Active Ride Shop has received an investment from Tengram Capital Partners that will be used to fund the future expansion of the company.
Active Ride Shop is a brick and mortar and ecommerce retailer of skateboards, skate shoes, clothing, accessories and snowboards. The company has 21 retail locations throughout Southern California and plans to add more than 30 new stores in the next few years. The company was founded in 1989 and is based in Rancho Cucamonga, CA (www.activerideshop.com).
As a part of Tengram’s investment, Rick Mina will join the company’s board and advise the Active management team on its growth strategies. Mr. Mina has experience in specialty retail, having previously held positions as President and CEO of both Foot Locker (North America and Europe) and Champs Sports.
“I am very excited about the potential of this partnership between Active Ride Shop and Tengram Capital Partners,” said Mr. Mina. “The Active management team has a strong knowledge and understanding of the core consumer and the industry. Together, I believe this business can achieve significant growth in both its retail and e-commerce businesses.”
Tengram Capital Partners invests in companies in the branded consumer products and retail sectors. Specific areas of interest include apparel, sporting goods, consumer electronics, home furnishings, health and beauty, spirits, and food & beverages. Tengram was founded in 2010 by William Sweedler and Matthew Eby and is based in Westport, CT (www.tengramcapital.com).
“The Active brand has a very loyal following of customers that return to our shops for the unique experience that’s tied to our roots in skate and snow. Tengram recognized the strength of the Active brand and its unique culture and their investment will support the company in reaching its growth potential,” said Active President Esmail Mawjee.
“We have tremendous respect for what Esmail and the Active team have been able to accomplish with the Active brand given its limited resources,” said Richard Gersten, Partner of Tengram. “We intend to more rapidly grow this business consistent with the company’s focus on its core action sports consumer. Active has always been an influencer in this community.”
2014 PEPD • Private Equity’s Leading News Magazine • 7-9-14
