Kent Outdoors, with over six decades of enhancing outdoor experiences, recently secured a $100 million credit facility from Eclipse Business Capital. This asset-based lending arrangement is part of a broader financial strategy following previous investments from Goldman Sachs and Comvest Partners, aimed at driving the company’s growth and introducing innovative products for outdoor enthusiasts.
Marty Battaglia, CEO of Eclipse Business Capital, expressed satisfaction with the swift completion of this essential financing, achieved through collaboration with Kent, Arete Capital Partners, and term lenders including Goldman Sachs and Comvest Partners.
This new influx of capital will enable Kent to enhance its operational capabilities and leadership. Lee Belitsky, Kent’s Executive Chairman, highlighted the efficient and straightforward process led by Eclipse, which not only strengthens existing partnerships with vendors and customers but also opens avenues for new growth initiatives.
Lee Belitsky, who recently joined Kent as a result of this financial injection, brings extensive experience from his tenure at Dick’s Sporting Goods. Kent also welcomed Rob Otto as the new Chief Financial Officer, following his role at RW Designs and leadership positions at several consumer goods firms including Z Gallerie and Hudson Jeans.
Kent Sowell, vice president at Goldman Sachs, underscored the firm’s support for Kent’s growth trajectory and its revitalized leadership team. The company is poised to innovate and expand its product offerings, particularly focusing on the 2024 season, and to enhance customer engagement and satisfaction.
Kent maintains its focus on key divisions, with veteran leaders like Dave Cook in the Outdoors Division and C.J. Vlahovich in Watersports continuing their long-term tenure. Additionally, Zack Eckert has been promoted within the BOTE brand, bringing extensive outdoor industry experience to his new role as general manager.
Dave Cook commented on Kent’s enduring commitment to core business lines that promise sustainable growth, aiming to stabilize and propel the company forward. Concurrently, Kent is exploring the sale of its bike division, Kona, to better concentrate resources on its thriving water sports segment, acknowledging the broader challenges the bike industry faces post-COVID.
C.J. Vlahovich reflected on the company’s legacy of resilience and innovation, emphasizing the team’s dedication to advancing Kent Outdoors as a leading creator of outdoor lifestyle brands that enhance the enjoyment of nature for enthusiasts everywhere.
