CriticalPoint Capital LLC, the Los Angeles-based private investment firm, announced that it has completed the acquisition of JackRabbit and its respective stores from The Finish Line Inc.

The company, its stores and e-commerce platform will continue to operate under the JackRabbit brand. A regulatory filing by The Finish Line had indicated that he sale, first announced January 27, was completed on February 24.

At the end of 2016, there were 65 JackRabbit and JackRabbit-affiliated stores in eighteen states with approximately 800 employees.

“During this process it was clear that CriticalPoint Capital shared in our vision and strategy for the JackRabbit brand and would provide the expertise and support to accelerate the execution and growth of the brand,” said Bill Kirkendall, CEO of JackRabbit.  “I have expressed to our employees and business partners that this sale process ended with an outstanding result and with their continued support I am confident about our future as a leading retailer in the running specialty channel.”

In partnership with management, CriticalPoint will support JackRabbit’s continued organic growth strategy, as well as provide the company with additional capital to pursue future acquisitions, which is expected to result in market share gains in the years ahead.

“This acquisition gives us an opportunity to capitalize upon the rapid change in consumer consumption behavior while partnering with one of the top players in the run specialty space,” commented Matt Young, founder and CEO of CPC. “JackRabbit’s strong management team, deep industry knowledge and operational proficiency will lead to continued growth. We are excited to be part of JackRabbit’s brand expansion and development at both the store level and through the e-commerce platform.”

As reported, CriticalPoint Capital paid nothing for the business but is taking on some debt.

Founded in 2012, CriticalPoint Capital is a private investment firm based in Manhattan Beach, CA. The firm is focused on acquiring companies with long-term value creation opportunities and with management teams that can benefit from patient capital and a thoughtful approach to growth.  CPC’s preferred investments are corporate divestitures, companies in a state of transition, and special situations.

Photo courtesy JackRabbit