DALLAS (2023) – Hext Capital Partners, LLC is pleased to announce it recently advised PepWear, LLC on the sale of substantially all of its membership units to an investor group led by Strait Lane Capital Partners. The transaction merged PepWear with an existing investment platform which includes PXP Solutions, LLC, an entity operating in the larger garment decorating market.
Founded in 1987, PepWear offers an omnichannel merchandising experience through licenses with premier state and national-level high school activity organizations at more than 700events across the country each year. PepWear manufactures its own line of apparel and has in-house screen-printing, embroidery, digital printing and plaque production capabilities. Their excellent partner relationships, unique merchandising, and advanced technology made them an ideal addition to the Strait Lane portfolio.
Warren Edwards, co-founder of Strait Lane, stated “Throughout our history, we have sought to invest in market-leading companies with sustainable competitive advantages, attractive growth opportunities, and strong operating capabilities. We believe PepWear fits that to a tee, and we could not be happier to partner with Craig and his team to shepherd in the next phase of growth.”
“We are excited to have found a partner in Strait Lane who shares our vision of providing an unmatched level of product quality and service to commemorate participant achievement.” said Craig Johnson CEO of PepWear. “With their support we hope to build something together that is greater than the sum of its parts.”
Simon Martin and Gabe Trotta led the transaction for Hext Capital and added, “We are grateful to have had the opportunity to represent Craig and the PepWear team in a successful transaction. We wish them the best as they work with Strait Lane to bring PepWear through its next phase of growth.”
Chrissi Hathaway with ExallLegal Advisors, PLLC served as seller’s counsel on the transaction.
