Igloo Products Corp. has been acquired by an affiliate of ACON Investments, L.L.C., a Washington, D.C.-based private equity firm. ACON purchased Igloo from J.H. Whitney, a Connecticut-based private equity firm, which will maintain a small stake in the company. The terms of the transaction were not disclosed.
Igloo will continue to be led by Chairman and CEO Gary Kiedaisch and other members of the existing management team, who are also purchasing significant interests in Igloo in connection with the transaction. The company will focus on continued growth in the Outdoors, Housewares and Sporting Goods markets, says the company.
“J.H. Whitney has been an excellent partner for Igloo’s initial growth strategy helping us achieve exceptional organic growth over the past five years,” said Kiedaisch. “The entire Igloo management team is looking forward to working with ACON to further grow and leverage the extensive platform the Company has established.”
ACON brings fresh capital and resources to Igloo, including the ability to penetrate new markets and categories through product extensions and acquisitions.
