Palladin Consumer Retail Partners LLC has acquired footwear company Aerosoles for an undisclosed amount.
Edison, New Jersey-based Aerosoles aims to create "attractive footwear enhanced with proprietary comfort technologies." The brand is sold in 30 different countries, in stores, online and at outlet locations. The company has 120 retail and outlet locations. The brand includes Aerosoles, A2, Aerology and What’s What. The deal was announced June 9.
Palladin plans to build up Aerosoles’ product designs. The private equity firm, formerly known as Palladin Capital Group, focuses on investing in retail and consumer brands. The firm’s current investments include KT Health LLC, a company that makes sports medicine products, which Palladin bought in January. Palladin teamed up with Bruckmann Rosser Sherril & Co. to form InMotion Entertainment Group, which bought the InMotion Entertainment, Soundbalance and Headphone Hub retail businesses in October.
Consensus Advisors and Golenbock Eiseman Assor Bell & Peskoe acted as financial advisers, while Latham & Watkins acted as Palladin’s legal adviser on the deal. Wells Fargo Bank NA and THL Credit Inc. provided debt financing for the transaction.
Other recent consumer goods and retail deals include BRG Sports Inc.’s acquisition of C-Preme Ltd., maker of protective helmets and sporting goods, and DSW Inc.’s (NYSE: DSW) purchase of a stake in Town Shoes, a Canadian shoe retailer.