On May 1st, 2018, Valesco closed its fifth investment from Valesco Fund II. The transaction was an investment, in partnership with The Riveria Group, LLC, of Fabian Couture Group Holdings, LLC and its affiliates (“Fabian”), a designer and wholesaler of men’s formalwear, uniforms and accessories for the rental, retail and hospitality markets in the United States and Canada. Headquartered in New Jersey, Fabian designs a combination of house brands (“First Nighter” and “Neil Allyn”) and private label brands, as well as a full line of tuxedos and accessories for retail sale and rental under the labels of Ike Evening by Ike Behar, Kenneth Cole New York / Reaction by Kenneth Cole by Lanier Clothes. Valesco’s investment will support the continued growth of Fabian’s successful legacy business.
Fabian’s core business focuses on the design of formalwear products including tuxedos, jackets, pants, shirts and accessories. Its efficient design, manufacturing and distribution process of high-quality, fair-priced and updated styles offer a unique value proposition to its customers. Fabian also offers a line of uniform products that serve the restaurant, hospitality and other industries, that include jackets, blazers, trousers, vests, shirts and accessories.
Allan Weiss, who will remain CEO and part of the ownership group, added, “We feel so fortunate to have the opportunity to partner with the Valesco and Riveria teams and look forward to continued growth and success in the future. “
Valesco continues to seek target investment opportunities to provide equity and subordinated debt for control buyout, recapitalization, minority, management buyout and mezzanine situations from Valesco Fund II. Fabian is a great example of relationship, partnership and creativity to find the best possible outcome for the business, the founding shareholders and Valesco. The company is poised for continued success and we could not be more excited to add Fabian to our growing portfolio.