Saxx Gets New Owner to Fund Growth in Categories, Regions - NewsBreak

Saxx has a new majority owner and the deep-pocketed investor is poised to help the men's underwear brand continue on its expansion path. The Vancouver-based Saxx Underwear Co. Ltd. has received an undisclosed strategic investment from TZP Group, a private equity firm, through TZP Capital Partners III L.P. As a result, NLS Group Holdings Inc., led by Krystal Growth Partners, which invested in Saxx in April 2010, will retain a "significant minority interest," and Brentwood Associates, a Los Angeles-based private equity firm that invested in Saxx in December 2016, will exit its investment. Terms of the transaction were not disclosed.