johnnie-O Receives a Capital Investment from Wasatch Global Investors and Ares Management Corporation to Accelerate Growth
25 April 2022 - 2:00PM
Business Wire
johnnie-O, the next great iconic American brand, today announced
that it has closed an investment of $108 million from Wasatch
Global Investors (“Wasatch”) and Ares Management Corporation
(“Ares”) funds.
johnnie-O is a premium lifestyle brand differentiated by its
loyal and passionate consumer following, high quality product, and
omnichannel balance, resulting in superior financial performance
and consistently high sales and profit growth. The mass
casualization of America has allowed johnnie-O the market
opportunity to provide consumers of all ages with a broad range of
unique upscale lifestyle apparel, wearable on numerous occasions,
including at the office, on the golf course, on the beach or an
evening out.
The johnnie-O brand and logo have resonated deeply with
consumers, resulting in a shared sense of community and success
across each of its channels. The Company’s e-commerce channel has
contributed significantly to the Company’s success, while the
wholesale and johnnie-O retail store channels have enjoyed
similarly high levels of growth. The Company expects to continue to
drive and broaden the brand in 2022, and to grow its presence
across all channels.
johnnie-O’s sales and EBITDA grew by more than 80% in 2021. This
financing positions the Company to continue its growth trajectory
and support the johnnie-O brand, further nurture its relationship
with consumers and retail partners, and broaden its investor base.
After giving effect to the financing, Wasatch and Ares funds
collectively will hold a minority interest in the Company.
Brian Goldman, Partner at Ares, said, “We are excited to provide
flexible capital in support of johnnie-O’s strong growth plans.
This investment dovetails with Ares’ strategy of investing
alongside companies with strong brands, compelling track records
and best in class management teams.”
Dave Gatto, CEO of johnnie-O, commented, “We are delighted to
partner with such high caliber firms as Wasatch and Ares as we
continue to grow our brand and community and build the next great
iconic American brand.”
John O’Donnell, Founder of johnnie-O, said, “I am so proud of
our team and humbled by the growth of our business which has
resulted from the consistent engagement of our loyal consumers and
trusted retail partners.”
About johnnie-O: johnnie-O was founded by John O’Donnell
in Santa Monica, CA. johnnie-O currently offers a range of premium
apparel, footwear and accessories for men and boys. The collection
includes polos, button-downs featuring the patented “Tweener
Button”, bottoms, swim, outerwear and a line of PREP-FORMANCE™ gear
for the active lifestyle. johnnie-O is available online at
www.johnnie-O.com, and at specialty retailers and golf and racquet
clubs across the United States. @johnnieobrand
About Wasatch Global Investors Wasatch Global Investors
is a comprehensive small-cap equity manager singularly focused on
delivering excellent risk-adjusted returns for its clients. The
firm is a 100 percent employee-owned investment manager founded in
1975 and headquartered in Salt Lake City, Utah. Wasatch has $33
billion in assets under management. Wasatch Global Investors is
registered with the Securities and Exchange Commission under the
Investment Advisers Act of 1940.
About Ares Management Corporation Ares Management
Corporation (NYSE: ARES) is a leading global alternative investment
manager offering clients complementary primary and secondary
investment solutions across the credit, private equity, real estate
and infrastructure asset classes. Ares seeks to provide flexible
capital to support businesses and create value for its stakeholders
and within its communities. By collaborating across our investment
groups, we aim to generate consistent and attractive investment
returns throughout market cycles. As of December 31, 2021, Ares
Management Corporation's global platform had approximately 2,100
employees operating across North America, Europe, Asia Pacific and
the Middle East and approximately $314 billion of assets under
management, including Ares Management’s acquisition of AMP
Capital’s Infrastructure Debt platform which closed February 10,
2022. For more information, please visit www.aresmgmt.com.
William Blair & Company, L.L.C. served as the exclusive
financial advisor to johnnie-O and Finn Dixon & Herling LLP
served as legal counsel.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20220425005132/en/
Dave Gatto CEO, johnnie-O
dave@johnnie-O.com (858) 353-9215
Ares Management (NYSE:ARES)
Historical Stock Chart
Von Mär 2024 bis Apr 2024
Ares Management (NYSE:ARES)
Historical Stock Chart
Von Apr 2023 bis Apr 2024