Columbia Pacific Advisors, a Seattle-based alternative investment firm, announced today it completed the sale of POW Gloves, Holden Outerwear and Spacecraft Collective, three active outdoor apparel brands under the POW Holdings, LLC umbrella.
POW Gloves was sold to Rojo Australia, a snow apparel company based in Torquay, Australia, with international links in the snow market globally. Rojo has retained the executive team and is working on a business-as-usual approach for all markets, announced the company.
Holden Outerwear was sold to private investors. Holden Outerwear was founded by professional snowboarder Mikey LeBlanc and designer Scott Zergebel with a mission to create apparel built on values of quality, style, fit and environmental awareness. Both LeBlanc and Zergebel will continue with the brand under the new ownership.
Spacecraft Collective was sold to Omen Longboards, a skateboard company based in Lynnwood, Wash. Spacecraft Collective makes headwear, apparel and accessories, merging art with outdoor activities.
D.A. Davidson & Co., a nationwide investment bank, served as the exclusive financial advisor to POW Holdings, LLC. Transaction terms were not disclosed.
“We are pleased to have completed the sale along with finding appropriate buyers for each of these brands – D.A. Davidson was a fantastic advisor,” said Kevin Barber, Managing Director at Columbia Pacific. “We appreciate D.A. Davidson’s persistence and dedication in seeing this process to a close.”
