Lolë is now poised to leverage last three-year 130 per cent growth into international expansion
MONTREAL, April 23, 2014 /CNW/ - A group of strategic and financial
investors led by Bernard Mariette, CEO & President of Coalision Inc.,
have purchased a majority interest in Coalision from Kilmer Capital
Partners. This investment will enable Coalision's growing activewear
brand Lolë to expand its retail and web business internationally as
well as its global wholesale business.
The investor group includes strategic and financial partners that offer
significant opportunities for Lolë through their extensive network,
consumer branded products experience, vast retail and distribution
knowledge as well as their financial and international strength. The
strategic and financial partner group includes Pelican LP, Simon Equity
Partners, a group comprising André Desmarais, certain members of the
Hermès family, and the Fonds de solidarité FTQ.
"This strategic and financial transaction represents a turning point for
Lolë as it confers upon us the network, the expertise and the financial
strength to compete worldwide with major players in the industry. We
believe that this transaction will enable us to achieve our strategic
plan," says Bernard Mariette. He added, "We are particularly pleased
that the founders of the company, Eric D'Anjou and Evelyn Trempe, as
well as Kilmer Capital Partners, who acquired a majority stake in 2008,
will retain a significant minority interest. We feel that our company
is well rooted and will only grow stronger in the future."
"Since 2009, when Bernard became CEO and initially invested in
Coalision, he and his team have been transforming the Company and Lolë
at all levels, from the product offering to the marketing strategy to
the distribution channels. In fact, over the past three years, the team
has profitably grown revenues by over 130 per cent. Under his
leadership and with our new partners, we are convinced that Coalision
and Lolë will continue their success story. We are delighted to remain
a minority shareholder and to be part of the future of Coalision," says
Marie-Claude Boisvert, Managing Partner at Kilmer Capital Partners.
Bernard Mariette concluded by saying that "I want to take this
opportunity to thank our customers, our business partners and our team
for their hard work and on-going support. We are ready and eager to
capitalize on Lolë and Coalision's multiple opportunities."
Lolë designs innovative, feminine and functional activewear inspired by
active, engaged women around the world. This Canadian brand views
well-being as a lifestyle inspired by a healthy blend of urban living,
the great outdoors and physical activity. Lolë activewear is entirely
designed in Montreal and is available in over 1,700 sales outlets
worldwide, in Lolë Ateliers and at www.lolewomen.com
About Pelican Investment Funds
Bernard Mariette founded Pelican Investment Funds LP in 2011 alongside
two partners, Beñat Errandonea and certain members of the Hermès
family. The fund is specialized in lifestyle brands with a focus on the
sports and apparel industry. It is comprised of about 30 shareholders
including senior management of Coalision.
About Simon Equity Partners
Simon Equity Partners is the private investment arm of the Simon family,
founders of Simon Property Group, the largest publicly traded real
estate company in the United States. Simon Equity Partners leverages
its years of retail experience and collective consumer insights to
provide guidance and resources to early and expansion-stage companies.
About Kilmer Capital Partners
Kilmer Capital Partners is a $200 million fund specializing making
private equity investments in small to mid-sized businesses undergoing
periods of rapid growth, significant change or ownership transition.
About the Fonds de solidarité FTQ
Created in 1983, the Fonds de solidarité FTQ is a $9.7 billion
development capital fund based in Quebec and has become a hub of
knowledge and resources for Québec businesses and a key player in the
Image with caption: "Coalision Inc. (CNW Group/Coalision Inc.)". Image available at: http://photos.newswire.ca/images/download/20140423_C4711_PHOTO_EN_39520.jpg
SOURCE: Coalision Inc.
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