Lizzy McLellan//October 1, 2014
//October 1, 2014
Lanham-based Offenbacher Aquatics Inc. has been acquired by a Baltimore-based private equity firm.
Antson Capital Partners LLC announced Wednesday that it had purchased the outdoor furniture and recreational equipment retailer. Deal terms were not disclosed.
Karl Offenbacher, who founded the company in 1973, will step down as its president at the end of the first quarter of 2015. He will serve on the board of directors.
Offenbacher’s has seven retail stores, three in Maryland and four in Virginia. The company has 50 employees and a 120,000-square-foot warehouse and clearance center in Lanham. Antson will buy the headquarters and warehouse in a separate transaction.
Antson Capital also named Andrew Cohen CEO of Offenbacher’s. Cohen is the founder of Water, Water Everywhere, a specialty swimwear retailer that he sold in 2007. He plans to upgrade Offenbacher’s stores, seek more locations and improve the online store.