Turtle Fur sold to Camano Capital

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Turtle Fur sold to Camano Capital

Wed, 06/15/2022 - 5:14pm -- tim

 

Vermont Business Magazine Venture 7 Advisors announced today that private equity firm Camano Capital has acquired a majority stake in Turtle Fur of Morrisville. Richard Sontag, owner of Turtle Fur, will retain partial ownership of the company. Venture 7 Advisors served as Turtle Fur’s exclusive advisor in this transaction. Financial terms were not disclosed.

Richard Sontag took the unusual approach of informing his employees and the industry, in advance, of his plans to sell the company. You can read about that decision and how it influenced the sale process here.

Turtle Fur is an iconic and beloved manufacturer and distributor of headwear and accessories in the snow sports, and lifestyle markets. The company invented the fleece neck warmer over 40 years ago, and since then has been keeping outdoor adventurers dry, warm, and comfortable. The capital infusion from Camano will allow Turtle Fur to expand its product offerings while continuing to support its commitment to innovation, sustainability, diversity, equity, and inclusion, and positive community initiatives. 

Venture 7 Partner Scott Hardy says, “It’s always exciting when we have an opportunity to work with an iconic Vermont company like Turtle Fur. Richard Sontag and his entire management team helped us to articulate Turtle Fur’s unique value and culture. We always look for the best financial deal for our client, but in this case finding the right cultural fit and a commitment to Vermont was every bit as important. In Camano Capital, we found a group with sincere respect for Turtle Fur’s mission as well as significant expertise in branded consumer products, apparel, and the outdoor industry.” 

Turtle Fur president Sontag, said, “I’m thrilled to be partnering with Camano Capital. Besides injecting energy and growth potential into the business, they’ll be good stewards of the brand and my Turtle Fur family. And they’re committed to keeping the company here in Vermont.”

About Turtle Fur

Turtle Fur was founded in 1982 by Millie Merrill, who designed the first fleece neck warmer in the basement of her children’s apparel store, the Yellow Turtle, in Stowe, Vermont. She and her husband, John, built the brand until their retirement in 2000, selling Turtle Fur to New York native, Richard Sontag.

Turtle Fur products can be found in more than 3,400 brick and mortar stores and on hundreds of online stores including www.turtlefur.com. The company is rooted in comprehensive environmental initiatives that include extensive use of recycled fibers, significant packaging reductions, and a facility that is 100% powered by renewable energy.

About Camano Capital

Camano Capital is a private equity firm that invests in differentiated, branded consumer companies that appeal to everyday consumers. Camano’s network of investors and advisors includes consumer products industry veterans, operating executives and private equity investors throughout the country, who bring financial, marketing and operational expertise and the resources necessary for accelerated growth. and expansion.

About Venture 7 Advisors

Venture 7 Advisors is a merger and acquisition advisory group that assists the owners of small and mid-sized companies to successfully plan and complete the sale of their business. We find the best buyer to meet each owner’s financial and legacy goals. The company represents clients in consumer products, distribution, manufacturing, B2B services, construction, telecommunications, and eCommerce industries.  Venture 7 maintains offices in Burlington, Vermont, the Hudson Valley, New York, and Western Massachusetts. 

Venture 7 Advisors. Burlington, Vermont. 6.15.2022.