Ropes & Gray Advises CCMP Capital in Badger Sportswear Acquisition
Ropes & Gray represented CCMP Capital Advisors, LP in its definitive agreement under which affiliates of CCMP will acquire a controlling interest in Badger Sportswear. Badger, based in Statesville, N.C., is a leading family-owned manufacturer and supplier of high-quality team uniforms, performance athletic wear and fan wear at value prices for youth and adult athletes. Badger’s founders, Jerry and Bill Carr, will reinvest a significant portion of their equity as part of the deal. New York-based CCMP specializes in middle-market buyouts and growth equity investments in North America and Europe, investing primarily in the consumer, industrial and health care industries.
The transaction was announced Aug. 23 and is expected to close in September, subject to customary closing conditions. Terms of the deal were not disclosed.
The Ropes & Gray team advising CCMP was led by private equity partners David Blittner and Garrett Charon (both of New York) and included finance partner Jay Kim (New York); tax partner Leo Arnaboldi (New York); executive compensation & employee benefits partner Alexandra Alperovich (New York); and antitrust counsel Deidre Johnson (Boston).