WALNUT CREEK, Calif. (BRAIN) — Spanos Barber Jesse & Co., a private investment firm, has made an undisclosed investment in Troy Lee Designs. The company said that founder, chairman, and Chief Design Officer Troy Lee "has retained a significant ownership stake in the company and continues to lead TLD's design efforts."
TLD has hired Dave Bertram as CEO. Previously, Bertram was the founding chairman and CEO of Cycle Gear, a motorcycle and ATV accessories retail chain. Bertram also is a former champion motorcycle racer.
TLD produces helmets, protective equipment and apparel for power sports and mountain biking.
"It is a privilege to partner with Troy and to be entrusted with helping him realize his vision for growing the company," said Tom Barber, the managing director at SBJ. "Troy is a design legend and has built a truly exceptional brand, having earned the trust and respect of the best racers in the world as well as racing enthusiasts for over 30 years. We look forward to working with Troy to protect and build on that legacy."
Lee said, "Over the years I've thought a lot about how to build my business and am absolutely stoked about the partnership with SBJ and Dave. SBJ provides us with the financial support and strategic expertise that we need to take TLD to the next level. And Dave brings a wealth of operating experience to help us tighten up our execution, which will help us serve our suppliers and customers even better and enable us to develop more of the awesome products we are known for."
Spanos Barber Jesse & Co. manages a private investment fund with over $200 million of committed capital. The firm invests in lower middle-market consumer, business services and healthcare services companies. Notable previous investments include Peet's Coffee & Tea, Wired magazine and the Design Within Reach retail chain.
