Bluetorch Inc. (formerly Aussie Apparel Group Ltd.)
has engaged OakTree Partners, an investment banking firm located in Newport Beach, California to identify and qualify acquisition candidates. Additionally, OakTree will provide access to private and institutional capital
markets for Bluetorch's expansion program.
The principals at OakTree Partner have been highly successful in providing
qualified acquisition and/or merger candidates for their clients. Their
managing partner, Greg Banghart, was the founder of the specialty sporting
goods chain Achilles Heel, which preceded the Athlete's Foot and Foot Locker
chains. He has been involved in the investment-banking sector for more than
ten years with a very strong background in the apparel industry.
“We have been instrumental in providing substantial capital for similar
clients in recent years and our experience level in the apparel and sporting
goods industry will allow our firm to rapidly access potential acquisition
candidates for Bluetorch,” stated Banghart.
Bruce MacGregor, President & CEO of Bluetorch Inc. said, “Their experience
in identifying and closing acquisitions will be particularly helpful, since we
are looking at opportunities to acquire companies that can accelerate our
growth. We have directed OakTree to look for entities that are profitable and
doing anywhere from $15 to $25 million in annual revenues. The prospective
entity must be in the extreme sports arena and will compliment our existing
portfolio of brands, including Bluetorch(TM), Hot Tuna(R) and TSA(R), both in
terms of the category and the channel of distribution.”
According to Greg Banghart, OakTree Partners Managing Director, “We
believe Bluetorch Inc. has tremendous potential. We especially like their
branding and industry experience. With management's vision and with
additional capital they will become a dominant force in the extreme sports
lifestyle apparel industry.”
