Broad Sky Partners, a New York City-based private equity firm, has invested in Fair Harbor, a sustainable beachwear company. This investment is Fair Harbor’s first institutional capital. The financial terms of the transaction were not disclosed.

Fair Harbor was founded in 2014 by siblings Jake and Caroline Danehy to produce an environmentally friendly lifestyle brand. Fair Harbor will use the investment to expand new product lines, sustainability initiatives, and retail channels. Broad Sky Partners focuses on investing in middle-market businesses.

“We immediately felt a natural connection with the Broad Sky team,” said Fair Harbor founders Jake and Caroline Danehy. “They have incredible experience in the consumer space, along with dedicated operating resources. We are confident that the combination of these will help us take Fair Harbor to the next level and work towards our ambition to become the next great American heritage brand.”

Raymond James acted as financial advisor and Morrison Cohen LLP provided legal advice to Broad Sky. PricewaterhouseCoopers Corporate Finance LLC served as financial advisor and Orrick Herrington & Sutcliffe LLP acted as legal advisor to Fair Harbor.