The Michigan Opportunities Fund has invested in outdoor retailer
Moosejaw
to help the company expand its Web presence and continue to grow its brand. The amount of investment in Moosejaw was not disclosed, but the Fund typically invests between $7 million and $20 million in its portfolio companies. Previous Moosejaw investor Parallel Investment Partners also joined the round.
Apparel company Hanesbrands announced on Thursday that they have completed a debt refinancing that will give the Company more financial flexibility to make acquisitions. Earlier this month, Hanesbrands made a public $500 million notes offering and secured a $1.15 billion credit facility in order to pay down its debt. The Company's goal is to reduce debt by $300 million in 2009 and 2010, cutting interest expense by $20 million to $25 million in 2010 and 2011.
Great news for Ogden company Klymit, an innovator in insulation technology. Level 4 Group, a consultant and investor specializing in defense, security and public safety products and technology, announced yesterday that they led a $2.2 million investment round for Klymit. This will be the second round of funding for Klymit, who received an initial investment of $320,000 shortly after winning the BYU business plan competition in 2007.
Looking to build on its current outdoor and sporting goods product offering, North Carolina company Implus has gone on a spending spree the past few years. Their most recent acquisition is neighboring company Highgear, maker of a variety of outdoor instruments. Implus is the leader in footwear accessories with brands, such as Sof Sole, Airplus, Sof Comfort and Apara, that span the insole, shoecare, lace and sock categories.
Outdoor gear retailer Kathmandu announced yesterday their plans to go public through a share market float on the Australian and New Zealand stock exchanges, expected to be worth up to $375 million. The Company will offer between 167 million and 197 million shares to retail investors at a price somewhere between $1.65 and $1.90 per share.
The Outdoor Recreation Concept to Company competition is now accepting applications through October 18th. This…
