Columbia Pacific Advisors, a Seattle-based alternative investment firm, has sold POW Gloves, Holden Outerwear and Spacecraft Collective, three active outdoor apparel brands under the POW Holdings, umbrella.
POW Gloves was sold to Rojo Australia, a snow apparel company based in Torquay, Australia, with strong international links in the snow market globally. Rojo has retained the executive team and is working on a business-as-usual approach for all markets. POW Gloves, a leader in cold weather gloves, was fostered out of the love of snow and outdoor activities and the need for no-nonsense hand wear that is built to last.
Holden Outerwear was sold to private investors. Holden Outerwear was founded by professional snowboarder Mikey LeBlanc and designer Scott Zergebel with a mission to create apparel built on values of quality, style, fit and environmental awareness. Both LeBlanc and Zergebel will continue with the brand under the new ownership.
Spacecraft Collective was sold to Omen Longboards, a skateboard company based in Lynnwood, Wash. Spacecraft Collective makes headwear, apparel and accessories, merging art with outdoor activities.
DA Davidson & Co, a nationwide investment bank, served as the exclusive financial advisor to POW Holdings, LLC. Transaction terms have not been disclosed.
“We are pleased to have completed the sale along with finding appropriate buyers for each of these brands – DA Davidson was a fantastic adviser,” says Kevin Barber, Managing Director at Columbia Pacific. “We appreciate DA Davidson’s persistence and dedication in seeing this process to a close.”
Mike Smith, Managing Director at DA Davidson & Co, adds: “It was a pleasure to work with Columbia Pacific and guide them toward a satisfactory outcome. We are excited to see POW, Holden and Spacecraft achieve future success under new ownership.”
Since the start of 2014, DA Davidson’s dedicated active lifestyle consumer investment banking team has advised on eleven completed M&A transactions and five capital raises in the active lifestyle sector.
