and online content in the defense of litigation, and frequently lectures and is a noted author on the subjects. She also provides training to clients on the subjects of crisis/incident management and data/evidence retention, including a new e-learning course covering various areas of data/evidence collection and preservation – the only Professional Certificate in this area bestowed by an accredited law school in the United States.

“In an industry fraught with challenges for female partners who have moved up the ranks at large firms, it was critical to find a firm that valued my contributions, talents, and would support my continued growth professionally while providing the platform necessary to take my practice to the next level,” said de Cespedes.

Miranda Lundeen Soto is a Board Certified Civil Trial lawyer and has tried more than 50 cases including bench and jury trials to verdict. She has litigation experience in many areas including commercial and business disputes, professional and legal malpractice claims, product liability, complex fraud matters, public policy matters, cases of first impression, high-stakes personal injury cases, premises liability, and franchisee/franchisor litigation at the state and federal levels.

Lundeen Soto is an active member of the American Board of Trial Advocates (ABOTA), Co-Chair of the Federation of Defense and Corporate Counsel’s Trial Tactics Program and is a member of the Florida Bar Grievance Committee. She is also on the Board of Directors for the Dade County Bar Association and was the 2018 recipient of the Dade County Bar Association’s Women of Distinction Legal Maverick Award.

Lundeen Soto began her career as an Assistant State Attorney in the Miami-Dade County State Attorney’s office, where she fine-tuned her skills as a trial attorney. She later went on to act as Lead Counsel for Allstate Insurance Company’s Miami and Ft. Myers legal offices, gaining experience in the role of in-house counsel. Prior to coming to Shutts, Lundeen Soto was a litigation partner and served as trial counsel for several high profile litigation matters at a large national firm.

“I have admired the fine work product and professionalism of Shutts for many years, and when the opportunity arose to join the firm and expand its dynamic group of litigators, the decision was easy,” Lundeen Soto said. “The opportunity to work with incredibly strong and talented attorneys, building each other up and showcasing each other’s strengths – all with the support of Shutts – makes us unstoppable.”

Bowman Brown, Chairman of the firm’s Executive Committee, added: “We are so pleased that both Angela and Miranda have joined Shutts. Although we highly value diversity, we value excellent attorneys even more. A good litigator is someone who listens to their client and who can put together the best strategy to get the client to the goal. We know we have a top-notch team who can accomplish just that.”

Posted June 19, 2018

Source:  Shutts & Bowen LLP

Meet The Sponsors Of The 2018 Natural Fiber Extravaganza

Nashville, Tenn. — June 18, 2018 — Karl and Jan Heinrich are known across the country for their herd of beautiful, award winning suri alpacas and for being leaders in alpaca fleece processing. Their reputation for producing beautiful, unique items from alpaca fleece is such that they were approached by the Country Music Awards and asked to provide designer scarves to be included in a package of locally sourced gifts given to each CMA presenter at the 2018 ceremony.

The Heinrichs first learned about alpacas in August of 2002 when they saw a commercial featuring the livestock. In October, they attended the Southeastern Animal Fiber Fair to see alpacas first-hand and to learn more from individuals already in the business. In November, they purchased 4 female suri alpacas from 3 different farms. And Long Hollow Suri Alpacas was started.

Many aspects about the alpaca industry appealed to the Heinrichs. Alpacas are environmentally friendly and cruelty free. They wanted to raise livestock on their 5 acres but were looking for an alternative to traditional farming, which usually entails a one-way road trip for animals.

“Initially, I mainly thought they would be great help in keeping the front yard trimmed,” said Jan. “Soon, however, our passion for their fleece became our focus.”

“It is one thing to see a garment made from alpaca,” said Karl, “but when you touch it, it is incomparable. Whether cloth, yarn or knitware, huacaya and suri both provide a very unique sensation compared to other fibers.”

Their newfound passion for alpaca fleece became their life and in 2005, the Heinrichs became the owners of New Era Fiber, LLC. New Era Fiber specializes in processing huacaya and suri alpaca fleece into luxurious, eco-friendly yarn and garments. The soft and light feeling of their products is the result of their commitment to carefully managing every step of their manufacturing process to ensure product excellence while keeping the environment in mind.

At New Era Fiber, the Heinrichs process fleece not only from their alpacas but from alpacas throughout the U.S. They are now located on a 62-acre facility in Gallatin, TN.

Long Hollow Suri Alpacas/New Era Fiber are this year’s sponsor for the premiere natural fiber event of the year, the inaugural 2018 Alpaca Owners Association (AOA) Natural Fiber Extravaganza. The event is July 13-15 at the Wilson County Exposition Center in Lebanon, Tenn., and will feature:

  • Dozens of vendors selling a variety of items, many all natural and local
  • Alpaca Selfie Booth
  • Spinning Demonstrations
  • History of Spinning display
  • Hands-on Workshops
  • Knitting Classes
  • Knitting gathering area
  • Fleece, Fiber and Farm Seminars
  • Livestock Business Seminars
  • General Alpaca Seminars
  • Photo Contest Display
  • Student Design Competition Winners’ Display
  • National Fleece Show

(Free to the public Friday and Saturday 9 a.m. – 4 p.m. and Sunday 9 a.m. – 3 p.m.)

“The Natural Fiber Extravaganza is another step forward toward the expansion of the alpaca industry,” said Karl. “This event links alpaca fleece with the rest of the natural fiber world.”

“We are presenting ourselves to the third largest fashion economy in the country,” added Jan. “It is going to be a win/win situation for all involved.”

Be sure to say hello to Karl and Jan at the event! New Era Fiber will have available yarn, shawls, capes and scarves, including the designer scarf received by presenters at the 2018 CMA.

Posted June 19, 2018

Source:  Alpaca Owners Association (AOA)

CTC Global Names Gabriel Tashjian COO

IRVINE, Calif. — June 18, 2018 — Today, CTC Global announced that Gabriel Tashjian has been named as its COO. In this role, Tashjian will lead CTC Global’s manufacturing, supply chain management, quality assurance, environmental health and safety, and facilities management. He will report to J.D. Sitton, CTC Global’s CEO, and will serve as a member of CTC Global’s senior leadership team.

Tashjian joins CTC Global from General Electric, where he served as GE’s corporate Digital Transformation Leader for Customer Experience and before that as managing director of GE Industrial Solutions Global Panel Builder business, prior to its sale. J.D. Sitton stated: “Gabriel is an accomplished entrepreneur, disciplined and creative problem solver, and operating executive with a successful track record in start-up, growth-stage, and mature businesses around the world. His global perspective and emphasis on team-building will ensure that CTC Global’s supply chain and manufacturing capabilities keep pace with CTC Global’s rapidly growing, dynamic markets.” Sitton added: “CTC Global works with a number of world-class manufacturing partners to serve leading utility companies around the world. My colleagues and I are looking forward to working with Gabriel to expand and deepen these relationships in the months and years ahead.”

Tashjian’s 20 plus years of experience in the energy and technology sectors include multiple management roles with increasing responsibilities in a range of operations in North America, Europe, the Middle East, Asia, and Africa. Tashjian said: “Utility companies are discerning customers. I am impressed with CTC Global’s accomplishments and its reputation for quality and reliability. I am looking forward to working with the team to build on these and to grow its manufacturing capabilities and market presence.”

In a related move, Marv Sepe has been named senior vice president for CTC Global and General Manager for Jiangsu NARI CTC Composite Materials Ltd., CTC Global’s joint venture operation in Huaian, China. In this new role, Sepe is responsible for a number of external growth initiatives and for managing the growth and operation of the Chinese JV. Previously Sepe served as CTC’s COO. Over the course of 12 years he drove the development and scale-up of CTC’s manufacturing processes and led the effort to achieve ISO 9001-2015 at each of CTC Global’s manufacturing facilities. Sepe has also been a member of the U.S. Department of Commerce’s District Export Council for Southern California since 2010 and currently serves as its chairman. Sepe will continue to serve as a member of CTC Global’s senior leadership team.

CTC Global is the privately held developer, marketer, and manufacturer of the patented carbon fiber composite core used in the ACCC® conductor, the high performance, high voltage power line solution. CTC Global serves utility and industrial companies around the world and has provided cores used in nearly 600 projects totaling over 60,000 kilometers of power line conductors. CTC Global is headquartered in Irvine, California.

Posted June 19, 2018

Source:  CTC Global

The Finish Line, JD Sports Fashion Announce Completion Of Merger

INDIANAPOLIS — June 18, 2018 — The Finish Line Inc. and JD Sports Fashion Plc announced today that they have completed their merger. As a result of the merger, Finish Line has become an indirect wholly-owned subsidiary of JD Sports, which is the leading European retailer of sports, fashion and outdoor brands, thereby creating a market-leading multi-channel, multi-branded retailer of sports fashion and footwear with expanded global scope.

“We are delighted to announce that we have today completed the acquisition of Finish Line,” said Peter Cowgill, executive chairman of JD Sports. “This marks a momentous step in JD Sports’ global expansion and represents an exciting opportunity to bring our market leading, multi-brand retail proposition to the world’s largest athleisure market, both online and in stores. Our team will now collaborate with the experienced Finish Line management team and the key global brands to bring best in class retail theatre and multi-channel consumer experience to the US.”

Sam Sato, CEO of Finish Line, added: “Today, with the closing of this merger with JD Sports, Finish Line opens an exciting new chapter. With a global footprint, together we will bring leading-edge innovation and service to our customers. Our shared vision and drive to provide a premium retail experience will further our impact as a leading, premium multi-channel retailer of sports, fashion and outdoor brands.”

Barnes & Thornburg LLP served as legal counsel to Finish Line. PJ SOLOMON served as lead financial advisor, Houlihan Lokey Capital, Inc. served as financial advisor and Faegre Baker Daniels LLP served as legal counsel to Finish Line’s Special Committee of the Board of Directors in connection with this transaction.

Barclays served as lead financial advisor to JD Sports and Hughes Hubbard & Reed LLC, Addleshaw Goddard LLC and Taft Stettinius & Hollister LLP served as legal counsel to JD Sports. Barclays, HSBC Bank and PNC Bank, National Association provided financing to JD Sports for the transaction.

Posted June 19, 2018

Source: The Finish Line, Inc.

Varsity Brands, The Leader In Elevating Student Experiences In Sports, Spirit, And Achievement, To Be Acquired By Bain Capital Private Equity

DALLAS — June 19, 2018 — Varsity Brands, the market leader in team sports, school spirit and achievement recognition, today announced the signing of a definitive agreement to be acquired by Bain Capital Private Equity, a leading global private investment firm. Varsity Brands is being acquired from Charlesbank Capital Partners and funds managed and/or advised by Partners Group, which purchased the company in 2014. Financial terms were not disclosed.

Founded in 1974, Varsity Brands elevates the student experience through its three businesses: BSN Sports, the largest team sports equipment and apparel distributor in the United States; Varsity Spirit, a leader in cheerleading uniform innovation and educational camps, clinics and competitions; and Herff Jones, a leading provider of graduation and educational products and services. Each business promotes personal, school and community pride through its customizable products and programs to elementary and middle schools, high schools and colleges/universities, as well as professional and collegiate sports teams and corporations. Through its 9,000 dedicated employees and independent representatives, Varsity Brands reaches its individual and institutional customers each year via catalog, telesales, e-commerce sites and direct sales channels.

“This new partnership presents Varsity Brands with an exciting opportunity to continue to expand and improve our products and services while remaining steadfast to our commitment to improving student life and overall engagement,” said Adam Blumenfeld, Chief Executive Officer of Varsity Brands, who will continue to lead the business. “Bain Capital’s extensive consumer and technology experience and their commitment to our mission of empowering young people will help us accelerate our growth to a new level.”

Blumenfeld added, “We are grateful to Charlesbank and Partners Group for their support and guidance. They have played an integral role in helping Varsity Brands execute our growth strategy while serving as excellent partners in pursuit of our unique and powerful mission.”

“For over 50 years, Varsity Brands has served as an essential force for good as part of the academic and athletic student experience,” said Ryan Cotton, a managing director at Bain Capital Private Equity. “We are excited to partner with the company’s experienced, committed management team to amplify the company’s e-commerce operations and digital expansion, while accelerating its growth through complementary acquisitions and organic initiatives to become the go-to source for every school’s sport, spirit and achievement needs.”

Bain Capital Private Equity possesses deep experience in the consumer/retail sector, having made investments in a wide range of companies, including Canada Goose, TOMS Shoes, Blue Nile, BRP, Daymon Worldwide, Bright Horizons, Burlington Stores, and Sundial Brands.

“We were fortunate to partner with Adam and his outstanding management team and enjoyed working with them to execute on their growth strategy,” said Andrew Janower, a Managing Director at Charlesbank Capital Partners. “Together, we closed multiple strategic acquisitions, grew the sales force, achieved significant cost-savings and enhanced the customer experience. We are proud of what Varsity Brands has achieved and are confident that its success will continue as it pursues its next growth phase.”

The transaction is subject to customary closing conditions, including requisite regulatory approvals, and is expected to close during the third quarter of 2018.

Jefferies LLC is serving as lead financial advisor to the sellers, and Goldman Sachs and Peter J Solomon are serving as co-advisors. Goodwin Procter and PwC are providing the sellers with legal and accounting advisory services, respectively. Kirkland & Ellis is serving as legal counsel, and PwC is acting as accounting advisor to Bain Capital Private Equity.

Posted June 19, 2018

Source: Varsity Brands

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