Swimsuit Heirs Acquire Control of Raj Manufacturing
Alex Bhathal and sister Lisa Bhathal Vogel have partnered with San Francisco–based investor Swander Pace Capital to take over control of Tustin, Calif.–based Raj Manufacturing. The 40-year-old swimsuit manufacturer of brands such as St. John Swimwear, O’Neill, Guess and Tommy Hilfiger was founded by the pair’s parents, Raj and Marta Bhathal. In recent years, Alex Bhathal and Lisa Bhathal Vogel have assumed the day-today responsibilities at the swimsuit maker.
Now, in a move Alex Bhathal categorized as “estate planning,” the siblings will officially take control of the company and become copresidents. Alex Bhathal declined to give details of the deal or describe what role Swander will play at Raj. “We aren’t making a big deal about this. It is part of our overall plans to ensure the success of our family business for another 40 years, or more,” he said.
Raj and Marta Bhathal will remain at the company as directors. “They will continue to guide and mentor Lisa and I as before,” Alex Bhathal said, speaking from Chicago. Day-today operations at the company, which produces upwards of 3 million swimsuits per year, will not be affected.
Raj Manufacturing has always been a family affair. In 1967, Raj Bhathal and his beachbunny wife, Marta, opened Raj Manufacturing with a $5,000 loan from Marta’s mother. Lisa Bhathal Vogel joined the company in 1993 after graduating from the University of Southern California. Alex Bhathal, who attended USC’s graduate school for business, joined Raj in 1999. —Erin Barajas
