Brand Velocity Partners (BVP), a private equity firm focused on acquiring lower-middle market consumer businesses in search of marketing muscle, has announced that it has purchased Original Footwear. Original Footwear is globally known for its military and law enforcement footwear and is now an expanded line of consumer active and fashion footwear.
This is the first deal consummated by BVP, a firm founded in 2019 and run by partners with deep experience in both PE and brand marketing, the company said in a press release.
“Over the past 50 years, Original Footwear’s brands, including Altama, have become an integral part of Americana for many both in and outside of the military and law enforcement. We are thrilled that the Original Footwear family will leverage BVP’s incredible marketing tools to together expand our global business in the years ahead,” Kevin Cole, founder and CEO of Original Footwear said.
“There is a yawning gap in the marketplace for a private equity firm to do more than financial engineering – great consumer companies are not built through spreadsheets, but rather through excellent products and superior marketing. My partners and I bring together the perfect blend of capital, investment acumen, and brand marketing expertise. We will be bringing the full weight of our capabilities to the fore with Original Footwear as well as other acquisitions that fit into our firm’s profile,” Steve Lebowitz, managing partner of BVP and former co-founder and managing partner of Topspin Partners said.
Also participating in the transaction were Pinnacle Financial Partners, a leading regional bank headquartered in Nashville, and Invision Capital, an SBIC fund based in Chicago.
Fibre2Fashion News Desk (GK)