David S. Moross, Chairman and CEO of Falconhead Capital, added, "We are thrilled to announce this transaction and to partner with Aaron Kramer and Mike Noell to enhance the value of Kwik Tek for the benefit of all its stakeholders. Kwik Tek's leadership team has done a tremendous job growing the Airhead, Sportsstuff, and Yukon Charlie's brands all while developing a scalable multi-channel distribution footprint. Kwik Tek offers a strong platform to innovate and enhance its already exceptional brands. This will provide the foundation to accelerate growth and offer substantial upside through various paths of expansion."
Investment banking firm Lazard Middle Market, LLC acted as exclusive financial advisor to Kwik Tek. The law firm Greenberg Traurig, LLP served as legal counsel to Falconhead Capital. JPMorgan provided senior revolver financing for the transaction and LBC Credit Partners provided senior term financing.
About Falconhead Capital (www.falconheadcapital.com)
Falconhead Capital, LLC is a middle market private equity firm established in 1998 to provide investors with significant long-term capital appreciation by investing in consumer sports, leisure and lifestyle businesses. Falconhead's current portfolio includes GPS Industries, Javo Beverage Company, and Multi-Flow Industries. Past Falconhead investments include, among others, NYDJ Apparel, Rita's Water Ice, Competitor Group, Escort Holdings, National Powersport Auctions, Maritime Telecommunications Network, and ESPN Classic Europe, Golf Warehouse.com and Tickets.com
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SOURCE Falconhead Capital, LLC