Posted byStrait Lane
DALLAS, TX – May 16, 2023 – Strait Lane Capital Partners, LLC (“Strait Lane”), a family-owned private investment firm, is pleased to announce that SLCP Holdings, LLC (“Holdings”) has acquired PepWear, LLC (“PepWear”). This acquisition follows Holding’s acquisition of PXP Solutions, LLC (“PXP”), an apparel decorator, in January 2023. In conjunction with the transaction, Holdings executed a new senior credit facility provided by East West Bank.
PepWear’s Chief Executive Officer, Craig Johnson said, “I am thrilled to partner with Strait Lane, and I, along with the entire PepWear management team, remain very optimistic for the future of PepWear. Strait Lane’s strategic, operational, and financial acumen will be of great value as PepWear continues to grow. We are excited to execute various operational efficiencies, along with organically growing the business through new strategic partnerships with premier youth activities organizations. Additionally, we are just as excited to work with PXP, who we view as a partner in providing the highest quality apparel, first-class decorating services, and an unmatched event merchandising experience to our customers.”
“We are pleased to welcome Craig and the PepWear team to the Strait Lane family”, said Blake Lawrence, Director, Strait Lane. Mr. Lawrence continued, “PepWear has built an amazing technology platform, broadened its geographical footprint, and increased top-line growth through the addition of various end-markets and customers. They’ve built an efficient organization that is primed for growth. We are excited to get to work and execute on our shared vision for the company.”
“Holdings is building a top-tier platform of apparel decorators that serves a broad range of end-users,” said Preston Edwards, Managing Director, Strait Lane. Mr. Edwards continued, “PXP and PepWear will serve as foundational pillars for this platform, serving the promotional and youth activities spaces, respectively. We are confident that PXP and PepWear will leverage their respective decorating capabilities to augment their service offerings and we will continue to pursue complementary acquisitions as we further expand our footprint in the fragmented apparel decorating industry.”
About PepWear, LLC
PepWear LLC, headquartered in Cedar Hill, Texas, offers an omnichannel merchandising experience through licenses with premier state and national-level youth activity organizations. Known for its high-quality apparel manufacturing and decorating capabilities, and delivery of its unique onsite merchandising experience, PepWear attends more than 800 events each year across 40 states selling apparel and other licensed merchandise.
PepWear is the best-in-class event merchandiser in the US focused on commemorating youth achievement, holding a dominant market share in both the high school athletics and music event sales spaces. Since our start over 30 years ago, a culture of service, integrity, and learning has been built into everything we do. We make it our aim to deliver the best customer experience possible. Continuous improvement is in our DNA.
About PXP Solutions, LLC
PXP Solutions LLC, headquartered in Dallas, Texas, is a world leader in apparel, merchandising, and branding. Known for our large format printing capabilities, fashion-forward graphic design, and innovative special effects, PXP offers a complete finishing and fulfillment operation. PXP works with a network of distributors to serve various clients spanning local restaurants to Fortune 500 companies.
Three words best describe PXP Solutions: Quality, Service, and Innovation. We strive to ensure that every event, every product, and every promotion receives the highest grade of excellence. With cutting-edge in-house capabilities ranging from graphic design, printing, and sourcing to fulfillment and distribution, we are truly a vertically integrated manufacturer.
About Strait Lane Capital Partners
Strait Lane is a Dallas-based, family-owned private investment firm. Founded in 2009 by veteran executives Mark King and Warren Edwards, Strait Lane pursues investments in targeted industries in which the principals of the firm have significant operating and investing experience. Strait Lane employs a buy-and-build investment approach over a longer-term investment horizon, creating value by helping companies grow organically and through acquisitions.
About East West Bank
East West Bank is the largest independent bank headquartered in Southern California, with more than 120 locations in the United States and abroad. Their markets in the United States include California, Georgia, Illinois, Massachusetts, Nevada, New York, Texas, and Washington. For 50 years, East West Bank has been committed to building bridges of opportunity by providing financial services that help their customers and communities reach further. For more information on East West Bank, visit www.eastwestbank.com.