New Era

OWNERSHIP PATH

The layers behind the sign

1. Business or brandNew Era
2. Parent platform'47 (via New Era Cap)

   New Era is listed by an official source as part of '47 (via New Era Cap).

   Evidence [1]
3. Controlling private-equity ownerACON Investments

   ACON Investments, L.L.C. is the current investment firm connected to '47 (via New Era Cap). 1. **Current ownership of ’47 (platform focus).** - ACON Investments’ June 7, 2024 press release states that **New Era Cap, LLC (“New Era”) will acquire ’47**, describing New Era explicitly as “a portfolio company of ACON Investments, L.L.C.” and noting that ACON “will maintain a significant stake in the combined company” after closing.[1][8] - ACON’s August 4, 2022 continuation‑fund release further confirms that ACON structured a single‑asset continuation fund for New Era Cap and **increased its existing ownership stake**, while ACON Investments and its fund continue to hold “significant stakes in the Company,” and that new investors (Apollo, GCM Grosvenor, Hamilton Lane, Neuberger Berman) and major sports leagues (MLB, NFL, NBA) participate only as *minority* owners.[8] - Reuters independently reports that New Era is “overseen by its founding family” and that **private equity firm ACON Investments possesses a significant ownership stake**, with the ’47 acquisition expected to close by the end of 2024.[4] - Sports Business Journal reports that New Era “will acquire ’47” and that **ACON Investments will maintain a significant stake in the combined company**, i.e., the New Era‑led platform that includes ’47.[10] - Subsequently, Sports Business Journal and other deal sources (Yahoo Finance, William Blair commentary, PrivSource, MergerLinks) report that **New Era has completed its acquisition of ’47**, confirming that ’47 is now owned by New Era Cap as part of the combined company.[5][6][7][9][12] Under your rules, the **operating parent (New Era Cap, LLC)**

   Evidence [2]