MANUFACTURING
Mad Engine Acquires Neff
In April, Danish Gajiani, chief executive officer of Mad Engine LLC, a designer and distributor of licensed apparel, said that his company would acquire more branded apparel and accessories labels.
On May 17, he made good on his forecast. He announced that his 30-year-old San Diego–headquartered company had acquired Neff, a headwear, accessory and fashion brand that has been popular with the action sports and streetwear set. It has been sold at Macy’s, Tilly’s, Zumiez, Pacific Sunswear and Active.
Mad Engine declined to state the terms of the deal but noted that Moss Adams, Buchalter and Wells Fargo advised them in the transaction with Marlin Equity Partners, a global investment firm with offices in Hermosa Beach, Calif., and London. Marlin made an announcement that it had invested in Neff in 2012.
Gajiani also announced that Shaun Neff, the founder of his self-named brand, will join Mad Engine as the group’s chief creative officer. He will work out of Mad Engine’s new branded division office in Orange County. The office opened earlier this year when Mad Engine announced that it had acquired Lifted Research Group, another prominent label popular with the streetwear set, for an undisclosed amount.
Neff said that he was looking forward to serving in a creative role for Mad Engine. “This is a great thing for Neff. Mad Engine has a phenomenal team, they’re strong financially, and they’ve got superior supply-chain capabilities. Most importantly, they have a deep passion for our business,” he said.
