- Angela Gonzalez-Rodriguez
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New York – The lower-middle market specialised private equity firm Brand
Velocity Partners (BVP) announced on Tuesday it has acquired Original
Footwear Inc. for an undisclosed sum.
Investing alongside BVP in Original Footwear were BPEA, a Boston-based
private equity firm, Pinnacle Financial Partners, a regional bank
headquartered in Nashville, and Invision Capital, an SBIC fund based in
Chicago.
Original Footwear, with its Altama and Original S.W.A.T. brands, is the
first deal consummated by BVP, a firm founded in 2019. Original Footwear
specialises on military and law enforcement footwear. The speciality
retailer advanced in the corporate release announcing the investment that
it will soon branch out into consumer active and fashion footwear.
Commenting the deal, Kevin Cole, founder and CEO of Original Footwear,
said, “Over the past 50 years, Original Footwear’s brands, including
Altama, have become an integral part of Americana for many both in and
outside of the military and law enforcement. We are thrilled that the
Original Footwear family will leverage BVP’s incredible marketing tools to
together expand our global business in the years ahead.”
“There is a yawning gap in the marketplace for a PE firm to do more than
financial engineering – great consumer companies are not built through
spreadsheets, but rather through excellent products and superior marketing.
My partners and I bring together the perfect blend of capital, investment
acumen, and brand marketing expertise. We will be bringing the full weight
of our capabilities to the fore with Original Footwear as well as other
acquisitions that fit into our firm’s profile,” added Steve Lebowitz,
managing partner of BVP and former co-founder and managing partner of
Topspin Partners.
