Please ensure Javascript is enabled for purposes of website accessibility

BDT, MSD Partners buys $100M in Under Armour stock

Daily Record Staff//June 1, 2023

BDT, MSD Partners buys $100M in Under Armour stock

By Daily Record Staff

//June 1, 2023

Baltimore-based athletic apparel manufacturer Under Armour Inc. Thursday announced that funds managed by BDT Capital Partners purchased approximately 16 million class C shares of Under Armour stock from Executive Chair and Brand Chief Kevin Plank.

BDT Capital Partners is an affiliate of BDT & MSD Partners, a merchant bank built to serve business owners and strategic, long-term investors. The shares have a current value of approximately $100 million. Before this transaction, BDT Capital Partners had an existing position in the class C shares of Under Armour.

Following this sale, Plank remains Under Armour’s largest shareholder, retaining approximately 51 million combined shares across the company’s three classes (A, B and C), representing about 12% of the company’s stock and 65% of the voting control. Plank confirmed there are no more current plans for additional sales of his shares.



Networking Calendar

Submit an entry for the business calendar