New York (January 22, 2013) — E&A Industries, a privately held company based in Indianapolis, recently purchased Lyssé®, a New York based apparel company specializing in body-slimming fashions. Terms for the deal are undisclosed.
In 2010, Lyssé® (www.lysse.com) burst on to the American fashion scene with a ready-to-wear line featuring all-in-one torso, tummy and thigh control with style. Within three years, Lyssé® became a go-to item for fashionistas searching for an effortlessly sleek, sophisticated look. Fortified with the company’s revolutionary four-way stretch, hidden control panel and tagless comfort, the bottoms eliminate “the roll” and lend a streamlined appearance with incredible comfort and control.
A stand-alone in the ready-to-wear shapewear market, Lyssé® combines this control with highly stylized designs in cotton/spandex, Ponte and stretch velvet. The company plans to expand the line beyond leggings and accelerate growth through increased North American and international distribution.
Beth Gold Cohen, a former buyer and merchandise manager for Macy’s NY, created Lyssé® and will remain with the company as a partner and chief creative officer. Cohen developed the idea for Lyssé® after gaining weight while battling breast cancer. “At that time, none of my jeans or stretch leggings fit,” she said. “Then one day I had a flash of inspiration — I took one of my control top undergarments and sewed it to a pair of leggings. Suddenly, not only did the leggings fit perfectly, but they felt comfortable and smooth!” Thrilled with her discovery and her improving health, Gold Cohen decided her slogan should be “Peace, Love and Great Legs.”
According to Devin Anderson, CEO of E&A Industries, “we were attracted to Lyssé® because in less than three years the brand expanded rapidly with amazing loyalty among women once they try a pair. Customers embrace the products because of the high-quality and comfort, while helping them feel and look their best. Our goal is to make Lyssé® apparel a staple for every woman who wants to look and feel their best.”
CoView Capital, Inc., an investment banking firm specializing in mergers, acquisitions, and private placements, advised Lyssé® on the transaction. CoView Capital is based in New York City.
About E&A Industries
Based in Indianapolis, Indiana, E&A Industries (www.eaindustries.com) is a privately held corporation that specializes in turning great products into great brands. E&A is not a private equity firm and does not seek to “buy and flip” companies; rather, E&A is an operator of companies and a partner to ownership groups working to achieve long term value creation through a disciplined yet unique management style. E&A consists of a diverse and talented team of experienced entrepreneurial operators who work with company founders and family run businesses to accelerate growth. E&A’s unique management style allows it to remain fluid while continually driving value creation and maximizing a company’s potential over the long term.
As a recent example, E&A’s unique management style is evidenced with Udi’s Gluten Free Foods. Utilizing innovative consumer engagement platforms and a non-traditional industry approach to sales and marketing, E&A was able to drive Udi’s from 2009 sales of $6 million to a run rate of $100 million by May of 2012. Similarly over the past 30 years, E&A has driven a CAGR in excess of 20% at virtually all of the companies in which it has invested.
E&A’s current portfolio includes Lyssé®, Con-Tech Lighting, and Ultra Solutions. Past portfolio successes include Dynaloy (divested to Eastman Chemical, Inc.), Gilchrist & Soames (divested to Swander Pace Capital), and Car Brite (divested to Valvoline).