Apparel Company Mad Engine Acquires LRG (Lifted Research Group)
SAN DIEGO, April 25, 2017 /PRNewswire/ -- Mad Engine LLC, a leading full-service licensed apparel company, today announced that it has acquired urban streetwear brand Lifted Research Group, Inc. (LRG).
Mad Engine has expanded substantially since its founding in 1987, from a small t-shirt supplier in Southern California to a best-in-class design, merchandising and distributor of licensed apparel, catering to the needs of a wide spectrum of retailers. The company has gained full vertical capabilities over the past 30 years, enabling greater control over sourcing and the supply chain, as well as providing reliability and predictability to customers. In more recent years, Mad Engine has diversified product offerings by launching additional divisions outside of its core male/kids apparel business to include female apparel and adult loungewear/underwear. Mad Engine also expanded its horizon globally by acquiring Xtreme Worldwide to serve as the foundation of its International Business Division. Today, Mad Engine is excited to formally announce Mad Engine's newest business venture into branded apparel space.
"The Mad Engine team is excited about the opportunity to bring LRG on board. It is a brand many of us grew up wearing and have supported over the years and feels like a natural fit for our first venture into branded apparel," said Danish Gajiani, CEO of Mad Engine. "The experience of the LRG team and sound infrastructure will serve as a solid foundation and platform to launch the branded division and bring on many additional brands in the future."
"In the months we have spent getting to know each other Mad Engine has shown a commitment to LRG's future. I am optimistic about this new chapter which creates the ability to grow the LRG brand and creates new opportunities and experiences for those involved," said LRG Co-Founder Robert Wright. "Further, Intrepid's Apparel & Retail investment banking team was an invaluable advisor to us as we sought a partner that could provide us with value-added resources and capital commitments to continue accelerating the company's growth," added Robert. "We are excited to join the Mad Engine family."
Intrepid Investment Bankers, a Los Angeles-based middle-market investment bank that provides M&A, capital raising, and strategic advisory services, served as the exclusive financial advisor to LRG.
About Mad Engine
Founded in 1987, Mad Engine has grown to become a leading global licensed apparel wholesaler. Top brands include Marvel, Star Wars, Disney, Nickelodeon and many more. Mad Engine's footprint spans multiple continents, with unique locations dedicated to design, customer service, manufacturing, quality assurance and distribution. This process better enables the company to fully meet the needs of every customer—from independent boutiques to mass market retailers—ensuring the best customer experience possible.
About LRG
LRG started in a 300-square foot warehouse in Santa Ana, Calif. The founders had an idea of creating a brand that would be a bridge between skateboarding and hip hop, which at the time had not been done. LRG was an immediate success with tastemakers and influencers and over the next several years grew into a globally recognized brand, forever changing the landscape of young men's fashion. Today, LRG is known as the originator of what is now commonly known as "streetwear."
SOURCE Mad Engine
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