CPE News (2.17.2022) – FortNine, a portfolio company of Novacap Industries V, has acquired of Defender Industries Inc.
Waterford, CT based Defender is a family-owned company, with a mission to make boating accessible to more people and disrupt the marine supply industry. Defender is an authorized dealer for 85,000 products from every major marine manufacturer. Under the leadership of Stephan Lance, Defender has grown to become the largest independent marine supply firm in the U.S.
FortNine is Canada’s leading e-commerce platform for motorbikes, dirt bikes, ATVs, snowmobiles and other powersports equipment, accessories, and parts.
In August 2020, Novacap through its Novacap Industries V fund acquired FortNine in partnership with founders Amin and Karim Sawaf.
photo credit: Engin Akyurt via pixabay
News Release
FortNine Acquires Defender
The acquisition expands FortNine’ s product range to include marine supplies available under the Defender banner.
MONTREAL, Feb. 17, 2022 /PRNewswire/ – FortNine (www.fortnine.com), Canada’s leading e-commerce platform for motorbikes, dirt bikes, ATVs, snowmobiles and other powersports equipment, accessories, and parts, announced today in partnership with Novacap the acquisition of Defender Industries Inc. (www.defender.com).
Based in Waterford, CT., Defender is a family-owned company, with a mission to make boating accessible to more people and disrupt the marine supply industry. Defender is an authorized dealer for 85,000 products from every major marine manufacturer. Under the leadership of Mr. Stephan Lance, Defender has grown to become the largest independent marine supply firm in the U.S.
FortNine believes that Defender is an excellent platform on which to bring a complementary line of business to its powersports community.
“FortNine and Defender share a passion for serving sports enthusiasts: we both have a very loyal customer base who trust our knowledge and experience to outfit them with the equipment they need,” says Amin Sawaf, founder, and president of FortNine. “It is truly a privilege to acquire a company with such a stellar reputation and we look forward to bringing our unique go-to-market expertise to the marine industry.”
“The Lance family has been honoured to serve our customers since 1938, and in FortNine, we believe that we have found the perfect match in our shared values,” explains Stephan Lance, President of Defender. “We are a marine outfitter staffed by passionate boaters that enable us deliver on our mission of great customer service. We are proud to unite with FortNine’s team of enthusiasts to drive Defender into its next stage of expansion.”
“This first add-on acquisition for FortNine is in line with our ambition to expand the expertise and business model across verticals,” adds Antoine Casimir, Principal at Novacap. Today, we are executing on our strategy to build an e-commerce powerhouse for sports enthusiasts.”
About FortNine
FortNine www.fortnine.com provides Canadian riders with the gear they need.
FortNine is a leading online store providing Canadian riders with an extensive selection of Motorcycle Helmets, Rider Apparel, Tires, Parts, Dirt Bike Gear, Snowmobile Clothing and ATV Accessories. FortNine focuses on providing excellent customer service with their knowledgeable and experienced staff and by keeping a very large selection of products in stock which allows it to ship direct to customers with the least delay.
About Defender
Since 1938, Defender has provided quality marine supplies, inflatable boats and outboard motors. Defender is a marine outfitter staffed by passionate boaters who understand your language and your projects. We have a knowledgeable, in-house sales staff ready to answer your questions and to help you make the right purchase. Defender’s mission is to be the marine outfitter of choice, offering the widest selection of quality products at the most competitive prices, and providing prompt, courteous customer service.
www.defender.com
About Novacap
Founded in 1981, Novacap is a leading North American private equity firm with over C$8B of AUM that has invested in more than 100 platform companies and completed more than 150 add-on acquisitions. Applying its sector-focused approach since 2007 in Industries, TMT, Financial Services, and Digital Infrastructure Novacap’s deep domain expertise can accelerate company growth and create long-term value. With experienced, dedicated investment and operations teams as well as substantial capital, Novacap has the resources and knowledge that help build world-class businesses. Novacap has offices in Brossard, Québec and Toronto, Ontario. For more information, please visit www.novacap.ca.
SOURCE Novacap Management Inc.