DEVON, Pa.--(BUSINESS WIRE)--L2 Capital announced that it has partnered with affiliated companies Insight 2 Design, Inc. and Elevate, LLC (collectively “Worldwide Camping Holdings” or the “Company”), together a rapidly growing, multi-channel pioneer in the outdoor camping equipment industry. The Company’s proven model features company-owned brands and a comprehensive suite of merchandising solutions that are mission critical to several of the largest outdoor product brands and retailers in the world.
Founded in 2012 by two industry veterans from The Coleman Company, Insight 2 Design, LLC (www.Insight2Design.com) is a rapidly growing designer and marketer of attractive consumer products for the outdoor product markets, or specifically, products that cater to the recession-resistant camping category. Products developed by the Company’s best-in-class design and innovation team generate more than $200 million of annual retail sales.
Launched in 2015, Elevate LLC, with its company-owned brand, Core (www.CoreEquipment.com), is a rapidly growing, digitally focused outdoor equipment company that designs and produces tents, shelters, lights, outdoor furniture and sleeping bags that are primarily sold through online retailers.
Nick Vaughn, Co-CEO of Worldwide Camping Holdings, noted, “We originally set out to elevate partner brands through insight, design and value in the outdoor space. L2 Capital was the only firm who immediately understood our unique business model and the potential to scale in multiple directions at the same time. Like most industries, the outdoor industry is evolving rapidly; partnering with a team that understands your business is a huge advantage.”
“I am very excited about the new partnership with L2 Capital. With the financing expertise and added capital that L2 brings to the partnership, I am confident that Insight 2 Design & Elevate will flourish going forward.” added Kevin Tarter, Worldwide Camping Holdings’ other Co-CEO.
Bob Levine, Managing Partner of L2 Capital, said, “We’re very pleased to have the opportunity to help Kevin and Nick further expand their domestic and online product efforts. We’re very impressed with these entrepreneurs, their business model and rapid growth to date. We’re thrilled that they’ve chosen L2 to be their partner going forward.”
Farragut Capital Partners, Salem Investment Partners and Oxer Capital provided the debt financing and co-invested in this transaction. Farragut led the debt investment and served as agent.
L2 Capital Partners (www.L2Capital.net) is a lower middle market private equity family office that specializes in making controlling or minority investments in business service, consumer product and manufacturing companies with enterprise values up to $65 million. L2 Capital adds value by helping business executives and owners meet their strategic and financial goals by providing access to professionals and resources gained over 40 years of principal investing experience.
For additional information, contact Connor McMahan at info@L2Capital.net or (610) 922-4030.