Palladin Consumer Retail Partners has acquired footwear specialty chain Aerosoles for an undisclosed amount.
The acquisition includes the Aerosoles brands Aerosoles, A2, Aerology and What’s What.
Based in Edison, N.J., the specialty chain known for its proprietary comfort technologies will continue to be led by chief executive officer Jules Schneider, who retains a substantial ownership position in the company.
Schneider said, “The Palladin team brings a wealth of experience in footwear and growing consumer brands and being able to work with them marks a critical next step in our growth strategy.”
Palladin, led by ceo Mark Schwartz and operating partner Caryn Lerner, will assist Aerosoles in strengthening its go-to-market strategy.
According to Schwartz, the two parties have collaborated on new initiatives in branding, store design, merchandising, product development and both e-commerce and mobile commerce.
“We are excited to partner with Jules and the entire Aerosoles team.…We are confident that, with additional capital, expertise and initiatives, we will be able to significantly expand Aerosoles’ positioning and distribution in domestic and international markets, including accelerating the growth of it retail network,” Schwartz said.
In addition, the equity capital provided by Palladin will allow Aerosoles to continue its focus on its proprietary technologies.
“We intend to build on the company’s tremendous resources, especially in product design and development, to enhance the customer experience in every distribution channel — retail, wholesale and e/m-commerce. Our creative and design teams already are working with the company and we expect to introduce new concepts to the market as the year progresses,” Lerner said.
Founded in 1987, Aerosoles is sold in 30 countries and has 4,000 doors globally. In the U.S., the brand is sold in major retailers, its own online Web site and at 120 retail and outlet locations.
Palladin, formerly known as Palladin Capital Group, was founded in 1998. Current and former investments include Nic + Zoe, J. McLaughlin, Andrew Marc and Restoration Hardware. Its senior executive team members have previously held positions at companies such as Arnotts in Ireland, Gordon Brothers, Nine West, Holt Renfrew and Escada.
Consensus Advisors was financial adviser to Aerosoles. Wells Fargo Bank N.A. and THL Credit Inc. provided debt financing for the transaction.