Marwit Capitol has sold work wear and Western wear retailer Boot Barn to another private equity firm, Freeman Spogli & Co., for an undisclosed sum. Both parties announced the deal on Dec. 13.
The existing management team, led by CEO Patrick Meany, will continue to manage and operate the business, Freeman Spogli & Co. said in a statement.
Founded in 1978, Boot Barn has grown from one store in Huntington Beach, CA, to 85 stores in eight Western states. The retailer also has a growing online presence at bootbarn.com. Marwit acquired Boot Barn in 2007 in partnership with Meany.
During Marwit’s four-year ownership, Boot Barn had revenue growth of 166% and EBITDA growth of 250%.