“Solo Stove is one of the first digitally native outdoor brands to achieve critical mass. The Company excels at designing products that are loved by ultralight hikers, car campers, and backyard enthusiasts alike. We see a tremendous opportunity for our in-house IT group, Bertram Labs, to augment the Company’s digital capabilities and help accelerate brand awareness,” said Ryan Craig, Partner at Bertram Capital.
Solo Stove’s first camp stoves were created to satisfy the exacting needs of backcountry adventurers. Today, the Company’s elegant, functional products have become must-haves for anyone who loves spending time outdoors with friends and family. The Company has a rapidly growing base of passionate, loyal evangelists who love telling others about Solo Stove and offer feedback to ensure that the Company stays true to its values.
“We are thrilled to partner with Bertram Capital to help us pursue our next phase of growth. The Bertram team differentiated itself through its clear understanding of our brand, our products and the favorable adoption trends in our market,” said John Merris, CEO of Solo Stove. “We are excited about their shared enthusiasm for our potential and the technology capabilities Bertram Labs can bring to our business.”
“Having worked with John Merris, who played an instrumental role in our success at Clarus Glassboards over three years under Bertram’s ownership, we are excited to support him at the helm of Solo Stove,” added Jeff Drazan, Managing Partner of Bertram Capital. “We also look forward to partnering with Solo Stove’s co-founders, Jeff and Spencer Jan, who will remain actively involved in operations and retain significant ownership in the Company.”
Bertram would like to recognize the investment banking team at Cowen, led by Rob Parker and Eric VanDam, for their efforts in closing this transaction and making this partnership possible.
About Solo Stove
Solo Stove is the leader in the portable fire pit market. The Company’s patented airflow design leads to ultra-efficient combustion, producing limited smoke and enhancing the customer experience. For more information, visit solostove.com.
About Bertram Capital
Bertram Capital is a private equity firm with over $1.4 billion in committed capital targeting investments in lower middle market companies. In addition to supplying strategic growth capital, Bertram Capital leverages proprietary processes and services, Bertram High-5SM and Bertram Labs, to empower its portfolio companies to unlock their full potential. The Bertram High-5SM is an operationally-focused value creation strategy, which includes supporting management, implementing operational initiatives, acquiring complementary businesses, enhancing sales and marketing efforts, leveraging technology and IP. The cornerstone of this strategy is Bertram Labs, its in-house technology team, which drives growth and value through digital marketing, e-commerce, big data and analytics, application development and internal and external platform optimization. Visit www.bcap.com for more information.
SOURCE Bertram Capital