Mission Ready completes Wild Things acquisition
2017-03-09 10:18 ET - News Release
Mr. Rod Reum reports
MISSION READY CLOSES WILD THINGS ACQUISITION
All conditions precedent to the asset purchase agreement related to Mission Ready Services Inc.'s acquisition of Wild Things LLC, first announced Sept. 1, 2016, have been satisfied and Mission Ready has closed the acquisition of the business and certain assets of Wild Things LLC. The $4.5-million (U.S.) transaction was further detailed in news releases dated Jan. 4, 2017, Feb. 8, 2017, Feb. 21, 2017, and Feb. 28, 2017.
The close of the transaction follows the approval from Crestmark Bank to extend a $2.5-million (U.S.) credit facility to Wild Things USA Inc., a wholly owned subsidiary of the company.
"We are thrilled to announce the completion of the Wild Things acquisition and wish to extend a sincere thank you to all of the individuals involved in advancing this transaction to completion, including the Wild Things team and members of Crestmark's staff," said Rod Reum, president and chief executive officer of Mission Ready. "Crestmark has been providing lending facilities to Wild Things for a number of years and we are honoured to have them partner with Mission Ready as well," Mr. Reum added.
About Wild Things LLC
Founded in 1981, Wild Things has earned a reputation for sophisticated, tough, lightweight technical outerwear, alpine-style backpacks, haul-bags and innovative tactical clothing. Wild Things occupies a unique position in the marketplace with a 35-year heritage of pioneering product design for the specialized needs of the alpine mountaineering and military communities. Chosen for the world's most demanding conditions by the world's most demanding users, Wild Things manufactures its products in the United States under two divisions -- Wild Things for the outdoor enthusiast and Wild Things Tactical for the unique needs of the military and law enforcement communities. In addition to the design studio and executive offices located in Middletown, R.I., Wild Things operates a factory and second design studio in Gorham, N.H.
About Mission Ready Services Inc.
MRSI's mission is to save lives and enhance the performance of military personnel, first responders and those who protect the community by working to ensure they are equipped with the best possible personal protective equipment.
Headquartered in Vancouver, B.C., Mission Ready has three distinct, synergistic operating divisions:
Strategic consulting services and manufacturers representation;
Equipment inspection, cleaning/decontamination and repair services of personal protection equipment;
Product research and development.