Solo Brands, Inc. acquired IcyBreeze Cooling, LLC for $52.1 million.
August 03, 2023
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Solo Brands, Inc. (NYSE:DTC) acquired IcyBreeze Cooling, LLC for $30 million on July 1, 2023. The purchase price of $30 million in cash. Michael Goss, Lance Thomasson and Doug Morrow of Generational Equity acted as financial advisor to IcyBreeze Cooling, LLC.
Solo Brands, Inc. (NYSE:DTC) completed the acquisition of IcyBreeze Cooling, LLC for $52.1 million on July 1, 2023. Cash paid at closing was $29.4 million, net of $7.8 million in cash acquired. The remainder of the consideration, an earnout of $14.9 million, was recorded as contingent consideration, which is tied to IcyBreeze achieving certain specified profitability metrics.
Solo Brands, Inc. develops and produces ingenious lifestyle products that market and deliver through its direct-to-consumer (DTC) platform and wholesale partnerships. The Company operates six outdoor brands: Solo Stove, Oru Kayak, Inc. (Oru), International Surf Ventures, Inc. (ISLE), Chubbies, Inc. (Chubbies), Sconberg, LLC (TerraFlame) and IcyBreeze Cooling, LLC (IcyBreeze). Its brands develop products and market them directly to customers primarily through e-commerce channels. Its Solo Stoves include the Lite, Titan, and Campfire. Solo Stove Lite is an ultralight portable backpacking camp stove that can boil water in under 10 minutes using just twigs, sticks, and leaves. The Solo Stove fire pit products include the new tabletop Mesa, Ranger, Bonfire, Yukon, and Canyon. Its Oru brand includes five kayak models: the Inlet, Beach LT, Bay ST, Coast XT, and Haven. Its Chubbies brand offers apparel across five product lines: swim trunks, casual shorts, sport, polos and shirts, and lounge.
SOLO BRANDS, INC. 
