Alignvest completes investment in Canadian company Avid Apparel

Alignvest completed this investment in partnership with EGADS, led by Gilbert Palter, who will be the chair of Avid Apparel’s board of directors during this next phase of growth. Palter was previously co-founder of Edgestone Capital Partners, one of Canada’s leading mid-market private equity firms.

Alignvest also invited a select group of value-added investment partners to participate in the transaction. This group includes corporate CEOs, tenured private equity investors, and other experienced businesspersons all with extensive experience in the media and technology sectors and all of whom have committed to help Avid Apparel realise its full potential, according to a media statement by Alignvest.

“Alignvest’s team and its investment partners have extensive relationships and unique business-building expertise, both of which will undoubtedly help scale Avid to the next level. I am thrilled at this new partnership and look forward to working closely with Alignvest’s team as Avid embarks on this exciting new chapter,” Jesse Guth, founder of Avid Apparel said.

“After working extensively with Jesse, it became clear to us that an investment in Avid fit perfectly with Alignvest’s broader mandate. We are partnering with an ambitious entrepreneur who can leverage our relationships and our expertise in building businesses to substantially accelerate Avid Apparel’s growth. The company benefits from a highly attractive business model, has long-standing relationships with a diverse customer base to which it delivers tremendous value, and is uniquely positioned to capitalise on the rapidly growing social media influencer market. We are incredibly excited to partner with Guth and his team and look forward to helping him build Avid Apparel into a world-class business,” Reza Satchu, managing partner of Alignvest said.

Fibre2Fashion News Desk (GK)