Brand Velocity Partners, a startup private equity firm based in Greenwich, has announced its first acquisition with the purchase of Original Footwear Inc., a provider of military and law enforcement footwear. The terms of the transaction were not disclosed.
Founded in 1999 and headquartered in Morristown, Tennessee, Original Footwear offers products under the Altama, Original S.W.A.T. and Smith & Wesson brands. The company recently expanded into the consumer footwear market with Urban Assault, a lighter weight variation on its Altama brand of military boots.
BVP, which was founded last year, teamed with three financial services companies to complete the transaction: Boston private equity fund BPEA, Nashville bank Pinnacle Financial Partners, and Chicago small business investment company fund Invision Capital.
“There is a yawning gap in the marketplace for a PE firm to do more than financial engineering,” said Steve Lebowitz, managing partner of BVP. “Great consumer companies are not built through spreadsheets, but rather through excellent products and superior marketing.
“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,” he said.