The Courtney Group, Inc. has acquired Flojos (“flo-hos”) a family owned business from husband/wife team Nellie and Sheng Yen Lin. John Dickinson, a footwear industry executive is an investor and CEO of the company.
Flojos was established in the early 1970’s by the Santana Family in Guadalajara, Mexico. Its flip-flops were made in Mexico and introduced to the surf community in San Diego, California. Early on, the company introduced its classic sandal 101 Flojos, a crisscross style with cross straps that became an iconic product and helped Flojos grow rapidly. Nellie and Sheng Yen Lin acquired Flojos in 1996 and experienced steady growth, expanding the brand from predominately men’s to both men’s and women’s footwear.
The Courtney Group, Inc. is a private equity firm based in Newport Beach, California, with a track record of successfully backing CEOs in acquisitions. Tom Courtney, President of The Courtney Group said, “We acquired Flojos with a focus on building upon the rich heritage of the brand. Our strategy will include expanding the men’s division, bringing back limited edition styles, including some of the original sandals from Mexico, and expanding internationally.” John Dickinson, CEO of Flojos, added, “As one of the original sandal companies, Flojos has strong brand recognition which was attractive to us. The brand was doing well, the owners just wanted to retire and leave the brand with someone who could build upon the heritage. We see a tremendous opportunity to expand not only here in the U.S., but the international opportunities are equally great.”
With a team of talented athletes supporting the brand, including Paul Pugliesi (WSL competitor), Paul Pence, Cole Harmening, Raya Walker (wakeboard), Jake Maki, Melia Haller, and Scott Strong. Flojos will continue to support the industry and develop marketing and social media strategies meant to expand brand awareness.
For more information and to see the newest collection, please visit Flojos at Surf Expo in booth #1807 as well as the upcoming Magic trade show in Las Vegas.
Founded in the early 1970’s, Flojos is one of the original sandal companies. All Flojos products are designed with attention to detail and comfort with materials that include top quality leather, nylon, rubber and canvas. Flojos are distributed through national retailers such as Tillys, Flip Flop Shops and through other independent retailers nationwide, as well as its own website at www.flojos.com. Price points range from $20 to $60.
About The Courtney Group:
The Courtney Group provides private equity and investment banking services. The Courtney Group has advised hundreds of companies on transactions and has been successful starting, buying, selling and financing dozens of businesses as entrepreneurs themselves.
For private equity investments, The Courtney Group, Inc. seeks to invest between $1 million to $100 million in businesses with revenues of $10 million to $500 million and cash flow of $2 million to $50 million. The firm seeks to invest in businesses with attractive growth prospects and high quality management teams. The Courtney Group has completed 20 private equity investments since 1999. The firm often acquires businesses from sellers seeking to retire or entrepreneurs seeking a partner to help them reach the next level of success. The Courtney Group team is comprised of partners and professionals with substantial operational experience. The firm is flexible its level of involvement, and can provide a lot or a little support depending on a company's needs.
For investment banking advice, The Courtney Group, LLC advises clients on buying and selling businesses, and raising capital for growth and acquisitions. Securities are offered through The Courtney Group, LLC, a broker-dealer, member FINRA/SIPC.
The Courtney Group specializes in the following industries: consumer, chemical, financial services, healthcare, manufacturing, and technology. For more information please see: www.thecourtneygroup.com