Breakwater Management Completes Financing of Bleach Group, Inc

Growth capital fund backs award-winning youth fashion brand house to support accelerated global sales growth.

LOS ANGELES, DECEMBER 2012 – Breakwater Management, LP (“Breakwater”) is pleased to announce the recent closing of a growth-capital investment in Bleach Group, Inc. (“Bleach”), out of its Breakwater Structured Growth Opportunities Fund (the “Fund”). Breakwater is a private investment firm that specializes in direct investments in leading middle market growth businesses.

Founded in 2001 and headquartered in Sydney, Australia, Bleach designs, produces, markets, and distributes branded youth fashion apparel and accessories under its flagship brands Insight, Ksubi, and Something Else. Bleach’s globally recognized brands are currently sold through premium youth fashion outlets, department stores, and specialty outlets in forty countries.

“We are very pleased to partner with the professionals at Breakwater,” said Mark Byers, CEO at Bleach. “We have strategic plans to expand into new markets, increase our global distribution, broaden our brand offering, and grow our flagship retail and online store presence. The financing from Breakwater will support the company’s increased working capital needs in furthering these initiatives.”

“We are thrilled that our capital will help fuel the operational growth plans of this dynamic global youth culture brand house,” said Saif Mansour, Managing Partner at Breakwater. “The Bleach portfolio of brands has a proven history of success and increased customer adoption around the world. We view this investment as a platform for accelerated expansion, both within the current brand portfolio and by adding further brand assets. We are delighted to be working with Mark Byers and his highly experienced management team in furthering the company’s exceptional prospects.”

ABOUT BREAKWATER MANAGEMENT, LP

Breakwater Management is a private investment firm that specializes in direct investments in lower middle market growth businesses. The firm serves as General Partner of Breakwater Structured Growth Opportunities Fund, LP, a $100 million open-ended private investment partnership organized in August 2008 under Delaware law. The Fund’s investment objective is to generate both current income and capital appreciation through secured debt investments accompanied with equity participation rights, primarily in growth-oriented companies across a variety of industries.

To learn more about Breakwater, visit www.breakwatermgmt.com or call (424) 777-4000.

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Dear friends,

It is with profound sadness that we relay news of the recent death of our partner Saif Mansour. Saif passed away suddenly on October 27th due to an undiagnosed heart condition.

Saif founded Breakwater in 2009 as a young entrepreneur, with the vision of creating an investment firm that reflected his commitment to excellence, integrity, and long-term partnership. He was an incredibly intelligent, energetic, kind, and charismatic person, and a great connector of people who brought joy to everyone who knew him. He was a talented investor, a wonderful friend, and a natural leader.

Saif’s passion for Breakwater was surpassed only by his enormous love for his wife and their two young children. We grieve with them and extend our deepest sympathies to all of his family and friends.

We are heartbroken by this terrible loss but will honor Saif’s memory by continuing to build a firm that reflects his entrepreneurial spirit and core values. May his memory be a blessing to us all.

Sincerely,
The Breakwater Family

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