Topspin Consumer Partners, a private equity firm focused on the consumer sector, announced that it has made a growth investment in Mission, which specializes in cooling solutions used in sports, outdoor and job site applications.
Topspin is partnering in the deal with the founders of Mission, DCF Capital and Allstar Innovations. Terms of the transaction were not disclosed.
Founded in 2009 and based in the New York metropolitan area, Mission is a developer of proprietary temperature-regulating and cooling technologies that “improve users’ safety, performance and comfort at work, rest and play.” The technologies provide cooling and heat relief in consumer categories such as cooling towels, cooling neck gaiters, cooling hats, cooling socks, etc. The company sponsors a thermoregulation performance lab (Mission Performance & Safety Lab) at the University of Connecticut’s Korey Stringer Institute, which researches heat safety in athletics and other activities. Among Mission’s co-founders and partners are several athletes including 23-time tennis champion Serena Williams, three-time NBA champion Dwyane Wade and NFL champion Drew Brees.
Leigh Randall, the managing partner at Topspin, said, “We are thrilled to invest in the company and work alongside the Mission founders and the Allstar Innovations team. We see enormous opportunity in the growing active consumer market segment, and Mission’s focus on science-based technologies, along with its status as both a thought-leader and pioneer in the category, will give the Company a strong advantage as it scales its business and pursues additional avenues and adjacencies for growth.”
“Mission is focused on delivering world-class solutions that help active consumers get cool and stay cool,” said David Floren, DCF Capital managing partner. “We look forward to partnering with Topspin. The firm’s operational resources and omnichannel consumer expertise will be invaluable as we expand our product offerings and continue exploring opportunities to use our technology in fitness, health and wellness and jobsite settings.”
Photo courtesy Mission
