Mad Engine is announcing this morning that it is acquiring urban streetwear brand Lifted Research Group (LRG), one of the first brands that bridged skateboarding and hip hop.
Mad Engine is a large, licensed apparel company whose brands include Marvel, Star Wars, Disney, Nickelodeon and more. It is fully vertical and controls all of its sourcing and supply chain.
The company has big plans for the action sports and streetwear space. SES members can read our interview with CEO Danish Gajiani here. Mad Engine also just hired a new CFO, industry veteran Bill Bussiere, most recently with Billabong.
LRG Co-Founder Robert Wright said: “In the months we have spent getting to know each other, Mad Engine has shown a commitment to LRG’s future. I am optimistic about this new chapter, which creates the ability to grow the LRG brand and creates new opportunities and experiences for those involved. We are excited to join the Mad Engine Family.”
Intrepid Investment Bankers put together the deal.