HEPCO Capital Management, a family investment firm, has announced the acquisition of a majority stake in Original Watermen, a supplier of lifeguard uniforms for various organizations, including the U.S. military. Watermen was founded in 2005 by Jen and Ken Miller, former professional lifeguards, who will remain as shareholders and advisors.
HEPCO is partnering with Daniel Levine, an executive from the surf, outdoor, and lifestyle apparel industry, who will join as an investor and CEO. Levine plans to grow and expand the core Watermen business and its consumer lifestyle brands. He said he was thrilled to partner with HEPCO and the Millers, and praised the Watermen brand for its quality, service, culture, and team.
Bill Fradin, a Managing Partner at HEPCO, said he was impressed by Levine’s track record in brand building and confident about driving the value creation strategy under his leadership. Ken Miller, founder of Watermen, said he and his wife wanted to find the right partners to help grow their business and capitalize on the market opportunity. He said he was optimistic about the future of Watermen and excited to continue its heritage.
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