Charlesbank Capital Partners LLC has bought promotion gift products distributor Polyconcept from Investcorp and 3i Group. Financial terms were not disclosed.

Polyconcept supplies promotional gifts, such as bags and shirts, mostly to businesses. The Pittsburgh-based target, founded in 1973, has more than 35,000 customers across the U.S. and Europe. In a recent similar deal, Audax Private Equity purchased Halo Branded Solutions.

“With Charlesbank’s financial support, strategic guidance and significant network of contacts, we look forward to working together to create substantial value for the future,” says Polyconcept CEO Gene Colleran. Charlesbank has global growth plans for the target.

Charlesbank is based in Boston and typically invests $50 million to $150 million per transaction. Earlier in 2016, the PE firm bought sports apparel retailer Lids Team Sports from Genesco Inc. (NYSE: GCO).

Jefferies and Goodwin Procter advised Charlesbank. William Blair and Barclays advised the sellers. Goldman Sachs Bank USA, RBC Capital Markets, Natixis and GSO Capital Partners LP provided financing. 

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