Bain eyeing Varsity Brands cash-out at $6B-plus valuation, Reuters says

Bain Capital is exploring a sale or initial public offering of Varsity Brands that could value the U.S. maker of sports uniforms and school yearbooks at more than $6B, including debt, Reuters’ Abigail Summerville reports, citing people familiar with the matter. Bain has been interviewing investment banks to hire financial advisers that will help the private equity firm come up with a plan to cash out on its majority stake in Varsity Brands, the sources said. Varsity Brands consists of two main businesses, BSN SPORTS and Varsity Spirit. BSN distributes customizable team sports equipment and apparel through partnerships with brands including Nike (NKE) and Under Armor (UAA).