DENVER and TAMPA, Fla. and NEW YORK, May 17, 2018 /PRNewswire/ -- The principals of Parcrest Advisors ("Parcrest") have acted as the exclusive investment banking advisors to CleverTraining on its sale to JackRabbit ("JackRabbit"). JackRabbit is a national specialty retailer of athletic goods backed by CriticalPoint Capital ("CPC"). The deal brings together two specialty omnichannel fitness gear and technology retail leaders.
Over the last decade, CleverTraining rapidly grew into a multichannel & international retailer providing a curated product selection to fitness enthusiasts across multiple sports and activities (e.g., triathletes, endurance athletes, outdoor enthusiasts).
"We are pleased to have worked with Parcrest Advisors in completing this deal. They served as trustworthy advisors who drew on a deep well of experience and knowledge in e-commerce," said Andrew McSwain, Co-Owner of CleverTraining.
"CleverTraining is a perfect addition to our company to further our commitment to offering the most complete product offerings and experiences to the active lifestyle enthusiasts," said Bill Kirkendall, CEO, JackRabbit.
"The CleverTraining management team has thoroughly impressed us with their ability to reach and inspire their dedicated customer base," stated CPC Partner Brad Holtmeier.
"This is a great merger between two active lifestyle retail brands and our firm will continue to build upon its momentum with even more deals to come," said James C. Lee, Co-Founder and Managing Partner of Parcrest Advisors.
"We are grateful to have had the opportunity to utilize our extensive background in e-commerce and omnichannel retail M&A in facilitating this accretive deal between CleverTraining and JackRabbit," said John Z. Fang, Co-Founder and Managing Partner of Parcrest Advisors.
CleverTraining is an omnichannel retailer of fitness gear and technology. From cycling to swimming and everything in between, its products span the spectrum of team and individual sports, as well as outdoor activities.
ABOUT CRITICALPOINT CAPITAL
Founded in 2012, CriticalPoint Capital is a private investment firm based in Manhattan Beach, CA. The firm is focused on acquiring companies with long-term value creation opportunities and with management teams that can benefit from patient capital and a thoughtful approach to growth.
ABOUT PARCREST ADVISORS
Parcrest Advisors is a multidisciplinary cross-border investment bank based in New York City co-founded by James C. Lee and John Z. Fang. In order to provide securities-related services discussed herein, certain principals of Parcrest are licensed with Independent Investment Bankers, Corp. member FINRA & SiPC. Independent Investment Bankers, Corp. and Parcrest are not affiliated entities. Further information about Parcrest is available at www.parcrest.com.
SOURCE Parcrest Advisors