MANHATTAN BEACH, CA – CriticalPoint Partners, LLC (“CriticalPoint”) is pleased to announce that it acted as exclusive financial advisor to Xcel Wetsuits (“Xcel” or “the Company”), a global leader in protective sports equipment for watermen and a portfolio company of Wedge Brands, on its investment from Gladstone Capital Corporation (Nasdaq:GLAD) (“Gladstone Capital”). The investment from Gladstone Capital will provide Xcel with flexible capital to invest in growth initiatives and help accelerate the Company’s international expansion plans.
Founded in 1982 on the North Shore of Oahu, Hawaii, Xcel designs and markets high-quality, innovative equipment and apparel for the surfing, diving, and paddleboarding categories. The Company’s products are distributed through specialty retail stores both domestically and internationally as well as through e-commerce channels. Xcel’s passionate focus on product design, revolutionary materials, and best-in-class manufacturing has revolutionized the watersports industry.
Jarka Duba, a Director at Xcel commented, “The CriticalPoint team was the key to success in this transaction. We were extremely pleased with their attention to detail and impressed by their focus on deal execution throughout the process. They were an invaluable resource in finding the right investor for the next stage of Xcel’s growth and delivering an excellent outcome for all stakeholders.”
CriticalPoint served as the exclusive financial advisor to Xcel in connection with the transaction. The transaction, led by Nick Cipiti on behalf of CriticalPoint, demonstrates the firm’s expertise in middle market consumer products transactions and commitment to act as a trusted advisor with proven abilities to deliver for its clients.
To learn more about Xcel, please visit http://www.xcelwetsuits.com.
About CriticalPoint Partners
Headquartered in Los Angeles, CriticalPoint Partners is a leading middle market M&A advisory and investment banking firm focused on sourcing, negotiating, and executing a range of corporate finance solutions to enhance shareholder value while building long-term partnerships with our clients. To learn more, please visit www.criticalpointpartners.com.
Please contact Diane Cabo or Nick Cipiti with any questions about this transaction.
Direct: (310) 321-4172
Mr. Cipiti is a Registered Representative of and Securities Products are offered through BA Securities, LLC Member FINRA (www.FINRA.org), SIPC (www.SIPC.org). CriticalPoint Partners, LLC and BA Securities, LLC are separate and unaffiliated entities. Any testimonial or endorsement may not be representative of the experience of other customers and is no guarantee of future performance or success.
Transaction completed in conjunction with BA Securities.