Poler Outdoor Stuff, a Portland, OR, company that designs outdoor gear and apparel, has raised $4.5 million in equity capital from “a large international strategic investor,” with the help from Seattle-based Cascadia Capital LLC.
“There is a shifting consumer preference being led by millennials seeking to purchase unique and unconventional products or brands they have a personal connection with,” said John C. Siegler, a managing director who heads Cascadia consumer and retail practice. “Poler is leading a change in the outdoor market away from overly technical products and stodgy brands, towards well-designed, innovative and creative products that are on-trend, functional and at the right price point. This investment will not only allow Poler to accelerate growth, but will broaden distribution internationally as well as allow management to continue to invest in the product design demanded by and useful to today’s users.”
Poler President Chris Noyes said completing an institutional funding round is a game changer for the young brand.
“The Cascadia team led our outreach process and helped us position the Poler story in a way that did not compromise our brand authenticity,” said Noyes. “Once we determined our partner, Cascadia helped execute and negotiate this complex growth financing.”
“We really wanted a partner whose vision and goals were aligned with the Poler team,” added Benji Wagner, Poler founder and creative director. “We found a strategic investor that provides Poler with enhanced international distribution, a strong balance sheet and supports our creative sense of design that will allow Poler to continue to change the outdoor industry. Cascadia helped us analyze our alternatives and gave us great direction in and confidence with our partner selection.”
Poler represents another successful transaction for Cascadia Capital in the Consumer and Retail space. Recent deals include the growth equity financings of Seattle-based MOD Pizza and Rudy’s Barbershop, the sale of Manna Pro and the acquisition of Pet360 by PetSmart.