Intrepid today announced that it served as the exclusive financial advisor to Lifted Research Group, Inc. (LRG), a leading designer and producer of clothing and accessories in the streetwear industry, on its sale to Mad Engine, LLC, a leading global licensed apparel wholesaler. Founded in 1999 on the vision of bridging action sports, hip-hop, and art, LRG has become a globally recognized brand in the streetwear category.
“LRG was the first brand to blend the previously segregated genres of art, skate, fashion, and music. This celebration of diverse interest and lifestyles has come together to create a mainstay brand,” said Marvin Padilla, Head of the Apparel & Retail practice at Intrepid. “We were thrilled to advise the LRG team on its sale process and help them achieve a new partnership that will maintain the brand’s authenticity while supporting the future growth of the company.” “Intrepid ran a highly effective process,” said Danish Gajiani, CEO of Mad Engine. “Intrepid’s knowledge of the sector and deep understanding of the LRG business provided a seamless transaction for the Mad Engine team.”
“In the months that we have spent getting to know each other, Mad Engine has shown a commitment to LRG’s future. I am optimistic about this new chapter which creates the ability to grow the LRG brand and creates new opportunities and experiences for those involved,” said LRG Co-Founder Robert Wright. “Further, Intrepid’s Apparel & Retail investment banking team was an invaluable advisor to us as we sought a partner that could provide us with value-added resources and capital commitments to continue accelerating the company’s growth,” added Robert. “We are excited to join the Mad Engine family.”
LRG was founded as a streetwear brand in 1999 by Jonas Bevacqua and Robert Wright. With headquarters in Irvine, Calif., the company is a leading designer and producer of graphic tees, fashion knits, woven bottoms, outerwear, and accessories. The company is also involved in the promotion of underground musicians and street artists. In 2006, Entrepreneur magazine ranked the company 5th on its “Hot 500” list of fastest-growing companies. LRG currently sells through department stores, direct-to-consumer, online retailers, and select boutiques.
Founded in 1987, Mad Engine has grown to become a leading global licensed apparel wholesaler. Top brands include Marvel, Star Wars, Disney, and Nickelodeon. The company’s footprint spans multiple continents, with unique locations dedicated to customer service, manufacturing, quality assurance and distribution.
Deal Team Contacts
Marvin Padilla, Managing Director and Head of Apparel & Retail
About Intrepid’s Apparel & Retail Practice
Intrepid’s Apparel & Retail practice combines decades of experience assisting retail, apparel, accessories, and footwear companies with expert execution in various transaction types, including capital raises, mergers, acquisitions, and divestitures. We maintain deep relationships with strategic acquirers, private equity investors and leading executives active in the industry.
Erica Gunn, Marketing Specialist