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Solo Brands applies for an IPO

Solo Brands, Inc., owner of the Solo Stove, Chubbies, Oru Kayak and Isle Paddleboard brands, has filed a registration notice with the Securities and Exchange Commission for a proposed IPO.

The number of shares to be offered and the price range for the offer have not yet been determined.

According to the prospectus, Solo Stove was launched in 2011 and was initially successful with the introduction of Lite, an ultra-light portable camping stove for backpackers. This was followed by the groundbreaking launch of Solo Stove Fireplaces in 2016. Solo Stove’s growth and success allowed the company to make significant investments in the supply chain, bringing in fulfillment, research and development, sales and marketing, and customer service. This laid the foundation for a scalable DTC platform which, along with the acquisitions of Oru, ISLE and Chubbies in 2021, resulted in the creation of Solo Brands in 2021.

The filing shows that the company had pro forma sales of $ 208 million for the first six months of 2020. Solo Stove grew at a compound annual growth rate (CAGR) of 132 percent from 2016 through the twelve month period ended June 30, 2021, with DTC sales accounting for 92 percent of sales in 2020.

BofA Securities, JP Morgan and Jefferies are acting as joint book-running managers for the proposed offering.

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