Columbia Pacific Advisors said it sold POW Gloves to Rojo Australia, Spacecraft Collective to Omen Longboards and Holden Outerwear to unidentified private investors 30 months after investing $2.5 million in the partnership that used to own them.
The sales mark the liquidation of POW Holdings LLC, which had owned all three brands.
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.
D.A. Davidson & Co., a nationwide investment bank, served as the exclusive financial advisor to POW Holdings, LLC. Transaction terms were not disclosed.
“We are pleased to have completed the sale along with finding appropriate buyers for each of these brands D.A. Davidson was a fantastic advisor,” said Kevin Barber, Managing Director at Columbia Pacific. “We appreciate D.A. Davidson’s persistence and dedication in seeing this process to a close.”
Mike Smith, Managing Director at D.A. Davidson & Co., added, “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, D.A. 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.
Columbia Pacific Advisors manages more than $1.1 billion across a variety of alternative investment strategies including private real estate, real estate lending, growth capital, private equity and distressed debt. The firm utilizes deep fundamental research and seeks to generate compelling, consistent risk-adjusted returns. Columbia Pacific Advisors was founded in 2006 by Alex Washburn, Stan Baty and Dan Baty. The headquarters is located in Seattle.
About D.A. Davidson & Co.
D.A. Davidson is a full-service investment firm with operations nationwide. The firm’s Equity Capital Markets Group offers a full suite of investment services and products, including investment banking, institutional sales, trading, research and corporate services. D.A. Davidson’s investment banking team provides merger and acquisition services, strategic advisory and access to public and private capital markets. In addition, the firm’s industry-driven research team offers award-winning research, supported by sales and trading professionals.
D.A. Davidson is one of four firms within D.A. Davidson Companies, an employee-owned financial services company.
