Clearview Capital Fund IV, L.P. and its affiliates (Fund IV) announced the recapitalization, in partnership with management, of Revo Brand Group, LLC d/b/a Real Avid.
Real Avid will operate in partnership with Vertikal Brands, a holding company established by Clearview Capital in partnership with, and managed by, former members of the Battenfeld Technologies management team, to pursue the acquisition of premium brands in the outdoor industry. The transaction closed on October 30, 2020.
Headquartered in Plymouth, MN, and founded in 2008, Real Avid designs, manufacturers accessories for shooting sports including gun tools and cleaning supplies.
The recapitalization by Fund IV and partnership with Vertikal Brands is intended to support the company’s growth and category expansion includes seeking out companies who want to join the Real Avid team. In addition, Vertikal Brands will leverage its experience with similarly sized outdoor companies to help its growth.
“We could not be more pleased with our new partnership with Clearview Capital and Vertikal Brands,” commented Roy Wetterstrom, CEO, Real Avid. “We have gotten to know both groups over the past few years and their business model is the perfect fit for us.”
“We watched Real Avid grow as a company and a brand over the last several years and continued to be impressed by the company’s leadership team and reputation for developing premium, high-quality products,” commented Matt Blevins, partner of Clearview Capital. “Together with the financial backing of Clearview and the industry expertise of the Vertikal Brands team, we believe the outlook for Real Avid is incredibly bright.”
“We are extremely excited to be partnering with the incredibly talented Real Avid team,” added Jim Gianladis, CEO, Vertikal Brands and Chairman, Real Avid. “The Vertikal team’s industry experience and focus on growth are a perfect complement to the brand strength and solid foundation Real Avid has built, which collectively will undoubtedly prove to be a formula for success.”
