Leading global cooler manufacturer Igloo was acquired by Washington, D.C.-based private equity firm ACON Investments from Connecticut-based private equity firm J.H. Whitney.
ACON said J.H. Whitney will continue to maintain a small, but undisclosed, stake in the company. Igloo will continue to be led by chairman and CEO Gary Kiedaisch and other members of the existing management team who are also purchasing significant interests in Igloo in connection with the transaction. The company will focus on continued growth in the outdoors, housewares and sporting goods markets.
"J.H. Whitney has been an excellent partner for Igloo's initial growth strategy helping us achieve exceptional organic growth over the past five years. The entire Igloo management team is looking forward to working with ACON to further grow and leverage the extensive platform the company has established,” said Kidaisch. “ACON brings fresh capital and resources to Igloo, and their diversified portfolio and expertise provides Igloo with the ability to penetrate new markets and categories through product extensions and acquisitions. We are very excited about this new partnership with ACON and the benefits it will bring to our valued trade partners.”