Winter sports apparel specialist POW Inc has secured USD2.5 million from Seattle-based investment firm Columbia Pacific Advisors.
Headquartered in Seattle’s Ballard neighbourhood, POW Inc now operates three apparel brands catering to skiers, snowboarders and outdoor sports enthusiasts: POW Gloves, Holden Outerwear and Spacecraft.
The combined company sells outdoor sports apparel in more than 35 countries around the world.
The USD2.5 million in financing from Columbia Pacific Advisors will enable the company to expand its customer base, enter new markets and upgrade the supply chain and customer-service operations.
“All three of our brands were created by Northwest entrepreneurs, eager to disrupt the marketplace with products that have a style and functionality all their own,” says Greg Danielson, CEO of POW Inc. “The investment from Columbia Pacific Advisors will allow us to expand our role as one of the leading providers of winter sports apparel in the world and also seek new brands to acquire.”
“POW Inc. is an ideal partner for us because of the team’s ability to innovate and reach younger customers in the fast-growing and multibillion-dollar outdoors sports market,” says Kevin Barber, managing director of Columbia Pacific’s growth capital team. “Winter sports brands are driven by personality and passion, and POW knows how to cultivate that production and creativity.”
Columbia Pacific intends to expand its growth capital investment efforts and expects to invest up to USD100 million in expansion-stage companies. Current and former portfolio companies include ComiXology; Blue Box Group; World CNG; Next IT; Lighthouse eDiscovery; and Northeast Wireless Networks.
