RAF Industries has sold Cool Gear International to Igloo Products
Lincoln International (“Lincoln”), a leading global mid-market investment bank, is pleased to announce that RAF Industries, Inc. (“RAF Industries”) has sold Cool Gear International, LLC (“Cool Gear”) to Igloo Products Corp., the nation’s largest cooler manufacturer and a portfolio company of ACON Investments. The terms of the transaction were not disclosed.
Cool Gear is a high-growth, branded provider of an extensive offering of design-driven products including reusable hydration and water filtration bottles, food storage containers, travel products and other food and drinkware products, many of which incorporate patented thermal technology. Cool Gear’s strong brand is highly regarded by the world’s most prominent retailers and boasts high recognition and loyalty among consumers. The Company’s product portfolio is differentiated through its appealing and creative designs that integrate bold colors, exhibit personality and incorporate functional product features, all at an attractive price point.
Lincoln acted as the exclusive financial advisor to RAF Industries and Cool Gear, working closely with the management team and shareholders throughout the sale process. “Lincoln demonstrated a high degree of knowledge about the branded consumer goods market and the nuances of Cool Gear’s business in particular,” said Rick Horowitz, President and COO of RAF Industries. “Their ability to convey management’s passion for the business, the Company’s brand equity and its unique value proposition to potential investors was critical to our successful outcome.”
About Cool Gear
Cool Gear International, LLC creates innovative products that strive to revolutionize the green movement with the hopes of eliminating disposable plastic bottle waste, as well as encourage a healthier and happier you. Through the Company’s patented technology, Cool Gear helps provide cool, clean water, as well as fresh, crisp food for a busy on-the-go lifestyle. Every product has a sleek design that promotes individuality through its unique color and graphics. Consumers need products that fit into their schedule and reflect their personality. More information about Cool Gear can be obtained at a www.coolgearinc.com.
About RAF Industries
RAF Industries is a closely held private equity firm that acquires mid-market industrial and consumer product companies, as well as niche service-oriented businesses. The firm takes a long-range perspective on creating value, with an emphasis on building lasting partnerships with visionary and ethical entrepreneurs. RAF Industries, which was founded in 1979 by Robert A. Fox and is based in Jenkintown, Pennsylvania, has participated in over 40 buyouts and currently has 15 companies in its portfolio. More information about RAF Industries can be obtained at www.rafind.com.
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