Salt Lake City, Utah and San Diego, California – June 13, 2018 –
Black Oak Capital Partners, a boutique private equity firm focused on growing lower to middle market companies that are working capital constrained, and HYLETE, a leading e-commerce brand focused on premium performance apparel and gear, completed its final tranche of investments on March 30
th
, 2018.
Established in 2012, HYLETE was created on the core belief that innovation and quality does not have to come with a high price tag; and, that empowering and helping their community to live a healthy life will define their success. By selling direct-to-consumer and bypassing traditional retail, HYLETE is able to give its community premium performance apparel, gear, and footwear at the best value possible.
The senior secured loan from Black Oak has worked to further extend the impact of HYLETE’s equity crowdfunding rounds that have raised over $7.99 million from over 2,900 investors. This additional working capital has allowed the Company to further innovate and expand inventory, make key hires, and increase the marketing budget for content creation.
“Black Oak has been a critical component in our overall capital structure over the past 2 years, allowing us to utilize our crowdfunding rounds to grow the brand while utilizing the majority of their loan to expand inventories and fuel additional product and marketing initiatives,” said Ron Wilson, CEO and Co-founder of HYLETE. “Additionally, this final tranche of financing comes at an ideal time, as we are evaluating and assembling our syndicate for a future IPO (via Reg. A) with a listing on one of the national stock exchanges (NYSE or Nasdaq) or the OTC markets perhaps as early as first quarter of 2019.”
David Fraser, Financial Analyst at Black Oak Capital Partners, stated, “We are extremely impressed by Ron and his ability to successfully raise capital through the Reg. A vehicle alongside our loan. These crowd-source raises are vital proofs of concept and gives weight to the message and brand HYLETE has aspired to create. The Company continues to bite at the heels of its larger competitors and with the infusion of new capital, we believe HYLETE is trending towards significant growth in 2018, with eyes set on an IPO.”
