Kansas City, Missouri – January 7, 2022 – CPC, LLC announced that it has completed the acquisition of Paramount Apparel International (“Paramount”) from the company’s founding families. Founded in 1929, Paramount’s Imperial brand is the established market leader in embellished golf headwear and apparel, currently featured in 97 of the top 100 golf pro-shops. Over the last two decades, the Company has used its extensive creative design, procurement, and fulfillment capabilities to expand its Global Brand Solutions (“GBS”) division. GBS offers a suite of capabilities to apparel brands seeking to deliver headwear and apparel on a quick turn basis. Based in Bourbon, Missouri, the Company employs over five hundred people across its six facilities and will continue to be led by its current management team.
This subsidiary acquisition is the first for CPC, LLC, a permanent investment vehicle recently formed to buy, build, and hold businesses with a long-term, indefinite, time horizon. “It’s been clear from day one that Paramount’s unique approach, excellent team, and strong culture were a direct reflection of the long and storied history of this business. As new owners, we are buying this business to build it and keep it for the long term, with no intention to sell in the typical 5-7 year time horizon,” commented Wiley Curran, Chairman of CPC. As part of the Paramount acquisition, the Paramount’s founding families retained ownership at both the Paramount level and received an ownership interest in CPC, LLC. “We are excited to welcome CPC into our 92-year old history at Paramount, but also to join CPC in their new business. We believe both will be strong investments for our families well into the future” explained Bruce Levinson, Mark Rubenstein, and Alex Levinson in a joint statement. For Paramount, the acquisition brings resources and expertise for continued growth in both the Imperial and GBS business lines. Paramount CEO Todd Johnson added, “Our team deeply aligns with CPC on the keys to success, and I am excited to be an owner in the future of this great business.”
About CPC
CPC is a permanent investment vehicle organized as a company, not a fund – a structure that enables CPC to implement the best strategies to create defensible, long-term value aligning the incentives of shareholders, management, and all stakeholders in CPC’s businesses. Sustainable competitive advantage derives from long-term investments in innovation, workforce development, the adoption of new technologies, and supply chain improvements.
CPC has many unique traits that we believe differentiates it from traditional private equity firms. CPC is owned by large family offices and successful entrepreneurs that are collectively aligned around long-term decision making and wealth creation. CPC was formed from the merging of Curran Companies’ and C3 Capital’s management teams. CPC seeks to deploy at least $500MM into lower middle market businesses over the next five years. It does not use enterprise leverage to fund acquisitions, instead focusing management teams to excel in what CPC calls the Five Key Battles: People, Systems and Processes, Execution, Customer Intimacy, and Product Leadership. Prior to forming CPC, the management team has invested in over 100 businesses covering a wide variety of industries. CPC’s website can be found at CPC.LLC and any inquiries can be directed to abutler@cpc.llc.
About Paramount
Founded as a headwear manufacturer in 1929, Paramount has evolved into a diversified apparel, headwear, and accessories company under the Imperial and Global Brand Solutions brands. Paramount is known for quality craftsmanship, strong leadership, and a great ability to forecast market needs. As a privately held company led by the third and fourth generation of the founding family, Paramount continues to offer renowned customer service and instills pride in everything it does.
Integris Partners provided sell-side representation for Paramount. Polsinelli and Stinson, LLP provided legal representation for the buyers and sellers respectively.