Cocona Positioned for Accelerated Growth
OutdoorHub 01.03.13
H.I.G. Growth Partners Leads Investment in Company
Cocona, Inc. announces an affiliate of H.I.G. Growth Partners as the lead investor in a $15 Million Private Placement in Cocona, Inc. and minority equity investment holder in the Company. This round of investment was also accompanied by additional funding from Fairhaven Capital and OnPoint Technologies, Inc., both prior investors.
Cocona, Inc. has developed significant market penetration with patented Cocona Technology in the global Sports and Outdoor markets and has identified many other high value applications and markets for growth.
“This investment comes at a perfect time for us. We have worked to commercialize our technology, develop our brand partnerships, and build our team. Now we have the resources that will help us streamline our operations, expand our product and application development capacity and invest in building our brand for long-term growth”, said Brad Poorman, CEO of Cocona, Inc.
H.I.G. Growth Partners Managing Director, Craig Burson, will join the Board of Directors. Mr. Burson brings years of commercial and investment experience and will be a valuable addition to implementing the Company’s growth plans. “We see tremendous opportunity with Cocona, said Burson. “It has been years since a technology has made such an impact in these markets and we are excited to be a part of it.”
