KKR & Co. (KKR) Leads Debt Financing for Galaxy Universal Acquisition of And1, Avia, Gaiam and SPRI

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Today, Galaxy Universal, LLC (“Galaxy” or the “Company”), a holding company of Gainline Capital Partners (“Gainline”), announced that it has agreed to acquire the brands And1, Avia, Gaiam and SPRI (together the “Active Brands”) of Sequential Brands Group, Inc. (“Sequential”) for approximately $ 330 million. The transaction is subject to satisfaction or waiver of customary closing conditions, including court approval, and is expected to close by mid-November 2021.

This transaction is a continuation of Galaxy’s strategy of vertically integrating strong brands under a single management operation that controls marketing, design, sales, sourcing and manufacturing. This unique platform will create efficiencies to provide its customers with high quality sports, work and outdoor products at the best value for money.

Galaxy is led by CEO Eddie Esses, a veteran of the footwear industry and brand management. “In this ever-changing market, we are strategically positioned to meet the ever-changing customer expectations. Galaxy is able to deliver top brands, unique designs and improved quality at exceptional values, ”Esses said.

Galaxy is expanding rapidly and continues to rely on its vertical platform. This spring, the company completed the acquisition of Apex Global Brands, including Hi-Tec, Magnum and Tony Hawk. It also has licensing deals with big brands like Justice, London Fog and many more.

Allan Weinstein, Managing Partner of Gainline, said: “The rich heritage of these brands combined with the passion, experience and unmatched track record of Mr. Esses and his team sets this investment apart. We are excited to support this team and move the Galaxy partnership forward. as the business grows and future acquisition opportunities arise. “

KKR led the debt financing of the acquisition and will participate as a co-investor. “Galaxy’s vertical integration strategy and its strong specialization in active products position the company to take these great brands to new heights,” said Lauren Krueger, Managing Director of KKR. “We are delighted to fund the transaction and invest in the future of the business as a strategic partner with the Galaxy and Gainline teams.”


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