$2.5 million funding could spell shopping spree for POW
Ski and snowboarding group POW has secured $2.5 million from Seattle-based investment firm Columbia Pacific Advisors to grow its brands in the outdoor apparel market.
It started in 2002 as a glove company that went on to equip the US and Canadian Olympic snowboarding teams, and now owns POW Gloves, Holden Outerwear and Spacecraft, which sell in 35 countries.
The funding will enable the company to expand its customer base, enter new markets, and upgrade the supply chain and customer-service operations.
“All three of our brands were created by Northwest entrepreneurs, eager to disrupt the marketplace with products that have a style and functionality all their own,” said Greg Danielson, the group’s CEO. “The investment from Columbia Pacific Advisors will allow us to expand our role as one of the leading providers of winter sports apparel in the world and also seek new brands to acquire.”
Kevin Barber, managing director of Columbia Pacific’s growth capital team, said: “Winter sports brands are driven by personality and passion, and POW knows how to cultivate that production and creativity.”
