Moosejaw has landed an undisclosed amount of equity capital from Glencoe Capital's Michigan Opportunities Fund. Glencoe is the second firm to invest in Moosejaw following Parallel Investment Partners in February of 2007. Moosejaw will use the money to “enter promising new retail environments for outdoor active apparel and equipment.
Moosejaw offers products from leading outdoor manufacturers, including The North Face, Arcteryx, Patagonia, and Mountain Hardwear, as well as under its own Moosejaw brand. The company's diverse customer base includes outdoor enthusiasts, active individuals pursuing an outdoor lifestyle, and customers who are passionate about the company's products and its edgy, youthful brand. Founded in Michigan, the company has seven retail stores in the state and in Illinois, a thriving business online, and mails catalogs directly to customers' homes.
“Moosejaw has developed a strong following through unique branding and its customer interaction strategy, which includes a significant and growing online presence as well as followings on Twitter, Facebook and Flickr,” said Jason Duzan, Managing Director of the Michigan Opportunities Fund, which is based in Birmingham, Mich.
“We're on the cusp of significant growth,” said Harvey Kanter, Moosejaw's CEO. “This investment from Glencoe Capital comes at an opportune time, since it allows us to leverage our online platform and enter promising new retail environments for outdoor active apparel and equipment.”
“Moosejaw is poised for growth-and can manage that growth because of its investment in cutting-edge technology alongside its brand profile,” Duzan noted. “We believe the company will demonstrate continuing value in future and will grow in the State of Michigan.”
“Glencoe Capital's investment is in partnership with existing Moosejaw investor, Parallel Investment Partners, a leading investor in high-growth retail concepts.” Moosejaw represents the Michigan Opportunities Fund's third investment. Financial terms of the transaction were not disclosed.
