MELBOURNE, AUSTRALIA -- Leading high performance sports apparel brand, 2XU, has announced the acquisition of its U.S. based distributor, Sports Multiplied LLC. Following a successful six year relationship with the west-coast based company, Australian owned 2XU has elected to invest directly in the US market and will spearhead all business operations under a new US based entity -- 2XU North America LLC.
In keeping with 2XU's ambitious growth targets for the US, the move comes after Lazard Private Equity's Lazard Australia Corporate Opportunity Fund 2 (Fund 2) acquired a significant minority interest in the brand. Representing another major step for 2XU, this transaction echoes the company's goal to dominate technical sports apparel markets across the globe.
For SM's founding partners Todd Schoelen, Richard Verney and Chris Sinkovich, the change represents the end of a successful era and a promising pathway for greater opportunity. Under the comprehensive deal, all former SM partners will retain critical senior management roles in 2XU North America LLC, together with their full staff of dedicated team members.
"Managing 2XU's US presence for the last six years has been a privilege, and we're thrilled to be a part of the next chapter," explained Schoelen. "More importantly, for our broad network of current 2XU retail, sales, event, marketing and other professional partners, it will be business as usual under the new 2XU North America LLC management, with the promise of greater scope."
"Thanks to the dedicated SM team, 2XU has made great strides in the US, and we look forward to the future," remarked 2XU Co-Founder and Director of Sales and Marketing Aidan Clarke.
2XU utilizes the latest in cutting-edge fabrics and technology, such as PWX(R), to enhance performance. The brand has become renowned for its incredible Compression collection as well as other impressive lines including Triathlon, Cycle, Run, Swim and women's Run-Fitness. 2XU is the choice of professional athletes, teams and associations not only in Australia and the United States, but across the globe.
2XU is proud to be an official apparel supplier to multiple sporting institutions where exacting standards are required for elite athletes. The brand's enviable partner portfolio includes the likes of Ironman, the BMC Racing Team, GreenEDGE Cycling, Golf Australia and many more. For more on 2XU, please visit www.2XU.com.