Backcast Partners Boosts Ballet Makers Acquisition Efforts
Backcast Partners, a prominent provider of debt and equity capital focused on middle-market companies, is excited to highlight its latest investment. This investment supports the acquisition of Ballet Makers Inc., known widely as Capezio, by Argand Partners LP, a distinguished private equity firm specializing in middle-market investments. Backcast has efficiently structured and agented Capezio's senior secured debt along with its preferred equity to facilitate this pivotal transition.
Founded in 1887, Capezio stands out as a renowned manufacturer of dance shoes and related apparel, encompassing footwear, bodywear, legwear, and various accessories. This iconic company has been nurtured by the Terlizzi and Giacoio families for almost 140 years. Importantly, both families will continue to hold ownership shares in the company as it moves forward into a new chapter. Notably, several key members from these families, including CEO Michael Terlizzi, will remain actively involved in the company, reinforcing continuity while overseeing innovation.
Michael Terlizzi expressed enthusiasm about partnering with Backcast Partners, acknowledging their profound understanding of Capezio’s business intricacies and the distinct value embedded within the brand. He noted, "The financing solution provided by Backcast is instrumental in positioning us for future growth, and we are eager to seize new opportunities ahead." This collaborative approach underscores Backcast’s commitment to nurturing and empowering businesses within the dance apparel industry.
Joyce Schnoedl, a partner at Argand, emphasized the positive experience working alongside Backcast. She highlighted their capacity to deliver flexible capital solutions while acting as a value-added partner. This combination of responsiveness and innovative problem-solving was crucial in closing the complex transaction effectively.
Mark Gudis, Managing Partner at Backcast, also shared insights into the investment strategy. He remarked, "Our comprehensive capital solutions reflect our confidence in Capezio's solid brand reputation and its leading position within the dance sector. The experienced and dedicated leadership team accounts for much of this confidence, as does our belief in Argand as a knowledgeable partner. We are excited to play a pivotal role in Capezio's journey forward."
Backcast was represented in this significant transaction by McGuireWoods LLP, further reinforcing the professional integrity and knowledge that both parties brought to the table.
About Backcast Partners
Backcast Partners, established in 2016, is dedicated to managing value-additive, credit-focused private investment funds that provide essential capital to both private-equity-backed entities and privately held management-owned firms. With approximately $1.3 billion in assets under management, Backcast has a history of supporting traditional middle-market companies with EBITDA ranging from $7.5 million to $50 million. The firm’s flexible capital mandate allows for investments ranging from $20 million to $150 million per transaction, ensuring tailored solutions for diverse business needs. The Backcast team operates from offices in New York City and Millburn, NJ.
If your company seeks capital solutions, please reach out to Mark Gudis, the Managing Partner at Backcast. You can contact him at (973) 512-7487 for personalized assistance.
For investor-related inquiries, connect with David Petrucco, Managing Partner, at (973) 512-7482, who is available to discuss investment opportunities and competitive positioning in the market.
Frequently Asked Questions
What is the recent investment by Backcast Partners?
Backcast Partners has made a significant investment supporting the acquisition of Ballet Makers Inc. (Capezio) by Argand Partners LP.
Who are the key figures in Capezio's leadership?
Michael Terlizzi, CEO of Capezio, and family members from the Terlizzi and Giacoio families will remain actively involved in the company.
What's the significance of this acquisition for Capezio?
This acquisition is expected to provide Capezio with enhanced resources and strategic guidance to pursue growth opportunities within the dance apparel sector.
How does Backcast Partners support middle-market companies?
Backcast Partners offers debt and equity capital, delivering flexible financial solutions tailored to the unique needs of middle-market firms.
In what sectors does Backcast typically invest?
Backcast invests in a variety of sectors within the middle market, focusing on companies with EBITDA between $7.5 million and $50 million.
