Platinum acquired the company from affiliates of Mad Engine’s current ownership group, which has owned the business since 2011. The existing shareholders and management have retained an equity interest and will continue to serve in leadership roles.
“Platinum has a lot of experience working with businesses like ours and will provide us strategic, financial and operational support, enabling us to pursue an ambitious new phase of growth and expansion,” says Faizan Bakali, president and chief operating officer, Mad Engine. “This
partnership with Platinum gives us tremendous strength as we continue to serve our retailers, licensor partners and, ultimately, the end consumer.”
Founded in 1987, Mad Engine today manages a portfolio of licenses with major corporations,
“From its roots as a small, narrowly focused company in San Diego, Mad Engine has grown into one of the world’s leading providers of apparel and a trusted partner to many of the world’s most iconic brands,” says Jacob Kotzubei, partner, Platinum Equity. “The company is a well-established, scalable platform operating in a highly fragmented industry, which creates a perfect opportunity to continue investing in and growing the business. We have great respect for everything Mad Engine has accomplished and our team is excited to help maximize the company’s potential.”
Mad Engine’s products are sold through leading retailer partners including Walmart, Target, Old Navy, Kohl’s and JC Penney, in addition to specialty retailers, e-commerce channels and other outlets.
“We are thrilled to be joining forces with Platinum and are confident that they are the perfect partner for us,” says Danish Gajiani, chief executive officer, Mad Engine. “Their fervent desire to grow the business is very exciting for all of us at Mad Engine.”
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