North Castle Partners and its co-investors have completed an investment in Ignite USA, a developer and marketer of thermal mugs and hydration bottles.
Ignite USA is a developer and marketer of reusable, environmentally friendly thermal mugs and hydration bottles. Ignite brands include Contigo and Avex. In addition to its direct-to-consumer sales, the company sells its products through the club, mass, sporting goods, and specialty retail channels. Ignite is headquartered in Chicago (www.gocontigo.com or www.avexsport.com).
North Castle’s investment in Ignite is being made in partnership with the company’s CEO Sami El-Saden. “I am excited to partner with North Castle and to leverage North Castle’s expertise and resources in building consumer product businesses and brands to take our company to its next level,” said Mr. El-Saden. “I was impressed by their knowledge of the industry, their values and commitment to partnership, and the expertise of their team in the areas of strategy and brand as we grow in both the mass and specialty markets.”
North Castle makes control investments in consumer-driven product and service companies located in North America with enterprise values ranging from $50 million to $500 million. Sectors of interest include: beauty & personal care; consumer health; fitness, recreation & sports; home & leisure; and nutrition. North Castle is headquartered in Greenwich, CT (www.northcastlepartners.com).
“North Castle’s mission is to invest in companies that provide high quality, innovative products which promote healthy and sustainable living,” said Alison Minter, a North Castle Managing Director. “We intend to support the acceleration of Ignite’s growth by leveraging our experience with innovation-driven product businesses, such as Cascade Sports and Octane Fitness, as well as companies with mass market distribution and channel expansion experience, including Atkins Nutritional, Enzymatic Therapy, Flatout Flatbread, Leiner Health Products, and Avalon Natural Brands. We are proud to welcome Sami and the Ignite team into the North Castle family.”
“We are excited to partner with another impressive entrepreneur in the second investment from our NCP V fund. We look forward to working with Sami and the Ignite team in building a global leader in two of the fastest growing segments of the housewares industry,” said Chip Baird, North Castle’s Managing Partner.
© 2013 PEPD • Private Equity’s Leading News Magazine • 4-4-13
