Headwaters advised Igloo Products Corporation, a Katy, Texas-based manufacturer of coolers and outdoor products, on its acquisition of Cool Gear International, a Plymouth, Massachusetts-based manufacturer of hydration and food storage products.
Cool Gear creates reusable products that eliminate disposable plastic waste while promoting healthy lifestyles. Headwaters’ Head of Consumer & Retail Banking, Bill Harrison, stated, “Cool Gear is a high-growth consumer products brand that, with design-driven products, is addressing the growing consumer demand for reusable water bottles and food storage containers. Cool Gear’s design capabilities, loyal customers and established relationship with leading retailers make it an ideal addition to Igloo’s industry leading position in the cooler and outdoor products sectors.”
Igloo Products Corporation originated the cooler category in 1947 and, ever since, has been a leading brand in the cooler industry. Phil Seefried, Founder & CEO of Headwaters, elaborated further, “Igloo is the sixth branded consumer company that Gary Kiedaisch has transformed from underperformer to industry leader. Igloo’s transformation continues with the acquisition of Cool Gear, also an industry leader. Together, Igloo and Cool Gear will have an extremely robust infrastructure and broad portfolio of brands, designs and patents.”
Igloo’s former CEO, Gary Kiedaisch, added, “Bill has been my M&A advisor for over 15 years and this is another successful and highly attractive deal that was done in large part due to his efforts. I have come to depend on his candid advice, M&A capabilities, ability to identify strategic acquisitions and significant knowledge of the consumer sector.”
Headwaters MB acted as exclusive financial advisor to Igloo Products Corporation in the transaction. Terms of the transaction were not disclosed.
Igloo Products Corp. is a Texas-based international designer, manufacturer and marketer of coolers and other outdoor products and housewares. Founded in 1947, Igloo is responsible for originating the cooler category. For more than 65 years, the Igloo brand has been synonymous with quality, durability and innovation. Offering more than 500 different products, Igloo coolers are sold by more than 110 thousand retailer storefronts around the world. For more information, visit www.igloocoolers.com.
Acon Investments LLC
ACON Investments, L.L.C. is a Washington, D.C.-based international private equity investment firm that manages private equity funds and special purpose partnerships that make investments in the United States and Latin America. Founded in 1996, ACON and its principals have managed over $3.0 billion of capital. ACON pursues a theme-based investment strategy by focusing on industries and businesses at key inflection points in their development and pursues these opportunities in close partnership with established management teams. ACON has offices in Washington, Los Angeles, Mexico City, Sao Paulo and Bogota. For more information, visit www.aconinvestments.com.
About Cool Gear
Cool Gear International creates innovative products that strive to revolutionize the green movement with the hopes of eliminating disposable plastic bottle waste, as well as encourage a healthier and happier you. Through our patented technology, we help provide cool, clean water, as well as fresh, crisp, food for a busy on-the-go lifestyle. Every product has a sleek design that promotes individuality through its unique color and graphics. Consumers need products that fit into their schedule and reflect their personality. For more information, visit www.coolgearinc.com.