Parallel Investment Partners has completed the recapitalization of Moosejaw Mountaineering and Backcountry Travel, Inc. Moosejaw currently serves its customers through six retail stores in Michigan and Chicago, a significant online business through Web sites including moosejaw.com, thejaw.com, thalowdown.com, as well as seasonal catalogs.
Moosejaw was founded in 1992 by Robert Wolfe who was subsequently joined by his siblings, Jeffrey and Julie. Following the transaction, the Wolfes will maintain a significant ownership stake in the company and continue to lead Moosejaw in their current senior management roles.
“Moosejaw is well-positioned for continued strong growth because its selling into a multi-billion dollar market, it has established an exciting and differentiated brand in the category and because Moosejaws founders will continue to lead the company going forward,” said Parallel Investment Partners Managing Director Jed Johnson. “The company is one of the fastest growing retailers in the outdoor apparel and equipment market, and we are very excited about the opportunity to grow Moosejaw by combining the Wolfes passion for the company with Parallels substantial specialty retail expertise.”
“Moosejaw is in the midst of significant double-digit growth, and there is a huge upside opportunity. Our new partnership with Parallel will allow us to expand the online, catalog, retail and private-label businesses more efficiently and more effectively,” said Moosejaw founder Robert Wolfe. “Our goal at Moosejaw is to sell the best gear and outerwear in the world and have as much fun as possible while we do it. Our bizarre and chaotic marketing strategy has created a unique relationship with our customers. We call it Moosejaw Madness. Our culture alongside Parallels retail and consumer expertise will be amazing for Moosejaw.”
The recapitalization closed in January 2007. Financial terms were not disclosed. Moosejaw was advised by Financo, Inc.
