Canadian lifestyle and performance apparel maker Coalision Inc has secured $21 million in financing. The deal was led by Lune Rouge, a firm controlled by Guy Laliberté, founder of Cirque du Soleil. It was joined by the company’s existing investors and lenders, including Simon Equity Partners, members of the Hermes family, and Fonds de solidarité FTQ. Montréal-based Coalision said the financing will support the growth, marketing and development of its brands, including women’s activewear brand Lolë. Coalision was sold to an investor group led by the company’s CEO Bernard Mariette by Kilmer Capital Partners in April 2014.
PRESS RELEASE
Coalision/ Lolë Secures $21M in Financing
Current financial partners and Lune Rouge invest to sustain global growth, marketing and product development in the growing “athleisure” market
MONTREAL, June 21, 2016 /CNW Telbec/ – Coalision Inc., the Canadian-based leading designer and developer of lifestyle and performance apparel, announced today it has secured $21 million in new financing to go towards growth and general working capital. The investment will fuel the activities of Coalision brands, including Lolë, known for its technical, fashion-forward women’s activewear inspired by wellness; and Paradox, offering high-performance base layer and outdoor clothing.
The financing was led by Lune Rouge, a creative company inspired and controlled by Guy Laliberté, founder of Cirque du Soleil. Coalision’s existing shareholders and lenders – including Simon Equity Partners, members of the Hermes family and Fonds de solidarité FTQ – joined Lune Rouge in the round.
“This financing enables us to sustain global growth across all distribution channels and safeguard against currency fluctuation and other external economic forces,” said Bernard Mariette, Chief Executive Officer of Coalision. “At a time when the athleisure market is more dynamic than ever, with growing demand for adaptable apparel that transitions from work to workout to weekend, we are building global awareness as an industry leader. The Lolë brand, in particular, is best positioned to take the lion’s share of this market opportunity, thanks to our product proposition and core values — versatility and wearability from morning to night, from Monday to Sunday,” added Mariette.
About Coalision
Founded in Montreal in 1989, Coalision has a presence worldwide, with brand storefronts, products and popular wellness events throughout Canada, the United States, Europe and Asia. A blend of the words “coalition” and “collision”, the name Coalision is a faithful reflection of the nature of the company: a strong coalition of dedicated people based on a creative collision of ideas. Coalision designs and produces activewear under the Lolë and Paradox labels. Still entirely designed in Montreal, Quebec, Lolë clothing can be found at more than 1,700 retail outlets around the world, in Lolë Ateliers and online at www.Lolewomen.com. Lolë stands for Live Out Loud Everyday.
About Lune Rouge
With its guiding principle to promote innovation, creativity and entrepreneurship, Lune Rouge develops projects and invests in funds with a focus on technology, entertainment and real estate as well as initiatives that generate positive social and environmental impacts.
About Simon Equity Partners
Simon Equity Partners is a private equity firm focused on making growth capital investments in the consumer space. The firm’s goal is to use its financial and operational expertise and extensive network to help build valuable businesses with inspiring entrepreneurs.
About Fonds de solidarité FTQ
With net assets of $11.2 billion as of November 30, 2015, the Fonds de solidarité FTQ is a development capital fund that channels the savings of Quebecers into investments in all sectors of the economy to help create and maintain jobs and further Québec’s development. The Fonds is a partner, either directly or through its network members, of more than 2,550 companies. With over 600,000 shareholder-savers, the Fonds has helped create, maintain and protect more than 176,000 jobs. For more information, visit www.fondsftq.com.
For further information: For media inquiries: Geneviève Allairem, BICOM Communications, gallaire@bicom.ca, 514-223-6770
Photo courtesy of Coalision Inc
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