January 10, 2011
Ellipse Capital Announces Equity Investment in Heritage Sportswear, Inc.

Ellipse Capital announced that it has completed an equity investment in Heritage Sportswear, Inc. (“Heritage”).  The transaction represents a partnership between Ellipse Capital, Chicago-based private equity firm Schumacher Capital and Michael Jurden, President.  Terms of the transaction were not disclosed.

Heritage Sportswear (www.heritagesportswear.com) is a leading regional distributor of imprintable sportswear, apparel, headwear and accessories to the promotional products market.  Headquartered in Hebron, Ohio, the company sells a broad range of t-shirts, branded apparel, sport shirts, fleece and related accessories to screen printers, embroiderers, athletic dealers and other businesses primarily in the Midwest.

Mike Jurden, President of Heritage, said, “Ellipse Capital has an excellent track record of working with distribution businesses to help execute their growth plans.  We are excited to partner with Ellipse Capital and Schumacher Capital to expand our product offering, increase our geographic footprint and improve our distribution capabilities.”

Peter Gotsch, Managing Partner of Ellipse Capital, said, “We look forward to partnering with Mike Jurden, Don Schumacher and Schumacher Capital to build on the strong track record of growth at Heritage.  The company is in a unique position to gain market share and enjoy meaningful growth over the next several years.”

Ellipse Capital is a private investment firm focused exclusively on value-added distribution businesses across a broad range of end markets.  Ellipse sources and invests in growth oriented, lower middle market distribution businesses with enterprise values between $10-$75 million.