About Us
Who are we?
MICHAEL NICHOLSON
Co-Founder
ALAN RICE
Co-Founder
What are we looking for?
Company
- Software / technology
- Shipping and logistics
- Gear repair and recycling
- Gear rental
- Education and certification
- Tour operators / hospitality
- Upfitters / refitters
- Specialty retail
- E-Comm / specialty brands
Financial
- $2+ million of annual revenue
- $0.5 - $5 million of operating profit
- History of profitability and growth
- Strong employee culture
- Loyal customer base with reoccurring demand
Transaction
- Founder interested in exiting or reducing day-to-day involvement
- Founders who want help with the “boring” admin stuff
- Founder interested in preserving their team and legacy
- Growth opportunities through product, service or geographic expansion
- Full or majority acquisition
We’re not private equity. We’re not venture capital.
We’re a different (and better) kind of partner.
Our Approach
- The outdoor industry ebbs and flows – we’re partnering with businesses for decades to grow them sustainably and to better weather the tough years
- We take over day-to-day management. You can move on to your next adventure, or stay on and keep doing the fun stuff
- We’re committed to keeping and investing in your team
- We like solving the “boring” administrative stuff
- Our focus is to be a positive and inclusive force in the outdoor community while providing founders an attractive exit opportunity they’re proud of
Private Equity
- Flips company in 3-5 years (fund cycles)
- Growth often focused on cost cuts
- Maximizing debt to maximize returns
- Short-term returns > culture and continuity
- No commitment to the broader outdoor industry
Venture Capital
- No cash to founders until future sale or IPO
- Focused on the next fundraising round
- Cash-burning “boom or bust” growth strategy
- Pressure to produce 10-100x returns
- High failure rate