NEWS & PRESS
WEBSTER CAPITAL ACQUIRES MONDETTA
Waltham, MA (May 12, 2015) -- Webster Capital is pleased to announce that it has partnered with the management of Mondetta Canada, Inc. to acquire a stake in the Canadian apparel company.
Mondetta offers a performance line of fashionable active apparel under the brand MPG (Mondetta Performance Gear). MPG is an athletic and outerwear brand that was designed to offer multi-sport athletes gear that combines performance, fashion and comfort. It is primarily available in retailers in the U.S. and Canada as well as online at www.mpgsport.com.
The Company is headquartered in Winnipeg, Manitoba and is a leading designer and supplier of diversified athleticwear and casual apparel under both the Mondetta and MPG brands. Additionally, the Company also provides private label design and sourcing solutions to branded apparel companies in the U.S. and Canada.
"We are excited about the opportunity to work with a leading established company in the activewear industry," said Donald Steiner, Webster Capital Managing Partner. "We think the MPG brand offers a differentiated product line to what is currently available on the market in that it combines both quality performance fabrics with leading fashion styles. MPG is well-poised to take advantage of the continuing growth in consumer demand for elevated active and casualwear. We look forward to working with Mondetta's management to support customer relationships and grow MPG's presence."
Co-founder and CEO, Ash Modha, said "We are looking forward to working with Webster Capital. Besides their financial acumen, the Webster team brings to the table a group of individuals who understands the consumer product space, and more importantly, the changing face of retail and the distribution strategies around it. Our experience in structuring this transaction has only reinforced how our values and synergies line up."
KPMG acted as exclusive financial adviser to the Company in connection with the transaction. Aikins, MacAulay & Thorvaldson LLP acted as legal advisor to the Company and Goodwin Procter LLP acted as legal advisor to Webster Capital.
About Webster Capital
Founded in 2003, Webster Capital is a private equity firm with over $600 million of committed capital which invests in the branded consumer and healthcare services industries. Webster focuses on companies with transaction values between $30 - $100 million. Webster Capital provides equity financing, expertise and a broad contact network for management buyouts and growth capital.
About Mondetta Canada, Inc.
After three decades in business, Mondetta has evolved from a specialty purveyor of iconic flag inspired fashion promoting global unity to an established collection of ever-expanding sports-casual wear, activewear (MPG) and accessories. The Company sells its apparel through retailers globally under its own brands, Mondetta and MPG as well as through MPG branded stores in Canada and South Korea. It also provides branding solutions to a diverse array of private label clients. For additional information on Mondetta please visit www.mondetta.com.