Moosejaw Mountaineering gets some new investment money
Parallel Investment Partners, a private equity firm investing in privately held, lower middle market growth companies, has acquired a portion of Moosejaw Mountaineering and Backcountry Travel Inc., a multi-channel retailer of outdoor apparel and equipment, has been acquired by. Terms of the acquisition were not released.
Moosejaw, No. 347 in the Internet Retailer Top 500 Guide, sells through three web sites—Moosejaw.com, TheJaw.com and Thalowdown.com—and six retail stores in Michigan and Chicago, as well as through a seasonal catalogs.
Moosejaw was founded in 1992 by Robert Wolfe and was later joined by his siblings, Jeffrey and Julie. The company says that following the transaction, the Wolfes will maintain a significant ownership stake in the company and continue to lead Moosejaw in their current senior management roles.
“Moosejaw is well-positioned for continued strong growth because it’s selling into a multi-billion dollar market, it has established an exciting and differentiated brand in the category and because Moosejaw’s founders will continue to lead the company going forward,” said Parallel Investment Partners Managing Director Jed Johnson. “The company is one of the fastest growing retailers in the outdoor apparel and equipment market, and we are very excited about the opportunity to grow Moosejaw by combining the Wolfes’ passion for the company with Parallel’s substantial specialty retail expertise.”
“Our new partnership with Parallel will allow us to expand the online, catalog, retail and private-label businesses more efficiently and more effectively,” Robert Wolfe says. “Our goal at Moosejaw is to sell the best gear and outerwear in the world and have as much fun as possible while we do it. Our bizarre and chaotic marketing strategy has created a unique relationship with our customers. We call it Moosejaw Madness. Our culture alongside Parallel’s retail and consumer expertise will be amazing for Moosejaw.”
Parallel Investment Partners manages $400 million in investments. Among the retailers in which it holds investments are Children’s Place Retail Stores, Hat World Inc., and Weisman Discount Home Centers.
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