L2 Capital Partners, L.P. announced the recapitalization of YakAttack, LLC, a manufacturer of branded mounted aftermarket accessories primarily used to outfit and rig kayaks for fishing.
Founded in 2009 by Luther Cifers, and headquartered in Farmville, VA, YakAttack’s products are designed and manufactured in the United States. The funding comes as “participation in kayak fishing has nearly tripled between 2010 and 2019 and now represents approximately 7 percent of 45 million annual fishing participants,” said the company.
YakAttack is L2 Capital’s second outdoor products platform.
Connor McMahan, partner, L2 Capital said, “L2 Capital is excited to partner with Luther and the management team to further develop YakAttack as a leading brand in the kayak fishing industry. We seldom see the combination of in-house design, manufacturing and an authoritative brand within a rapidly growing sector, but when we witnessed Luther and his team developing their own molds and tools in-house during the factory tour, we knew that this was a unique opportunity to partner with such a talented team of enthusiasts”
Lorin Wolfe, partner and chief operating officer, L2 Capital, added, “We’re excited to help YakAttack achieve breakthrough growth through the development of a business and organizational strategy focused on leveraging its product development capabilities and expanding its sales channels and distribution networks.”
Luther Cifers, founder and president, YakAttack said, “I am extremely excited about our new partnership with L2 Capital Partners. L2’s track record of helping founder-led companies maximize their potential is impressive, and their core values and vision for what YakAttack can become really resonated with our team.”
Salem Investment Partners and Oxer Capital provided debt financing and co-invested in the transaction. The terms of the transaction were not disclosed.
Photo courtesy YakAttack
