Johnnie-O Receives Capital Investment from Wasatch Global Investors and Ares Management Corporation to Accelerate Growth
johnnie-O, America’s next big iconic brand, today announced the closing of a $108 million investment from Wasatch Global Investors (“Wasatch”) and Ares Management Corporation (“Ares”) funds.
johnnie-O is a premium lifestyle brand differentiated by loyal and passionate consumers, high quality products and omnichannel balance, resulting in superior financial performance and consistent growth in sales and revenue. profits. America’s massive casualization has enabled johnnie-O to offer consumers of all ages a wide range of unique, high-end lifestyle apparel that can be worn on many occasions including the office, the field golf, at the beach or in the evening. outside.
The johnnie-O brand and logo resonated deeply with consumers, resulting in a shared sense of community and success across each of its channels. The company’s e-commerce channel has contributed significantly to the company’s success, while the Johnnie-O wholesale and retail channels have seen equally high levels of growth. The Company plans to continue to drive and expand the brand in 2022, and grow its presence across all channels.
Johnnie-O’s sales and EBITDA grew by more than 80% in 2021. This funding allows the Company to continue its growth trajectory and support the johnnie-O brand, deepen its consumer relationships and business partners and expand its investor base. Upon completion of the financing, the Wasatch and Ares funds will collectively hold a minority stake in the Company.
Brian Goldman, Partner at Ares, said, “We are delighted to provide flexible capital to support Johnnie-O’s strong growth plans. This investment fits into Ares’ strategy of investing alongside companies with strong brands, compelling track records and top-notch management. teams.”
Dave Gatto, CEO of johnnie-O, said, “We are thrilled to partner with high-caliber companies such as Wasatch and Ares as we continue to grow our brand and our community and build the next great iconic American brand. .
John O’Donnell, Founder of johnnie-O, said, “I am so proud of our team and humbled by the growth of our business that has resulted from the continued engagement of our loyal consumers and trusted business partners.
johnnie-O was founded by John O’Donnell in Santa Monica, California. johnnie-O currently offers a range of premium clothing, footwear and accessories for men and boys. The collection includes polo shirts, button-up shirts with the patented “Tweener button”, bottoms, swimwear, outerwear and a range of PREP-FORMANCE™ gear for the active lifestyle. johnnie-O is available online at www.johnnie-o.com, and at specialty retailers and golf and racquet clubs across the United States. @johnnieobrand
About Wasatch Global Investors
Wasatch Global Investors is a comprehensive small cap equity manager that is solely focused on delivering excellent risk-adjusted returns for its clients. Founded in 1975 and based in Salt Lake City, Utah, the firm is a 100% employee-owned investment manager. Wasatch has $33 billion in assets under management. Wasatch Global Investors is registered with the Securities and Exchange Commission under the Investment Advisers Act of 1940.
About Ares Management Corporation
Management company Ares ARES is a leading global alternative investment manager providing clients with complementary primary and secondary investment solutions across credit, private equity, real estate and infrastructure asset classes. Ares seeks to provide flexible capital to support businesses and create value for its stakeholders and within its communities. By collaborating across our investment groups, we aim to generate consistent and attractive investment returns throughout market cycles. As of December 31, 2021, Ares Management Corporation’s global platform had approximately 2,100 employees operating in North America, Europe, Asia-Pacific and the Middle East and approximately $314 billion in assets under management, including Ares Management’s acquisition of infrastructure debt platform AMP Capital which closed February 10, 2022. For more information, please visit www.aresmgmt.com.
William Blair & Company, LLC served as exclusive financial advisor to johnnie-O and Finn Dixon & Herling LLP served as legal advisor.