Capstone Partners advised Igloo Products Corporation, a Katy, Texas-based manufacturer of coolers and outdoor products, on its acquisition of Cool Gear International, a Plymouth, Massachusetts-based manufacturer of hydration and food storage products.
Cool Gear creates reusable products that eliminate disposable plastic waste while promoting healthy lifestyles. Capstone’s former Head of Consumer & Retail Banking, Bill Harrison, stated, “Cool Gear is a high-growth consumer products brand that, with design-driven products, is addressing the growing consumer demand for reusable water bottles and food storage containers. Cool Gear’s design capabilities, loyal customers and established relationship with leading retailers make it an ideal addition to Igloo’s industry-leading position in the cooler and outdoor products sectors.”
Igloo Products Corporation originated the cooler category in 1947 and, ever since, has been a leading brand in the cooler industry. Phil Seefried, President of Capstone Partners, elaborated further, “Igloo is the sixth branded consumer company that Gary Kiedaisch has transformed from underperformer to industry leader. Igloo’s transformation continues with the acquisition of Cool Gear, also an industry leader. Together, Igloo and Cool Gear will have an extremely robust infrastructure and broad portfolio of brands, designs and patents.”
Capstone Partners acted as exclusive financial advisor to Igloo Products Corporation in the transaction. Terms of the transaction were not disclosed.