Kent Outdoors, a leading outdoor adventure company, has announced the acquisition of a $100 million credit facility from asset-based lender (ABL) Eclipse Business Capital. This substantial financing follows recent investments from Goldman Sachs and Comvest Partners, highlighting the confidence in Kent’s future growth and success.
The financial support provided by Eclipse Business Capital and other investors will enable Kent Outdoors to implement significant operational improvements and attract new leadership. With a focus on customer service and satisfaction, Kent aims to expand its market share by attracting new customers and nurturing long-term relationships with suppliers.
As part of the capital investment, Kent has welcomed industry veterans to its executive team. Lee Belitsky, the Executive Chairman, brings extensive experience in the sporting goods industry, having played a key role in driving the growth of Dick’s Sporting Goods over the past 25 years. Additionally, Rob Otto, formerly the CFO and COO of RW Designs, has been appointed as the Chief Financial Officer of Kent Outdoors.
The company’s commitment to innovation is evident in its development of new products for the 2024 season. Kent is poised to serve its loyal customers and newcomers to outdoor sports with exceptional offerings. Notably, the core divisions of the company, including the Outdoors Division and Watersports Division, will continue to be led by experienced leaders who have been with Kent for over 25 years.
Kent’s strategic review of its operating units has led to the decision to seek a buyer for its bike business, Kona. This shift will allow the company to focus its resources on investment in its key water sports businesses. The challenging landscape of the post-COVID bike industry necessitated this strategic move.
Kent Outdoors, with its portfolio of iconic brands such as BOTE, HO/Hyperlite, and O’Brien, has a rich legacy of providing high-quality outdoor products. The company aims to leverage this resilient history to continue innovating and offering unparalleled outdoor experiences for enthusiasts of all ages and skill levels.
As Kent Outdoors embarks on this new phase of expansion, the support of its investors and the dedication of its team will undoubtedly contribute to its continued success as a pioneer in the outdoor adventure industry.
About Kent Outdoors
Kent Outdoors, established in 1959, is a prominent outdoor adventure company based in New London, Ohio. With a diverse product range spanning water sports equipment, snowboards, and more, the company’s portfolio includes renowned brands such as BOTE, HO/Hyperlite, and O’Brien. Kent Outdoors is known for its commitment to providing exceptional quality and innovation in outdoor gear, serving sports enthusiasts of all kinds.
About Eclipse Business Capital
Eclipse Business Capital is an asset-based lender (ABL) committed to providing critical financing solutions to companies seeking growth and success. With a select group of partners, including Kent Outdoors, Eclipse Business Capital delivers expedited financing options and valuable strategic support.
About Goldman Sachs
Goldman Sachs is a global investment banking and financial services firm that provides a wide range of financial and advisory services to corporations, governments, and individuals. With a strong commitment to supporting businesses in various industries, Goldman Sachs has invested in Kent Outdoors to drive its future growth and expansion.
About Comvest Partners
Comvest Partners is a private investment firm focused on providing debt and equity capital to middle-market companies. Comvest’s investment in Kent Outdoors emphasizes its confidence in the company’s potential and long-term success.
Kent Outdoors’ recent acquisition of a $100 million credit facility from asset-based lender Eclipse Business Capital signifies a strong belief in the company’s future growth and success. This substantial financial support, combined with previous investments from Goldman Sachs and Comvest Partners, will allow Kent Outdoors to implement significant operational improvements and attract new leadership.
One key advantage of this credit facility is that it will enable Kent Outdoors to expand its market share by attracting new customers and nurturing long-term relationships with suppliers. This will contribute to the company’s overall growth and success in the outdoor adventure industry.
Kent Outdoors has also welcomed industry veterans to its executive team as part of this capital investment. Lee Belitsky, the Executive Chairman, brings extensive experience in the sporting goods industry, while Rob Otto, the new Chief Financial Officer, has a strong background in finance and operations. The addition of experienced leaders to the team will support Kent Outdoors’ strategic goals and drive its expansion plans.
In terms of market trends, the outdoor adventure industry has been experiencing significant growth in recent years. With the ongoing focus on health and wellness, outdoor activities have become increasingly popular among consumers. Kent Outdoors is well-positioned to capitalize on this trend and offer exceptional outdoor experiences to enthusiasts of all ages and skill levels.
However, there are also challenges and controversies associated with the subject. One key challenge facing the company is the post-COVID landscape of the bike industry. As a result of a strategic review of its operating units, Kent has made the decision to seek a buyer for its bike business, Kona. This shift will allow the company to focus its resources on investment in its key water sports businesses.
It is important for Kent Outdoors to navigate this challenging landscape effectively and ensure a smooth transition for its bike business. Additionally, as the outdoor adventure industry continues to evolve, Kent Outdoors will need to stay ahead of market trends and constantly innovate to maintain its competitive edge.
Overall, Kent Outdoors’ securing of a $100 million credit facility, along with the support of investors like Goldman Sachs and Comvest Partners, positions the company for future growth and success. By focusing on customer service, expanding its market share, and capitalizing on current market trends, Kent Outdoors can continue to provide exceptional outdoor experiences and remain a leader in the industry.
For further information on Kent Outdoors and its portfolio of brands, please visit their official website: Kent Outdoors.