L Catterton-backed Australian sportswear retailer 2XU could be in play
Speculation is mounting about the latest move by the US$34 billion private equity arm of French luxury goods giant LVMH to exit an Australian investment.
Advisors are circling Australian-based and L Catterton-backed private sportswear brand 2XU ahead of possible refinancing or sale.
Multiple dealmakers told Capital Brief they are monitoring the company, which will need to refinance or repay debt held by US private credit investor Hilco Credit, according to a source familiar with the situation.
The chatter could signal the latest move by L Catterton, the USD34 billion private equity arm of French luxury goods giant LVMH to exit an Australian investment. L Catterton sold swimwear label Seafolly for $70 million earlier this year, and divested iconic bootmaker RM Williams to Tattarang, the private investment vehicle of iron ore magnate Andrew Forrest, for $190 million in 2020.
2XU, pronounced 'two times you' and established in 2005, specialises in performance compression apparel and has stores in Sydney, Brisbane and Melbourne.
