We are pleased to share that our client, IcyBreeze Cooling (“IcyBreeze”), has sold a minority equity stake to Corbel Capital Partners (“Corbel”). The minority investment closed on December 12, 2022.
Located in Sweetwater, Texas, IcyBreeze is the world's first and only true portable air-conditioning product, and the coldest blowing portable A/C unit that can be plugged into a wall, 12V car adapter, or run on a rechargeable lithium-ion battery, without the need for exhaust venting or condensation drain lines. The product also serves as a high-quality portable cooler.
IcyBreeze is the industry leader in manufacturing and Direct-to-Consumer (D2C) distribution of personal air-conditioning and heat relief solutions. The Company’s products combine portable A/C with an insulated cooler perfect for outdoor enthusiasts of all kinds, including camping, fishing, youth and adult sports, aviation, golf, tennis, boating, outdoor concerts and event venues, parents with infants and toddlers, pet pamperers, and more.
IcyBreeze is used worldwide by some of the largest organizations, including multiple branches of the US Armed Forces, Walt Disney World Resort, and Disneyland. The U.S. Open, Australian Open, Tennis Australia, The University of Oklahoma, Tokyo 2020 Olympics, KISS, AC/DC, Def Leppard, Rascal Flatts, George Straight, and many more have purchased units to cool the biggest name athletes and live entertainment stars and performers.
Corbel Capital Partners is a Los Angeles-based independent investment firm that makes structured debt or equity investments in lower middle market businesses and partners with management to create value. Corbel manages approximately $1 billion of institutional capital on behalf of its network of investors. Corbel supports owners and senior management of businesses with strategic and operational value-added partnership and offers the potential for later monetization events. Corbel's unique experience and expertise in the lower market results in speed and certainty of execution.
“We could not be more excited about partnering with John Brinkman and the IcyBreeze team to help them continue their exponential growth and provide their high-quality functional products to meet the incredible demand that exists in the marketplace,” said Michael H. Jones, Managing Director at Corbel.
Generational Equity Executive Managing Director of M&A – Central Region, Michael Goss, with the support of Vice President, M&A, Lance Thomasson, successfully worked to form the partnership. Senior Managing Director Doug Morrow established the original relationship with IcyBreeze.
"With this minority investment from Corbel, John Brinkman has secured a key institutional partner to help him further professionalize the business and continue to fuel its ongoing meteoric growth in unit sales, top-line revenue, and profitability,” said Goss.
Goss added, “IcyBreeze is about to take summer 2023 by storm and will be the next big household name and coolest consumer product of the year, both literally and figuratively.”
If you would like to explore other transactions our associates have supported in this industry, visit our dedicated Manufacturing & Fabrication M&A Deals page.
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