AVCJ

Lazard acquires minority stake in 2XU

  • Susannah Birkwood
  • LinkedIn  
  • Google plus  
  • Save this article  

Lazard Australia Private Equity has acquired a significant minority stake in sports apparel brand 2XU.

The investment was channeled via Lazard's Corporate Opportunity Fund 2, which just announced a first close on $120 million.

Lindsay Phillips, who heads up the investor's PE division, said: "2XU is an attractive investment proposition for us due to the market-leading position of the brand as well as the strength and ambition of the management team."

The new capital should help the company move closer toward its goal of becoming the largest technical sports apparel manufacturer in the world

Executive Chairman Clyde Davenport, who founded the business alongside Aidan Clarke and Jamie Hunt, added that, "2XU is determined to be Australia's first global sportswear power brand."

Established in Melbourne in 2005, 2XU's clothing lines include Compression, Triathlon, Cycle, Run, Swim and women's Run-Fitness.

Following the transaction, John Wylie, managing director of Lazard Australia, will hold a seat on the company's board.

  • LinkedIn  
  • Google plus  
  • Save this article  

More on Australasia

Latest News

world-hands-globe-climate-esg
Asian GPs slow implementation of ESG policies - survey

Asia-based private equity firms are assigning more dedicated resources to environment, social, and governance (ESG) programmes, but policy changes have slowed in the past 12 months, in part due to concerns raised internally and by LPs, according to a...

  • GPs