DEVON, Pa.--(BUSINESS WIRE)--L2 Capital Partners, L.P. (“L2” or “L2 Capital”) (www.L2Capital.net) is pleased to announce the sale of Insight 2 Design, Inc. and Elevate, LLC (collectively “Worldwide Camping Holdings” or the “Company”) to Clearview Capital. This transaction represents the successful realization of L2’s 2018 investment in Worldwide Camping Holdings. Terms of the transaction were not disclosed.
Headquartered in Overland Park, KS, Worldwide Camping Holdings is a rapidly growing, multi-channel pioneer in the outdoor camping equipment industry. One of its business units, Insight 2 Design (www.Insight2Design.com), is a product development company specializing in innovative camping equipment and portable battery lighting. A second business unit, Elevate LLC, designs and produces outdoor gear such as tents, shelters, lights, outdoor furniture and sleeping bags, sold primarily through online retailers under the company brand Core Equipment (www.CoreEquipment.com).
Under L2’s ownership, Worldwide Camping Holdings broadened its management team, channel expansions and category expansions and experienced significant company-owned brand growth. The investment allowed the Company to grow its core business, develop new products, expand end markets served, and position the business to achieve double-digit annual growth rates.
Nick Vaughn, Co-CEO of Worldwide Camping Holdings, said, “L2 Capital was a great partner who truly understood the business from day one and helped us strategically scale the team and business to position the Company for rapid growth. It has definitely been a win-win partnership, and we wish the L2 Capital team and its partners continued success.”
“It has been a pleasure working with the leadership team of Worldwide Camping Holdings over the past several years to drive significant growth across the business, expand to new products and services, and increase market share across all of the product lines,” said Bob Levine, Managing Partner at L2 Capital. “L2 believes that the Company will continue to grow, and we wish them the best with their new partners.”
TM Capital served as financial advisor, and Troutman Pepper served as legal counsel to Worldwide Camping Holdings.
L2 Capital Partners (www.L2Capital.net) is a boutique lower middle market private equity firm that specializes in making controlling investments in a diverse range of family and founder-built companies with demonstrated market leadership and unlocked potential for growth. L2’s impressive track record over the last decade includes top quartile returns for its portfolio of business services and consumer products companies with enterprise values up to $100 million. L2 Capital adds value by partnering closely with company leadership to meet their strategic and financial goals by providing intimate operational support, including a breakthrough growth framework in addition to access to resources and technology gained over 40 years of principal investing experience.