TEAM Partners Tees Up Recapitalization of Nexbelt
News provided byTEAM Partners
May 11, 2022, 2:00 PM ET
DALLAS, May 11, 2022 (GLOBE NEWSWIRE) -- TEAM Partners, LLC, a Dallas-based private investment firm, announced that it has completed a recapitalization of Nexbelt, LLC ("Nexbelt" or the "Company") in partnership with the Company's founders. Financial terms of the transaction were not disclosed.
Nexbelt, based in Rancho Cucamonga, CA, is one of the originators of the ratchet belt in the U.S. The Company provides a patented, "cut to fit" belt with no holes using high-quality materials and unique, innovative designs. Nexbelt makes stylish belts for fashion-conscious enthusiasts focused on golf, outdoors, everyday carry, dress and casual wear. Nexbelt's products are sold through its own website, premier golf courses throughout the U.S., leading independent local and regional retailers, enthusiast-oriented stores, and other online partners.
The unique ratcheting system allows wearers to adjust the belts in ¼-inch increments and provides the best feel, fit, and fashion available. The golf line includes popular series such as Go-In!, Fast Eddie, Braided, and Newport, as well as the ability to customize with individual logos or brands. Over 40 professional golfers wear Nexbelt products, including Jim Furyk, Kevin Na, and Marc Leishman.
The hunting and outdoor line utilizes the same quality ratchet system but is constructed out of premium nylon material that is durable, versatile, and highly functional for holding tactical accessories. Popular series for this line include the Supreme and Titan.
Eddie Rowland, co-founder, commented, "More than a dozen years ago, I was on a family trip in Asia and saw the concept. I knew we could deliver a premium quality, next-generation belt that would be superior to any other option on the market. We are incredibly proud of what we have built to this point and are embarking on an exciting 2022 with seven new products. The Company is thrilled to partner with a top-tier financial group to accelerate our growth and allow Nexbelt to reach its full potential."
"It is not often that you have an opportunity to invest with such high-caliber people who deliver a superior product and value proposition to consumers," said David Mann, Managing Partner of TEAM Partners. "Nexbelt is a gem of a company and fits the key criteria that we seek in new platform investments - family-owned, owner-operated business with a differentiated product and a compelling macro growth thesis. We could not be more excited to partner with Eddie, Francis, Tom, and the rest of the Nexbelt team."
Nexbelt is a leading provider of ratchet belts and accessories in the U.S. The company has a comprehensive selection of premium-quality belts targeting enthusiasts in golf, hunting, outdoors, and everyday wear. Please visit https://www.nexbelt.com.
About TEAM Partners, LLC
TEAM is a Dallas-based private investment firm that invests in profitable, family-owned and owner-operator businesses generally with up to $100 million in revenue. We focus on opportunities in which we can add value from our strategic, operational and financial resources. Since 2000, our principals have acquired more than 30 companies across numerous industries, including consumer products, industrial and business services. For additional information, please visit www.teampartnersllc.com.
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