Latest Business News
Mike Repole's Private Equity Firm Buys Majority Stake in Sneaker Brand NoBull
Private equity firm Major Capital, owned by Mike Repole, has announced its acquisition of a majority stake in sneaker brand NoBull. This is the first major investment for Repole's family office, and the terms of the deal have not been disclosed. Repole expressed his enthusiasm for the brand, stating that he was drawn to the name and its no-nonsense philosophy. NoBull, founded in 2015 by former Reebok executives Marcus Wilson and Michael Schaeffer, is a Boston-based company that primarily sells its sneakers and apparel online.
NoBull has already established partnerships with renowned fitness brands such as CrossFit, The PGA Tour, and the NFL Combine. Repole initially reached out to NoBull's founders 14 months ago with a proposal, but it was ignored. However, after persistent efforts, they finally met two months ago and discovered a shared vision for success. Repole believes that NoBull has the potential to be a life-changing brand, inspiring people to be the best version of themselves. He even hinted at the possibility of taking the brand public through an IPO in the future.
Repole's Track Record
Repole's successful history with beverage brands adds credibility to his partnership with NoBull. He previously sold BodyArmor to Coca-Cola for $5.6 billion in 2021 and co-founded Glaceau, known for popular brands like Vitaminwater and Smartwater, which were later acquired by Coke in 2007. Co-founder Marcus Wilson acknowledged Repole's expertise and experience, stating that he has been to the places where NoBull aims to go and is already several chapters ahead in the brand's story.
The Road Ahead
In the near term, Repole, Wilson, and Schaeffer will focus on expanding NoBull's reach. Wilson mentioned that Repole and his team bring operational excellence to the table, and Repole understands the path to scaling a brand from hundreds of millions to billions. With Repole's support and guidance, NoBull aims to become a prominent player in the sneaker industry and continue to inspire individuals to embrace the NoBull mentality of cutting out the noise and clutter to become a better version of themselves.
Conclusion: A "Hot Take" on the Impact for New Businesses
NoBull's acquisition by Mike Repole's private equity firm Major Capital is not only great news for the sneaker brand but also sends a positive signal to new businesses looking to make their mark. This partnership showcases the power of persistence and the potential for success when a shared vision aligns.
For budding entrepreneurs, the key takeaway is to never underestimate the importance of networking and following up on opportunities. NoBull's founders initially ignored Repole's proposal, but Repole's tenacity paid off when they finally met and discovered their shared vision for success. This serves as a reminder to new businesses that persistence, patience, and the right connections can open doors to major opportunities.
Additionally, Repole's successful track record with beverage brands adds credibility and demonstrates the value of having a seasoned investor on board. His experience and expertise can significantly accelerate a company's growth trajectory, and NoBull's founders have acknowledged Repole's ability to navigate the path from hundreds of millions to billions in valuation. This highlights the importance of finding seasoned partners or investors who can provide guidance, operational excellence, and industry insights to scale a business effectively.
Overall, the NoBull-Major Capital partnership serves as an inspiration for new businesses. It shows the potential for success when driven entrepreneurs meet the right investors who believe in their vision, opening doors to partnerships and growth. The story of NoBull's journey with Mike Repole's support exemplifies the resilience and determination necessary to thrive in a competitive market while inspiring others to cut through the noise and clutter to become their very best.
Article First Published at: https://www.cnbc.com/2023/07/20/mike-repole-takes-stake-in-nobull.html