2XU secures investment from private equity firm
Australian sports apparel brand, 2XU, has secured a new partner, asset management firm Lazard Australia Private Equity Pty Ltd. The private equity firm’s recently established Lazard Australia Corporate Opportunity Fund 2 has acquired a significant minority interest in 2XU.
The transaction represents a significant point for 2XU and will aid the company’s goal to dominate the technical sports apparel market.
“2XU is determined to be Australia’s first global sportswear power brand,” said 2XU executive chairman and founder, Clyde Davenport. “With Lazard Private Equity’s expertise and involvement we believe we will accelerate this ambition. We are thrilled with the new support from Lazard Private Equity.”
“We are delighted to partner with 2XU in their next growth phase,” said Lindsay Phillips, head of Lazard Private Equity. “2XU is an attractive investment proposition for us due to the market leading position of the brand as well as the strength and ambition of the management team.”
