L Capital acquire 40% of 2XU, Lazard sees 2x multiple
L Capital, the private equity firm backed by luxury goods conglomerate LVMH, has acquired a 40% stake of 2XU, an Australian sports apparel brand, for a reported A$75 million ($68.3 million). The transaction represents a partial exit for previous backers Lazard Australia Private Equity generating a 2x money multiple.
Founded in Melbourne in 2005, 2XU is a maker of high performance sports clothing catering to the technical sportswear market for runners, swimmers, cyclists and triathletes. The firm has a global distribution...
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