B$Z: Active Ride Shop Teams Up with Tengram Capital Partners
Active Ride Shop Teams Up with Tengram Capital Partners
Tengram is investing in Active to provide the company with the resources needed to more rapidly expand its business
Press Release from Master Plan Communications
Rancho Cucamonga, CA – July 8, 2014 – Active Ride Shop (“Active”) announced today it has received an undisclosed investment from Tengram Capital Partners (“Tengram”) to build on the brand’s current momentum and to fund future expansion. Tengram, a private equity firm that focuses exclusively on middle-market consumer and retail companies that own exceptional, highly recognizable brands, is investing in Active to provide the company with the resources needed to more rapidly expand its business.
Active currently has 21 retail locations throughout Southern California and a strong and growing ecommerce business. Active’s management team has created its current forward momentum, and with Tengram as an investment partner, the company plans to add more than 30 new doors in the next few years. This will allow the company to expand its partnerships with authentic skate and snow brands.
Active President Esmail Mawjee said, “The Active brand has a very loyal following of customers that return to our shops for the unique experience that’s tied to our roots in skate and snow. Tengram recognized the strength of the Active brand and its unique culture and their investment will support the company in reaching its growth potential.”
As a part of Tengram’s investment, Rick Mina will join the company’s board and advise the Active management team on its growth strategies. Mina has extensive experience in specialty retail, having previously held positions as President and CEO of both Foot Locker (North America and Europe) and Champs Sports.
“I am very excited about the potential of this partnership between Active Ride Shop and Tengram Capital Partners,” said Rick Mina. “The Active management team has a strong knowledge and understanding of the core consumer and the industry. Together, I believe this business can achieve significant growth in both its retail and e-commerce businesses.”
Tengram invests in and partners with companies across the consumer and retail sectors. The firm invests in strong brands and management teams and acts as a catalyst to drive the growth of the companies in which it invests. Tengram's principals have significant consumer expertise and focus on certain segments including apparel, accessories and sporting goods.
Richard Gersten, Partner of Tengram, stated "We have tremendous respect for what Esmail and the Active team have been able to accomplish with the Active brand given its limited resources. We intend to more rapidly grow this business consistent with the company’s focus on its core action sports consumer. Active has always been an influencer in this community."
ABOUT ACTIVE RIDE SHOP:
Established in 1989, Active Ride Shop maintains its position among the top retailers and ecommerce businesses in the action sports industry. Active Ride Shop has 21 retail locations throughout Southern California and a growing ecommerce business. Active Ride Shop sponsors the most elite skateboarders and snowboarders in the world, and is proud of its offering of the new emerging brands and the latest trends in the industry. For more information about Active Ride Shop visit www.activerideshop.com.
ABOUT TENGRAM CAPITAL PARTNERS, LLC:
Tengram Capital Partners, LLC is a private equity firm that focuses exclusively on leading middle-market consumer and retail companies that own strong recognizable brands. The team has a diverse background of consumer investing and operating expertise that assists and guides company management to unlock the true potential of their brand. Tengram invests in both traditional "growth" and "restructuring/turnaround" situations in either the public or private sectors. Previous and current investments for Tengram and its predecessor investment entity, Windsong Brands, LLC, include Deva Curl, Laura Geller Beauty, NEST Fragrances, Sequential Brands Group, Robert Graham, Joe Boxer, Joe's Jeans, Field & Stream, and Design Within Reach. Tengram's website is (www.tengramcapital.com)