January 10, 2013 — Yukon Partners (“Yukon”) announced today that it has completed mezzanine debt and equity co-investments in Kwik Tek, Inc. (“Kwik Tek” or the “Company”). The transaction was an acquisition of the privately-owned business by Guardian Capital Partners (“Guardian”), in partnership with Kwik Tek’s senior management team.Kwik Tek is the leading designer and supplier of branded products for the recreational water sport and snow market, including towables, inflatables, wakeboards, water skis, kneeboards, life jackets, tow ropes and other related products. Under its two primary brands, Airhead and Sportsstuff, the Company has become recognized for its quality, innovation and value. Kwik Tek sells predominantly through sporting good chains, outdoor chains, mass retailers, marine distributors and e-commerce channels.Scott Evans, Partner at Guardian, said, “Yukon was very diligent throughout the investment process and we were impressed with their team’s attentiveness and dedication to due diligence. We are excited to further develop and accelerate Kwik Tek’s growth strategy.”
William Dietz, Managing Partner at Yukon, said, “We are excited about this opportunity to partner with the management team and Guardian to support the investment in Kwik Tek. The Company’s well recognized brand names and strong market position coupled with Guardian’s unique consumer products experience will foster anticipated growth and attractive value creation.”
Kwik Tek (www.kwiktek.com) is a designer and distributor of branded consumer goods for the outdoor recreation industry. The Company has a broad collection of marine water sports products marketed under various brands, including Airhead and Sportsstuff. The Company’s product collection includes towables and other inflatables, wakeboards, water skis, kneeboards, life jackets, personal watercraft accessories, waterproof cases, protective fenders and bumpers, tow ropes and other miscellaneous items. The Company’s products are primarily sold to marine distributors, mass retailers, sporting goods chains, internet retailers and outdoor chains. The Company was founded in 1991 and is headquartered in Denver, CO.
Yukon Partners (www.yukonpartners.com) is a mezzanine finance firm dedicated to serving middle market private equity sponsored business transactions with a typical investment range of $10 to $40 million in the U.S. and Canada. The transactions in which Yukon invests include Buyouts, Growth and Platform Strategies, Recapitalizations, Mergers/Acquisitions, Public to Private Buyouts, and Refinancings. Yukon Partners is based in Minneapolis, Minnesota.
Guardian Capital Partners (www.guardiancp.com) is a private equity firm based in suburban Philadelphia that makes control investments in lower middle market manufacturing, consumer products and service companies. GCP partners with management teams to provide equity capital to lead leveraged buyouts, recapitalizations and divestitures of family-owned businesses and non-core divisions of larger corporations.
For more information, please contact:
William L. Dietz