Bell Lap Advisors - Led Taxa Outdoors Acquired By L Catterton

Date

March 2022

Client

Taxa Outdoors

Service

Sell-Side M&A Advisory

Buyer

L Catterton

Recreational Vehicle, RV, Overlanding, DTC, eCommerce, Outdoor Recreation, Off-road, Camping

Taxa Outdoors, a Texas-based manufacturer of mobile habitats for outdoor recreation, was acquired by L Catterton, a Connecticut-based Private Equity firm. Terms were not disclosed.

Taxa Outdoors was advised on the sell-side by Bell Lap Advisors.

Taxa was founded in 2014 by a NASA architect. Taxa is known for their innovative, lightweight mobile habitats that are designed to connect people with the outdoors for memorable shared experiences. Taxa focuses not only on making habitats that are easy to travel with, but that are engineered to last for a lifetime, as part of their commitment to sustainability. Taxa currently manufactures four standard vehicles, with options for performance upgrades. Taxa's mobile habitats are designed to facilitate off-the-grid adventures and transform the way people live, learn, and play outside.

Garrett Finney, founder of Taxa said of the transaction: “I founded Taxa eight years ago to break down the barriers between people and nature, creating innovative and rugged camping machines to enhance outdoor experiences. By leveraging L Catterton's significant consumer and operational expertise – including a strong track record of supporting experiential outdoor brands – we will be well-positioned to continue driving exceptional growth and serving our remarkable community of customers. We are excited to partner with L Catterton to expand our reach and launch new types of habitats and products to further our mission of inspiring more people to journey into nature."

L Catterton partner Matt Nugent said, “In Taxa, we saw a unique opportunity to invest in a differentiated premium outdoor brand with unmatched authenticity and credibility and a strong ethos dedicated to helping people explore and enjoy the outdoors. The company is led by true visionaries, Garrett Finney and Divya Brown, who along with their team have created an entirely new category in camping and are recognized as innovators in the industry. We look forward to partnering with them to propel Taxa's next phase of growth. With our support, we believe the company will be able to further capitalize on the increasing popularity of outdoor living and experiences and bring more of the company's remarkable products to an even broader audience."

By acquiring Taxa, L Catterton adds to its portfolio of outdoor brands, which have included West Marine, Getaway, Airxcel, Truck Hero, Heartland RV, Leslie's, and Pinarello, among others.

As part of the transaction, RX3 Growth Partners, a California-based institutional growth equity firm, also became an investor in the company. RX3, which is backed by a roster of professional athletes and celebrities, saw potential to grow Taxa under their existing leadership. Nate Raabe, Managing Partner of RX3 commented, “With innovation and community at its forefront, Taxa is a prime candidate for RX3's investment strategy. We've been following the growth trajectory of the outdoor category for some time and are looking forward to working closely with Garrett, Divya, and the team to further solidify Taxa as the winning brand within that space."

Bend, Oregon-based Bell lap Advisors is a leading M&A advisory firm focused exclusively on outdoor recreation and active lifestyle industries and is the most experienced M&A adviser for overlanding and adventure van industries in North America.

Curious about the process of buying or selling a business through an M&A transaction? Give us a call today for a free consultation.