Moosejaw, a Madison Heights, Mich.-based multi-channel retailer of outdoor active apparel and equipment, has raised an undisclosed amount of growth equity from Glencoe Capital’s Michigan Opportunities Fund.
Glencoe Capital’s Michigan Opportunities Fund has made a growth equity investment in Moosejaw, a leading multi-channel retailer of premium quality outdoor active apparel and equipment based in Madison Heights, Mich., announced David S. Evans, Glencoe Capital’s Chairman and CEO.
“We are extremely pleased to find a Michigan-based company that offers sterling opportunities for revenue growth and the promise of expansion in the state,” said Evans. “Moosejaw presents a compelling story in the specialty outdoor active apparel and equipment marketplace, with national reach and highly loyal customers.”
Moosejaw offers products from leading outdoor manufacturers, including The North Face, Arcteryx, Patagonia, and Mountain Hardwear, as well as under its own Moosejaw brand. The company’s diverse customer base includes outdoor enthusiasts, active individuals pursuing an outdoor lifestyle, and customers who are passionate about the company’s products and its edgy, youthful brand. Founded in Michigan, the company has seven retail stores in the state and in Illinois, a thriving business online, and mails catalogs directly to customers’ homes.
“Moosejaw has developed a strong following through unique branding and its customer interaction strategy, which includes a significant and growing online presence as well as followings on Twitter, Facebook and Flickr,” said Jason Duzan, Managing Director of the Michigan Opportunities Fund, which is based in Birmingham, Mich.
“We’re on the cusp of significant growth,” said Harvey Kanter, Moosejaw’s CEO. “This investment from Glencoe Capital comes at an opportune time, since it allows us to leverage our online platform and enter promising new retail environments for outdoor active apparel and equipment.”
“Moosejaw is poised for growth—and can manage that growth because of its investment in cutting-edge technology alongside its brand profile,” Duzan noted. “We believe the company will demonstrate continuing value in future and will grow in the State of Michigan.”
“Glencoe Capital’s investment is in partnership with existing Moosejaw investor, Parallel Investment Partners, a leading investor in high-growth retail concepts.” Moosejaw represents the Michigan Opportunities Fund’s third investment. Financial terms of the transaction were not disclosed.
About the Michigan Opportunities Fund
A participant in the InvestMichigan! initiative established by the State in 2008, Glencoe Capital’s Michigan Opportunities Fund represents a groundbreaking partnership between the public and private sectors, leveraging equity capital to make lead-sponsored acquisitions and growth equity investments in companies in the State of Michigan or with the prospect of expanding operations into the State.
Managed by Glencoe Capital, the Michigan Opportunities Fund invests in companies that show the promise of future growth or where operational improvements will create additional value. Investment targets are lower middle-market companies with EBITDA in excess of $3 million and with minimum equity capital requirements of $10 million. More information is at www.glencap.com.
About Glencoe Capital
Founded in 1993, Glencoe Capital is a private equity firm focused on lead-sponsored acquisitions and growth equity investments in lower middle-market companies. Glencoe Capital and its affiliates manage a number of private equity funds including the Michigan Opportunities Fund and Glencoe Capital Partners III, L.P., and have over $1.3 billion under management. More information is at www.glencap.com.
At Moosejaw we make shopping as much fun as backpacking the Chilkoot trail, climbing in Yosemite, mountaineering in the Himalayas or playing red rover with the neighbors who you don’t like that much but they’re always ready to play any game in the cul-de-sac so you make do. We also like to make ridiculous commentary on our web site, hang our tweets on Twitter, and generally hope you’re smiling when we do it. Oh, yes—and we carry the finest selection of the best outdoor active apparel and equipment in the world.
Want more? Click on Moosejaw Madness at www.moosejaw.com. Love the Madness. Moosejaw.