BUFFALO, N.Y. — After a $700 million deal in 2022 with private equity investors, New Era Cap LLC has reportedly started preparations for an IPO in New York.
The company’s IPO could value the Buffalo headwear business at $4 billion to $5 billion, according to Reuters. New Era has invited law firms and investment banks this month to pitch for a part in its stock market entrance and aims to go public next year.
In February 2022, ACON Investments — a Washington, D.C., private equity firm — acquired between 15% and 20% of the company, the first private equity investment in New Era’s history. ACON expanded its holdings in August with a $700 million deal that brought in other investors. You can read the full story on Buffalo Business First's website.
