AMES WATSON JOINS FANATICS AS LARGEST OUTSIDE INVESTOR IN THE MITCHELL & NESS

AMES WATSON JOINS FANATICS AS LARGEST OUTSIDE INVESTOR IN THE PURCHASE OF MITCHELL & NESS

Ames Watson Joins a Group of High-Profile Investors Alongside Fanatics, Jay-Z, Meek Mill, Kevin Hart, Lil Baby, Maverick Carter and the D’Amelio Family in Historic Purchase

COLUMBIA, Md., Feb. 28, 2022 /PRNewswire/ — Following news of the purchase of iconic heritage brand Mitchell & Ness by Fanatics, private equity holding company Ames Watson has announced it has joined on as an investor in the historic purchase. Beyond Fanatics, Ames Watson is the largest outside investor of the purchase of Mitchell & Ness, joined by an iconic group of investors. As part of the purchase, Ames Watson will be a material minority investor and will sit on the Board of Directors.

Mitchell & Ness joins Ames Watson’s growing retail portfolio which also includes Lids, Fanatics Lids College, and South Moon Under, among others. Ames Watson has great familiarity with Mitchell & Ness as it has long been a leading brand sold at Lids and its nearly 2,000 retail locations. Through the transition of this new ownership, Ames Watson will bring strategic know-how to this investment and is thrilled to join alongside an iconic group of investors led by Fanatics, Jay-Z, Meek Mill, Kevin Hart, Lil Baby, Maverick Carter, the D’Amelio Family, and more.

“We have been fortunate to collaborate with the great Mitchell & Ness team through our Lids business and could not be more excited to deepen that collaboration through this investment,” said Lawrence Berger, Co-Founder and Partner at Ames Watson. Echoed Tom Ripley, Co-Founder and Partner of Ames Watson, “Mitchell & Ness is a truly an iconic brand. We are looking forward to joining this unparalleled ownership team to continue to innovate and grow this incredible business.”

This news follows the company’s early 2022 announcement that it has raised $250 million in a new round of funding as Ames Watson continues to expand. The funding was raised through Ames Watson affiliate Lids and the issuance of a Term B private loan. Ames Watson expects to use this capital for add-on acquisitions and investments for Lids and for separate stand-alone control and passive investments. Ames acquired Lids in 2019 and has almost doubled revenue at the largest brick and mortar licensed sports business in North America.

About Ames Watson:
Founded by Lawrence Berger and Tom Ripley in 2018, Ames Watson is a privately held holding company based in Columbia, Md. that purchases, invests in, transforms, and partners with companies to create long term value. Ames Watson brings know-how, problem solving, deep resources and experience to grow companies and move them past “inflection points.” Ames Watson takes great pride in its partnership approach, working closely with management teams to create value. To learn more, visit www.ameswatson.com.

-Ames Watson