Altitude Sports, a Montréal-based online retailer specializing in urban and outdoor high-end clothing, has raised undisclosed financing led by the Growth and Transition Capital division of BDC Capital. The funds raised will support the company’s flagship projects and global expansion. Last year, Altitude secured a minority investment from BDC Capital’s Growth Equity group.
Online retailer Altitude Sports receives new financial assistance from BDC Capital to support its growth
MONTRÉAL, November 28, 2019—Altitude Sports, one of Canada’s leading online retailers of technical clothing for nature and the city, has received new financial assistance from BDC Capital to support its strong growth.
Altitude Sports had a busy 2019 with the launch of Vallier, a brand of urban and high-end technical clothing. With the recent hiring of Joe Asmar as Chief Operating Officer, Altitude Sports intends to continue its momentum in 2020 with, among other things, the acceleration of its online marketplace, which allows brands to sell their products directly on the Altitude sports.com platform.
“We have had a relationship of trust with BDC since 2011, when my partner Alexandre and I bought the company,” said Maxime Dubois, co CEO of Altitude Sports. “That support will allow us to invest in our two flagship projects, namely the marketplace and Vallier. In the medium term, we also plan to expand internationally. ”
This transaction was led by the Growth & Transition Capital division of BDC Capital, which has been a partner of Altitude Sports since 2014. BDC Capital became a minority shareholder in 2018. “Since we’ve been partners, Altitude Sports’ revenue growth has consistently exceeded our expectations,” said Patrick Latour, Senior Vice President, Growth & Transition Capital. “Maxime Dubois and his co CEO, Alexandre Guimond, are dynamic and ambitious entrepreneurs who always want to improve and who do not hesitate to surround themselves with the right people and to seek advice when necessary.”
About Altitude Sports
Altitude Sports is Canada’s largest online retailer of technical and urban clothing. With 35 years of experience and a selection of over 400 brands, Altitude Sports is the expert for outdoor and urban adventures. In 2019, the company employs 350 employees who support its growth. By the end of the fiscal year, Altitude Sports will have delivered more than 700,000 packages to its customers, 35% of which are in Quebec and 65% in the rest of the country.
This year, Altitude Sports launched Vallier, a new clothing brand. Vallier combines the performance of outdoor clothing technologies with a collection of high quality essentials built for urban living.
The three websites that Altitude Sports operates are www.altitude-sports.com, www.thelasthunt.com and www.vallier.com.
About BDC Capital
BDC Capital is the investment arm of BDC—Canada’s only bank devoted exclusively to entrepreneurs. With more than $3 billion under management, BDC Capital serves as a strategic partner to the country’s most innovative firms. It offers a full spectrum of risk capital, from seed investments to transition capital, supporting Canadian entrepreneurs who wish to scale their businesses into global champions. Visit bdc.ca/capital.