2XU and Lazard Australia Private Equity pleased to announce they are partnering with L Capital Asia.

2XU and Lazard Australia Private Equity pleased to announce they are partnering with L Capital Asia.

2XU and Lazard Australia Private Equity Pty Ltd (Lazard Private Equity) are pleased to announce a new partnership with L Capital Asia 2 (L Capital Asia), a private equity fund sponsored by LVMH Moët Hennessy Louis Vuitton S.A. (LVMH), Groupe Arnault and YTL Corporation Berhard.

2XU and Lazard Australia Private Equity Pty Ltd (Lazard Private Equity) are pleased to announce a new partnership with L Capital Asia 2 (L Capital Asia), a private equity fund sponsored by LVMH Moët Hennessy Louis Vuitton S.A. (LVMH), Groupe Arnault and YTL Corporation Berhard. L Capital Asia has invested alongside the founder shareholders and Lazard Private Equity through its acquisition of a 40% interest in 2XU, Australia’s preeminent performance sports brand.

2XU is a market leading high performance sports brand with benchmark products in the rapidly growing technical sportswear market. It is one of Australia’s most innovative companies, using cutting-edge fabrics and technology developed to enhance sports performance and recovery. 2XU’s products are renowned for their quality and as such are used by numerous elite athletes around the world including the Australian Institute of Sport, together with many leading NBA and NFL stars across North America.

Founded in Melbourne in 2005, 2XU has built a scalable, global distribution network that covers more than 50 countries. 2XU has achieved strong financial performance over the past five years with revenue growth in excess of 40% per annum, and is still in the infancy of its growth potential.

As part of the next phase of growth, 2XU and Lazard Private Equity selected L Capital Asia as an equity partner with a shared vision. L Capital Asia will be able to provide 2XU with a valuable consumer markets understanding and access to global markets, through their extensive network and the LVMH Group.

2XU Executive Chairman and Co-Founder, Clyde Davenport, said, “We are thrilled to have L Capital Asia as a partner. We believe that its experienced international team will accelerate us towards our goal of becoming Australia's first major global sportswear brand."

Managing Partner of L Capital Asia, Ravi Thakran, said “We are delighted to partner with the founders, management and Lazard Private Equity on 2XU’s exciting journey. 2XU signifies a winning proposition of best in class product preferred by Pros across varied sports, with design and innovation rooted in Australia, one of the world's most active countries, coupled with an extremely passionate and driven management team. We firmly believe that the combination of this strong proposition, with our unique approach to performance enhancement across our portfolio companies will help the brand in achieving its full potential as a strong, globally recognised performance sportswear brand."

Director of Lazard Private Equity, Gareth Young, said “Lazard Private Equity has enjoyed a successful partnership with 2XU since 2011 during which time the business has doubled its turnover, profit and been highly cash generative. This transaction delivers to our Fund 2 investors a money multiple return and IRR in excess of 2x and 50% respectively. We selected L Capital Asia as a like-minded and value-adding partner which can strengthen 2XU’s global growth plan.”

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