Investment Summary

Camano Capital and Convergent Capital Partners Invest In Turtle Fur

On June 7, 2022, private equity firm Camano Capital and growth capital firm Convergent Capital Partners invested in apparel/textiles company Turtle Fur

Investment Highlights
  • This is Camano Capital’s 1st and Convergent Capital Partners’ 3rd transaction in the Apparel/Textiles sector.
  • This is Camano Capital’s 2nd and Convergent Capital Partners’ 62nd transaction in the United States.
  • This is Camano Capital’s 1st and Convergent Capital Partners’ 2nd transaction in Vermont.

Investment Summary

Date 2022-06-07
Target Turtle Fur
Sector Apparel/Textiles
Investor(s) Camano Capital
Convergent Capital Partners
Deal Type Stake Purchase

Target

Turtle Fur

Morrisville, Vermont, United States
Turtle Fur is a manufacturer of Comfort-focused headwear and accessories in the outdoor, snow sports, and lifestyle markets. Turtle Fur was founded in 1982 and is based in Morrisville, Vermont.

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Investor(S) 2

DESCRIPTION

Camano Capital is a private equity firm that seeks to invest in differentiated, branded consumer companies that appeal to everyday consumers. The Firm has a particular interest in businesses facing capital constraints, sourcing challenges, customer concentration, and other special situations and targets profitable companies with $500K to $5 million of EBITDA. Specific areas of interest include food, beverages, fitness, personal care, housewares, pets, and other consumer products. Camano Capital was formed in 2018 and has offices in Seattle and Minneapolis.


DEAL STATS #
Overall 3 of 3
Sector (Apparel/Textiles) 1 of 1
Type (Stake Purchase) 1 of 1
State (Vermont) 1 of 1
Country (United States) 2 of 2
Year (2022) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-08-25 E-Cloth

Kent, United Kingdom

E-Cloth is a manufacturer of environmentally-friendly microfiber cleaning products, distributing its products across direct-to-consumer, e-commerce, and retail channels. E-Cloth is based in Kent, United Kingdom.

Buy -
Investor
DESCRIPTION

Convergent Capital is a private investment firm that provides growth and debenture financing to late-stage growth companies. Convergent prefers to commit $3 to $12 million per transaction in businesses with at least $10 million in revenues. Convergent is a generalist investor and will consider businesses in a wide range of industries. Investment funds are typically used to assist growth, but the firm can also structure investments around buyouts, recapitalizations, consolidations, and add-on acquisitions. Convergent is licensed as a SBIC. Convergent Capital was formed in 1999 and is based in Minneapolis, Minnesota.


DEAL STATS #
Overall 62 of 62
Sector (Apparel/Textiles) 3 of 3
Type (Stake Purchase) 2 of 2
State (Vermont) 2 of 2
Country (United States) 62 of 62
Year (2022) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-02-03 AR500 Armor

Phoenix, Arizona, United States

AR500 Armor manufactures body armor and related accessories primarily for direct-to-consumer use as well as select law enforcement and public safety professionals. AR500 Armor was founded in 2012 and is based in Phoenix, Arizona.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-11-16 DataPath

Duluth, Georgia, United States

DataPath is a designer, integrates, manages and deploys satellite communication systems for military and commercial customers. Solutions include multi-band SATCOM terminals, network control software to manage and control communication networks, and global field support services. DataPath was established in 1982 and is based in Duluth, Georgia.

Sell -