Marriott & Co. Serves as Exclusive Financial Advisor to YakAttack
Richmond, Va. — Marriott & Co., a premier middle market investment banking firm based in Richmond, VA, is pleased to announce that it served as the exclusive financial advisor to YakAttack LLC (“YakAttack” or the “Company”) in its recapitalization by L2 Capital Partners, L.P. (“L2”), a lower-middle-market private equity firm based in Devon, PA. The transaction closed on October 21, 2021. Salem Investment Partners and Oxer Capital provided debt financing and co-invested in the transaction. Terms of the transaction were not disclosed.
Founded in 2009 by Luther Cifers, YakAttack is a leading designer, manufacturer and marketer of best-in-class kayak fishing accessories, including rod holders, track and mounting systems, organization and storage products, and many others. The Company proudly manufactures its high-quality products in its headquarters facility in Farmville, VA, and sells them through retailers across the U.S., to kayak manufacturers, and also direct-to-consumers via its own website. With an expansive catalog of products uniquely designed to enable anglers to outfit and rig their kayaks with innovative solutions that optimize performance, organization, comfort and safety, YakAttack has become a branded leader in the rapidly growing kayak fishing industry.
“I am extremely excited about our new partnership with L2 Capital Partners. L2’s track record of helping founder-led companies maximize their potential is impressive, and their core values and vision for what YakAttack can become really resonated with our team,” said Luther Cifers, Founder and President of YakAttack. “I would like to thank the Marriott & Co. team for helping to generate such a fantastic outcome for YakAttack. Their entire team impressed me every step of the way by delivering thoughtful advice, crisp process execution and a relentless work ethic. I trusted Marriott & Co. to advise me on the most important business decision of my life, and they delivered.”
Justin Marriott, Managing Director of Marriott & Co. said, “It was an absolute pleasure to work with Luther, the YakAttack team and L2 Capital Partners on this transaction. The strategic fit between YakAttack and L2 was evident from the very first meeting and only grew stronger throughout this transaction process. I look forward to watching YakAttack flourish under this new partnership in the years to come.”
Added Bryan Burden, Managing Director of Marriott & Co., “Luther Cifers and his company YakAttack represent precisely the type of client that Marriott & Co. is built to serve – an innovative, entrepreneur-led company seeking a value-added strategic partner to assist in taking his company to the next level. It is so gratifying to help a talented entrepreneur like Luther achieve a terrific outcome, and I know that YakAttack and L2 are going to accomplish great things together.”
About YakAttack:
Founded in 2009 by Luther Cifers, YakAttack is a leading designer, manufacturer and marketer of best-in-class kayak fishing accessories, including rod holders, track and mounting systems, organization and storage products, and many others. The Company proudly manufactures its high-quality products in its headquarters facility in Farmville, VA, and sells them through retailers across the U.S., to kayak manufacturers, and also direct-to-consumers via its own website. With an expansive catalog of products uniquely designed to enable anglers to outfit and rig their kayaks with innovative solutions that optimize performance, organization, comfort and safety, YakAttack has become a branded leader in the rapidly growing kayak fishing industry. For more information, please visit www.yakattack.us.
About L2 Capital Partners:
L2 Capital Partners is a lower-middle-market private equity firm that specializes in making control investments in a diverse range of family and founder-built companies with demonstrated market leadership. L2 has an impressive track record investing in business service and consumer product companies. L2 Capital adds value by closely partnering with company leadership to meet their strategic and financial goals by providing intimate operational support including a proprietary breakthrough growth framework and by accessing resources gained over 40 years of principal investing experience. For more information, please visit www.L2Capital.net.
About Marriott & Co.:
Headquartered in Richmond, VA, Marriott & Co. (www.marriott-co.com) is a premier, independent boutique investment banking firm focused on advising privately-held companies across a wide variety of industries. The firm provides merger and acquisition advisory and capital raising services primarily to family-held businesses and entrepreneurial business owners in the middle market. Marriott & Co.’s unique entrepreneurial culture enables the firm to tailor its services to meet the needs of its clients, and the firm’s professionals have an unparalleled understanding of the challenges and opportunities facing these companies and their owners today. By delivering senior banker attention, a high-touch approach to client service and best-in-class process execution to every assignment it undertakes, Marriott & Co. has established a long track record of closing successful transactions for clients all over the U.S.
Contact: Justin Marriott
Phone: (804) 344-0952
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