PHOENIX – (June 30, 2021)
Cave Creek Capital Management (“CCCM”) completed the sale of a majority interest in Air Waves to Hybrid Apparel. Air Waves is a market leading design and technology driven Print-on-Demand (“POD”) provider serving e-commerce and wholesale customers. Air Waves will continue to operate in Columbus, Ohio and provide its Print-on-Demand and technology services to Hybrid’s retail customers and global license and lifestyle brand partners. Hybrid Apparel is a leading global wholesaler of licensed, branded and private label apparel, and portfolio company of Altamont Capital Partners. Kyle Kantner, who acquired Air Waves in 2009, will continue to serve as CEO while serving as an executive member of Hybrid. The combination of Hybrid and Air Waves will create one of the largest omnichannel wholesalers of licensed, branded and private label apparel.
CCCM will retain a stake in Hybrid Apparel as a result of the transaction along with its affiliates, Northwood Ventures and C3 Capital. G. Kevin Fechtmeyer, Managing Partner of CCCM, said “we are pleased to be investors in Hybrid and be part of this exceptional combination of talent, technology and customer relationships. We believe Bill Hutchinson and Kyle Kantner will be leaders in this segment, servicing the top apparel retailers with Print-on-Demand solutions for some time to come.”
About Cave Creek Capital
Cave Creek Capital Management is a lower middle-market private equity firm that partners with management teams to focus on generating long-term value for portfolio companies by enhancing growth and competitive position. Cave Creek Capital seeks to invest in targeted industries with asset-light business models, bringing over 25 years of transaction experience while completing over 30 investments in the form of equity or mezzanine debt. Cave Creek Capital is based in Phoenix, Arizona and Miami, Florida.