johnnie-O, the next great iconic American brand, today announced that it has closed an investment of $108 million from Wasatch Global Investors (“Wasatch”) and Ares Management Corporation (“Ares”) funds.

johnnie-O is a premium lifestyle brand differentiated by its loyal and passionate consumer following, high quality product, and omnichannel balance, resulting in superior financial performance and consistently high sales and profit growth. The mass casualization of America has allowed johnnie-O the market opportunity to provide consumers of all ages with a broad range of unique upscale lifestyle apparel, wearable on numerous occasions, including at the office, on the golf course, on the beach or an evening out.

The johnnie-O brand and logo have resonated deeply with consumers, resulting in a shared sense of community and success across each of its channels. The Company’s e-commerce channel has contributed significantly to the Company’s success, while the wholesale and johnnie-O retail store channels have enjoyed similarly high levels of growth. The Company expects to continue to drive and broaden the brand in 2022, and to grow its presence across all channels.

johnnie-O’s sales and EBITDA grew by more than 80% in 2021. This financing positions the Company to continue its growth trajectory and support the johnnie-O brand, further nurture its relationship with consumers and retail partners, and broaden its investor base. After giving effect to the financing, Wasatch and Ares funds collectively will hold a minority interest in the Company.

Brian Goldman, Partner at Ares, said, “We are excited to provide flexible capital in support of johnnie-O’s strong growth plans. This investment dovetails with Ares’ strategy of investing alongside companies with strong brands, compelling track records and best in class management teams.”

Dave Gatto, CEO of johnnie-O, commented, “We are delighted to partner with such high caliber firms as Wasatch and Ares as we continue to grow our brand and community and build the next great iconic American brand.”

John O’Donnell, Founder of johnnie-O, said, “I am so proud of our team and humbled by the growth of our business which has resulted from the consistent engagement of our loyal consumers and trusted retail partners.”

About johnnie-O:

johnnie-O was founded by John O’Donnell in Santa Monica, CA. johnnie-O currently offers a range of premium apparel, footwear and accessories for men and boys. The collection includes polos, button-downs featuring the patented “Tweener Button”, bottoms, swim, outerwear and a line of PREP-FORMANCE™ gear for the active lifestyle. johnnie-O is available online at www.johnnie-O.com, and at specialty retailers and golf and racquet clubs across the United States. @johnnieobrand

About Wasatch Global Investors

Wasatch Global Investors is a comprehensive small-cap equity manager singularly focused on delivering excellent risk-adjusted returns for its clients. The firm is a 100 percent employee-owned investment manager founded in 1975 and headquartered in Salt Lake City, Utah. Wasatch has $33 billion in assets under management. Wasatch Global Investors is registered with the Securities and Exchange Commission under the Investment Advisers Act of 1940.

About Ares Management Corporation

Ares Management Corporation (NYSE: ARES) is a leading global alternative investment manager offering clients complementary primary and secondary investment solutions across the credit, private equity, real estate and infrastructure asset classes. Ares seeks to provide flexible capital to support businesses and create value for its stakeholders and within its communities. By collaborating across our investment groups, we aim to generate consistent and attractive investment returns throughout market cycles. As of December 31, 2021, Ares Management Corporation's global platform had approximately 2,100 employees operating across North America, Europe, Asia Pacific and the Middle East and approximately $314 billion of assets under management, including Ares Management’s acquisition of AMP Capital’s Infrastructure Debt platform which closed February 10, 2022. For more information, please visit www.aresmgmt.com.

William Blair & Company, L.L.C. served as the exclusive financial advisor to johnnie-O and Finn Dixon & Herling LLP served as legal counsel.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220425005132/en/