Moosejaw, a Madison Heights, Mich.-based multi-channel retailer of premium quality outdoor active apparel and equipment, has recieved a growth equity investment from Glencoe Capital’s Michigan Opportunities Fund.
Founded in Michigan, the company has seven retail stores in the state and in Illinois, an online business and mails catalogs directly to customers’ homes.
Commenting on the deal, Harvey Kanter, Moosejaw’s CEO, was reported as saying: “This investment from Glencoe Capital comes at an opportune time, since it allows us to leverage our online platform and enter promising new retail environments for outdoor active apparel and equipment”.
The Michigan Opportunities Fund is a partnership between the public and private sectors aimed to provide equity capital to companies in the State of Michigan or with the prospect of expanding operations into the State. It is managed by Glencoe Capital and invest in lower middle-market companies with EBITDA in excess of $3m and with minimum equity capital requirements of $10m.