Winter sports specialty retailer Christy Sports has secured a strategic investment from private equity firm TZP Capital Partners.
Financial details of the investment have not been disclosed.
As part of the partnership, former CEO and chair Patrick O’Winter-led management and the O’Winter family will ‘retain meaningful equity ownership in the business.’
CEO Matt Gold, along with Dan Fox, Hugh O’Winter and Thomas O’Winter will continue to lead Christy’s experienced senior management team.
The investment will also see equity investor Norwest Equity Partners exit the business and Patrick O’Winter remaining on the company’s board of directors.
Gold said: “We are very excited to partner with TZP Group to perpetuate Christy Sports’ 60 years of success into the future.
“We feel great about the cultural fit with TZP Group and believe TZP’s proven capabilities elevating consumer-facing brands and their digital activities will complement Christy’s strong service and retail fundamentals to reach our potential.”
TZP group partner Dan Galpern said: “We are grateful to have the opportunity to build upon the enduring success of Christy Sports.
“We look forward to working with Matt and the entire Christy team to accelerate their growth and enhance their already world-class customer experience.”
In January this year, TZP Capital Partners made a strategic investment in drapery solutions and other unique products provider Quest Events.