Listen to this article

The basics:

• Capezio has been family-owned for nearly 140 years
• CEO Michael Terlizzi, other family members will remain involved
• Brand favored by celebrities such as Beyoncé, Taylor Swift and Lady Gaga

After more than a century as a family-owned company, a private equity firm has acquired Totowa-based dancewear brand Capezio.

In an April 21 press release, New York-headquartered Argand Partners said a number of key family members will remain invested in the company, including CEO Michael Terlizzi. The firm did not disclose financial terms of the deal.

Founded in 1887, Capezio manufactures premium and highly technical footwear, apparel and also accessories. Its items support dancers and athletes of all ages to practice, compete and perform. The Terlizzi and Giacoio family has owned the company for nearly 140 years.

After starting out as a shoe repair shop by the Metropolitan Opera House in New York, Capezio eventually became the official shoe maker for the venue. At the time, the company specialized in ballet pointe shoes.

By the 1940s, department stores including Neiman Marcus as well as Lord & Taylor began selling Capezio jazz and tap shoe styles as fashion footwear. Since the 1980s, the brand’s leotards, leg warmers, shoes and tights have remained popular with consumers as well as celebrities, such as Beyoncé, Taylor Swift and Lady Gaga.

Next dance

In a bid to accelerate Capezio’s next phase of growth while honoring its heritage, Argand plans to build upon the company’s existing success. The company said it will develop new product lines as well as establish licensing agreements with strategic partners. It will also seek to continue to “build deep, authentic engagement with the global dance community,” the release said.

View this post on Instagram

A post shared by CAPEZIO (@capezio)

Commenting on the sale, fourth-generation owner of the company Terlizzi said, “Argand and its advisors have built a strong relationship with our management team over several months and we are delighted to formalize their partnership to build off of 140 years of commitment to the dance community.”

He added, “The Argand team brings a complimentary skillset to our business and our team is excited to be part of the Argand portfolio.”

Industry debut

The Capezio acquisition represents Argand’s first venture in the fashion industry.

The firm specializes in niche market leaders in the manufacturing, distribution and business services sectors. Its other holdings include:

• Keyboard manufacturer Cherry;
• Carpet manufacturer Brintons; and
• Water systems company Oase.

Joyce Schnoedl, a partner at Argand, shared, “We are delighted to invest in this iconic brand that has, since its inception, helped to instill a love of dance and appreciation of the art among dancers across the world. As a dancer myself and consumer of the Capezio brand for several decades, I have a deep personal connection and commitment to the Company. We look forward to supporting Capezio’s next phase of growth.”

Tom Nastos is a longtime fashion executive who advised Argand in the transaction. He added, “Capezio is a renowned brand with a rich history of excellence in dance and performance products. Under Argand’s stewardship, we are committed to upholding this legacy while introducing innovative products to expand Capezio’s offerings. Our goal is to blend tradition with innovation, ensuring that Capezio continues to be an iconic brand in the industry and respected by performers worldwide.”