Steelpoint Capital exits lifestyle clothing business PrAna


yoga_sqConsumer-focused private equity firm Steelpoint Capital Partners has exited lifestyle clothing brand PrAna to Columbia Sportswear Company in a $190m cash deal.

The New York-based firm had a majority stake in PrAna, which provides day-to-day clothing as well as fitness gear for pastimes including rock climbing and yoga.

PrAna’s sales grew at a compound annual rate of more than 30 per cent between 2010 and 2013, and are on pace to pass $100m this year, the company said.

It currently sells its products through specialty and online retailers across North America as well as company-owned direct-to-consumer channels, including 5 US retail stores, a US ecommerce site and direct-mail catalogues.

Copyright © 2014 AltAssets