FirePower Capital Advises Live Out There in Connection with ABL Facility Financed by Invico Diversified Income Limited Partnership
FirePower Capital (“FirePower”), Canada’s entrepreneurial investment bank for the lower mid-market, is pleased to announce that it acted as the exclusive advisor to Live Out There Inc. (“LOT”), with regards to its recent debt capital raise concluded with Invico Diversified Income Limited Partnership, an entity managed by Invico Capital Corporation (collectively, “Invico”).
George Achilleos, President of LOT, said, “As this was the first time we went outside our founders’ circle of family and friends to raise non-dilutive capital, I wanted to make sure I knew all my options. FirePower proposed to do a survey of likely lenders, on a no-name basis; their survey would give me concrete feedback on the likelihood of our raise, while LOT retained the flexibility of anonymity. After positive responses from lenders, the Board decided to formally task FirePower with raising the necessary capital.”
Invico funded an asset-based facility, which “isn’t the structure I had anticipated would be in place,” Mr. Achilleos said. “FirePower proved to be very creative and relentless in their pursuit of the right deal for LOT.”
“The rapidly growing nature of LOT and its unique financing needs dictated that a customized and flexible solution be swiftly delivered. With the help of FirePower, we were able to come up with a unique structure that was an optimal fit for both our investors and LOT” said Allison Taylor, CEO of Invico. “The future of LOT is very encouraging and we are enthusiastic to now be a contributing factor to its long-term growth.”
About Live Out There Inc.
Live Out There Inc. is Canada’s fastest growing online active lifestyle retailer since it was founded in 2009. The Company operates an e-commerce platform in the online outdoor apparel, footwear & gear and adventure travel market. Headquartered in Calgary, Alberta LOT offers over thousands of new items every season from over 70 brands.
About FirePower Capital
FirePower Capital is Canada’s entrepreneurial investment bank that focuses exclusively on advising private lower mid-market companies in Canada on their strategically important M&A and non-dilutive capital financing transactions. FirePower Capital is based in Toronto. Learn more at www.firepowercapital.com.
About Invico Capital Corporation
Invico Capital Corporation is a Calgary, Alberta based independent alternative investment fund management firm with approximately $200 million of private capital under management. Invico provides alternative capital solutions to assist high quality companies and management teams in making strategic acquisitions, financing capital expenditures or growth programs or supporting working capital requirements. For more information, please visit www.invicocapital.com.
For more information, please contact:
Ilan Jacobson, MBA
President & CEO
Watch Our Video
Our client, a software distributor, sought to optimize the pricing of its products and the incentives of its salesforce . Within the 3-month duration of the VMX exercise, EBITDA run-rate increased by 15%, with visibility into more increases down the road.