AFI PARTNERS FORMS EUROPA SPORTS PARTNERS
AFI Partners, LLC (“AFI”), a New York based private equity firm, is pleased to announce the formation of a new company, Europa Sports Partners, LLC (“ESP”). On May 20, 2021, AFI and its affiliates acquired certain of the operating assets, including the brand names and website, of Europa Sports Products, LLC (“Products”). Additionally, AFI has invested significant capital to build ESP’s inventory as part of this transaction, and CIT Northbridge Credit has provided a new working capital facility to support ESP. Robbie Duncan will serve as ESP’s new Chief Executive Officer and Tony Todaro as its new Chief Financial and Administrative Officer.
E.J. Antonio, AFI Managing Partner, said, “We are extremely excited about our new platform investment. There was a significant void in the nutritional sports sector as a result of the financial impact of the pandemic. Given the mandated closure of gyms and fitness centers across the nation during the peak of the pandemic and several key customer bankruptcies, Products exhausted all of its cash and other sources of liquidity. However, today, we have launched a new and well-capitalized company directed by an incredibly strong c-level executive team. With the successful national rollout of vaccinations and a renewed focus on nutrition and personal health, we believe ESP is positioned to perform at an exceedingly high level.”
Robbie Duncan said, “It is great to work with the AFI team, especially given their track record in partnering with brands to significantly increase distribution and value over several of their prior investments. Our entire organization has rallied around ramping up procurement and operations to fulfill the pent-up demand we have across all of our distribution channels. ESP will serve as a key conduit for our brand partners who are challenged to adequately reach the 15,000 customer doors that we will service in support of their end consumers. Further, we are optimistic as we launch new products and build new relationships across both domestic and international markets.”
Please visit europasports.com for additional detail.