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L Capital acquires 40% stake in Australia’s 2XU

3 Dec 2013

xuPrivate equity firm L Capital has bought a 40 per cent stake in Australian outdoor and sports clothing brand 2XU.

The company is also backed by Australian investment firm Lazard Private Equity.

2XU said L Capital, which is backed by LVMH Moët Hennessy Louis Vuitton, will be able to provide it with “a valuable consumer markets understanding and access to global markets, through their extensive network and the LVMH Group.”

L Capital Asia managing partner Ravi Thakran said, “2XU signifies a winning proposition of best in class product preferred by Pros across varied sports, with design and innovation rooted in Australia, one of the world’s most active countries, coupled with an extremely passionate and driven management team.

“We firmly believe that the combination of this strong proposition, with our unique approach to performance enhancement across our portfolio companies will help the brand in achieving its full potential as a strong, globally recognised performance sportswear brand.”

In June this year L Capital raised $1bn for its fifth fund, which is significantly larger than the $640m fourth vehicle.

Other companies backed by the firm include iconic Australian clothing and footwear brand RM Williams.

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