Bain Capital completed the acquisition of a minority stake in Varsity Brand for $157m.

Bain Capital, a private equity firm, completed the acquisition of a minority stake in Varsity Brand, clothing and accessories company, a for $157m. "As we look to the 2020-2021 school year, principals, athletic directors, coaches and teachers will need a partner with the reach, financial strength and one-stop range of products and services to establish a trusted 'new normal' at schools. The capital we have raised – in otherwise challenging market conditions – speaks to our fundamental strength and potential as we focus our energy on serving this vital role. It will be an extraordinary team effort, and the new capital uniquely positions Varsity Brands to serve customers and the industry during this period of uncertainty and beyond," Adam Blumenfeld, Varsity Brands CEO.