L2 Capital Partners has sold its camping equipment platform Worldwide Camping to Clearview Capital.
L2 formed Worldwide Camping to acquire sister companies Insight 2 Design and Elevate in March 2018. Insight 2 Design is a product development company specializing in battery lighting and camping equipment, and Elevate, is a designer and manufacturer of camping equipment including tents, shelters, lights, outdoor furniture, and sleeping bags. Elevate sells its products primarily through online retailers under the company-owned brand Core Equipment.
Both Insight 2 Design and Elevate are headquartered in Overland Park, Kansas, and together provide a full suite of camping equipment to the consumer market.
“L2 Capital was a great partner who truly understood the business from day one and helped us strategically scale the team and business to position the company for rapid growth,” said Worldwide Camping Co-CEO Nick Vaughn. “It has definitely been a win-win partnership, and we wish the L2 Capital team and its partners continued success.”
L2 Capital is a lower middle-market family office that makes control and minority investments in companies that have revenues from $10 million to $75 million and EBITDA from $2 million to $8 million. Sectors of interest include technology-enabled services; business services; e-commerce/direct marketing; consumer products; manufacturing; and environmental products. L2 was founded by Bob Levine in 2011 and is headquartered in the Philadelphia suburb of Devon, Pennsylvania.
“It has been a pleasure working with the leadership team of Worldwide Camping over the past several years to drive significant growth across the business, expand to new products and services, and increase market share across all of the product lines,” said Mr. Levine. “L2 believes that the company will continue to grow, and we wish them the best with their new partners.”
Clearview Capital invests from $15 million to $100 million of equity in companies that have from $4 million to $20 million of EBITDA. Sectors of interest include business services, consumer, healthcare services, manufacturing, and specialized distribution.
Clearview is currently making investments from Clearview Capital Fund IV LP which closed in July 2018 with $550 million of capital. The firm was founded in 1999 and is headquartered in Stamford with an additional office in Los Angeles.
TM Capital was the financial advisor to Worldwide Camping and Troutman Pepper provided legal services.
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