Team sports apparel and accessories specialist Zelus has received investment from private equity investor Sullivan Street Partners, although the amount hasn’t been divulged.
However, the new backer said the investment will “accelerate and support Zelus’ ambitious growth plans” to strengthen its position in the sports apparel market.
An exclusive Nike licensee, Zelus specialises in the design, development, manufacturing and e-commerce fulfilment of customised sports apparel and equipment for professional and grassroots teams globally.
The support is timely as Zelus made statutory losses last year despite turnover rocketing 157% to £49 million, reported thebusinessdesk.com. However, the business also recorded positive EBITDA for the first time since it was founded as a spin-off from US sportswear giant Nike in 2019.
Layton Tamberlin, co-founder and managing partner of Sullivan Street, said: “Together with Zelus’ management team, we look forward to equipping more teams and athletes with top quality products, from local pitches through to professional stadiums.”
Investment advisor Neil Mitchell added: “Sullivan Street will be a great fit for [Zelus executive director] Dave Seales and [his] team, and there appears to be a real growth story in the sport sector right now.”
