Article originally posted by Sentinel Partners on November 15, 2022.
Sentinel Capital Partners, a private equity firm that invests in promising midmarket companies, today announced the acquisition of L2 Brands, a leading designer, manufacturer, and marketer of custom apparel and headwear for the collegiate, destination and leisure, and corporate markets. Financial terms of the deal were not disclosed.
With a heritage dating back more than 30 years, L2 Brands creates customized products that connect consumers with the schools, destinations, and traditions they love. Since its founding in 1991, L2 Brands has grown into a diversified business with a successful history of long-term profitable growth. L2’s two brands—League and Legacy—offer widely recognized lines of premium apparel and headwear.
“L2 has a three-decade reputation for offering leading brands, excellent customer service, and high-quality products,” said Sentinel Partner John Van Sickle. “Sentinel is excited to partner with L2 and its talented management team for its next chapter of growth.”
League was founded in 1991 and draws its brand inspiration from the All-American lifestyle. Legacy was launched one year later and has become the brand of choice in customized headwear and winter knits. These brands include more than 150 styles for men and women that are sold into the collegiate, destination and leisure, and corporate markets. L2 is known for its best-in-class design, decoration, and customization capabilities, premium product assortment, and ability to offer a one-stop-shop solution for customers.
L2’s success is rooted in operational excellence and a strong corporate culture nurtured by a deeply experienced senior executive team. L2 produces many of its products in-house and also works with sourcing partners with whom it has long-term, stable partnerships. L2 has built a fully-integrated production process from design to customer shipment, which has resulted in high efficiency and an elevated customer experience. With key manufacturing facilities in Hanover, Pennsylvania and San Salvador, El Salvador, L2’s operations are highly scalable and offer customers a reliable nearshore supply chain.
“I am incredibly proud of the brand stewardship, operational excellence, and passionate team that we have built at L2,” said Legacy founder and L2 CEO Paige Wingert. “Our company is well-positioned to capitalize on its differentiated business model and the strong and sustainable momentum we enjoy in our markets.”
“We are excited to partner with Sentinel for the next phase of L2’s journey,” said L2 President Pete Waldron. Added Waldron, “Sentinel’s proven experience and outstanding record working with similar consumer businesses will enable us to accelerate our growth.”
Sentinel has previously made significant investments in the consumer products and specialty apparel sector, including Careismatic Brands (formerly Strategic Partners; a leading provider of scrubs and medical uniforms), GSM Outdoors (leading provider of branded products for the hunting, sport shooting, and outdoor enthusiast market), Holley Performance Products(leading provider of high-performance automotive aftermarket products for car and truck enthusiasts), and RefrigiWear (leading provider of industrial workwear for low temperature environments).