Deal Details

North Sails Refinances Debt

Consumer

North Sails, a portfolio company of Oakley, debt refinancing

Summary

North Technology Group LLC (parent company of "North Sails" or the "Company"), a portfolio company of Oakley Capital (“Oakley”), has refinanced existing term debt facilities and arranged a revolving credit facility. Terms of the transaction were not disclosed.

Baird served as exclusive debt advisor to North Sails on this transaction.

About

Founded in 1957, with operations across the globe, North Sails is a leading ocean brand and manufacturer of premium sails, masts and action sports equipment. North Sails is dedicated to innovation and performance with a highly resilient customer base across high net worth and enthusiast-led market segments from America’s Cup winners to weekend day-sailors. Every sail and mast utilizes proprietary technology and cutting-edge design for optimal speed and efficiency. Since Oakley’s acquisition in 2014, North Sails has continued to produce high- performance sails and masts, worked on several industry-leading megaprojects and extended the market-leading branding to create the principal brand in the ocean sports industry across sails, masts, sailing-related sports, clothes and accessories. North Sails is headquartered in Bridgeport, Connecticut.

Oakley Capital is a UK-HQ, pan-European entrepreneurial investor, and has backed over 40 mid-market businesses across the core sectors of technology, consumer, education and business services. Oakley focuses on driving positive change within portfolio companies and seeks to create long-term value through entrepreneurial partnerships. Founded in 2002, Oakley has raised five major mid-market PE funds, the latest Fund V amounting to €2.85bn in 2022, as well as two lower mid-market funds, the latest Origin II amounting to €750m in 2023. Oakley is headquartered in London, England.