Palladin Consumer Retail Partners, LLC announced an investment in Leapfrog Brands, a supplier of beverageware.
The investment was completed in partnership with the current owners and senior management team of Kurt Sward, CEO; Rick Ellison, president and COO; Jill Pearson, VP sales and marketing; Glen Gilmore, design director; Austen He, director of sourcing; and Steve Pinelli, director of engineering. The partnership will provide Leapfrog with additional resources to build infrastructure to support its recent growth. The management and operations of the company will not change.
Leapfrog’s products are distributed under three brands, Ello, Zulu and Pogo, primarily through major retail chains and DTC through e-commerce platforms.
Palladin, founded in 1998, is led by Mark Schwartz, CEO and Anders Petersen, managing director, together with its operating partners, will work closely with the company providing marketing, financial, systems, organizational development, and other expertise to help management with the next stage of growth.
KeyBank provided debt financing for the transaction and an unfunded revolving credit facility to support future growth. Advisors to Palladin included Morgan, Lewis & Bockius for legal services, RSM US for accounting and tax, Krauter & company for insurance, and Retail Technology Group for systems. The company was advised by Livingstone Partners and Nixon Peabody.
Photo courtesy Leapfrog
