New York private equity firm Bregal Partners has set aside $100 million for deals in niche consumer brands, such as outdoor sports brands.
As part of the commitment, Michael Magerman will join Bregal as a senior adviser. Magerman was previously chief executive of three separate consumer goods companies, including Odyssey Sports, a golf company that he founded in 1990; Bravo Sports, a lifestyle and outdoor goods company; and Quickie Manufacturing, a maker of cleaning tools.
The $100 million will go towards future investments in "companies with authentic brands that resonate with passionate and highly-involved consumers," according to a prepared statement.
The news follows Berkshire Partners LLC's announcement in April to commit $350 million towards future retail and consumer goods investments. The Boston private equity firm plans to co-invest in the companies with newly-formed investment firm Front Row Partners LLC.
Bregal's recent investments include Shock Doctor Inc., which makes athletic products for hockey, football, baseball and other sports, and purchase of assets from Ceiba Energy Services Inc. and Phyllis Disposal Ltd.