Private equity firm CCMP Capital is to acquire performance and athletic wear manufacturer Badger Sportswear in a deal designed to support the company's continued growth and innovation.

Badger makes team uniforms and performance athletic wear, including performance T-shirts, fleeces, shorts, pants and outerwear. The company supplies a number of US team dealers, decorators, and wholesalers and also sells its products through a "growing number" of collegiate bookstores and sporting goods retailers.

Under the deal, the terms of which have not been disclosed, the brand's founders, Jerry and Bill Carr, will reinvest a significant portion of their equity, with Jerry remaining as CEO and continuing to serve as chairman on the board of directors.

"We are excited about the future of the great company we have built and the opportunity to partner with CCMP," he says. "We believe CCMP's significant consumer and retail investment and operating expertise and its long-standing history of successfully working with family-owned businesses make them the ideal partner to help take Badger to its next level of growth."

The transaction is expected to close in September.

"We are thrilled to be partnering with the Carr brothers and their talented team to continue to build upon the strong company and brand that they have created," adds Doug Cahill, a managing director at CCMP. "Badger's compelling proposition of outstanding product quality, innovation and service at value price points has led to long-standing customer relationships and a clearly differentiated position in the market. We look forward to working with the Badger team to pursue numerous avenues of future growth and continued innovation."