To provide women the highest quality of clothes at great values
Versa Capital Management, LLC announced that an affiliate has acquired Alex Apparel Group, a leading designer and wholesaler of better and moderate-priced social dresses and separates under the Alex Evenings, SL Fashions and Ignite Evenings brands, from Atlantic Street Capital.
Versa Capital Management, LLC is a private equity investment firm focused on control investments in special situations involving middle market companies and their management teams. Versa focuses on businesses in a diverse array of industries where value and performance growth can be achieved through enhanced strategic, operational and financial management.
The Alex Apparel Group brands, known for their elegant, classic styling, combined with consistent fit and comfort, are sold both online and in over 3,400 retail locations, including major department stores, specialty store chains and boutiques and pure-play e-commerce sites.
Great values for clothes
Colleen Kelly, Chief Executive Officer of Alex Apparel, said: “We are excited to partner with Versa to continue the strong trajectory of our business. Versa provides us with the tools and resources to advance our strategy underpinned by our longstanding commitment to providing women with high quality classic-social eveningwear that accentuates their beauty.”
Greg Segall, CEO of Versa Capital stated, “We are very pleased to invest alongside management in this promising market leader in a specialized, attractive product category. Over the past several years, Colleen and her team have been repositioning Alex’s brands, improving product design, growing existing customer revenue and implementing best practices in sourcing and production. We look forward to working with the Alex Apparel team to capitalize on the numerous growth opportunities from increased direct engagement with end-customers, greater sales channel diversification, and potential strategic acquisitions.”