Irving Place Buys Dots Stores

New York–based Irving Place Capital acquired Dots LLC, a fast-fashion retail chain. Founded in 1987, Dots currently operates more than 400 stores in 26 states in the Midwest, East and Southeast.

Calling Dots “a compelling investment opportunity,” John Howard, chief executive officer of IPC, praised Dots’ “strong position in the affordable-apparel segment, a loyal existing customer base and a committed management team.”

IPC has invested in several retail and apparel companies, including Aeacute;ropostale, New York & Co., 7 For All Mankind and Stuart Weitzman.

“Historically, some of IPC’s most successful investments have been in high-growth specialty retailing companies,” he said.

Bob Glick, Dots’ founder and chief executive officer, is stepping down. His position will be filled by company President Rick Bunka.

“IPC’s investment in Dots is a clear endorsement of the company and its associates,” Glick said. “Rick Bunka’s leadership will provide continuity for Dots associates.”—Alison A. Nieder