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Posts Tagged ‘Wild Things’

Mission Ready Announces Letter of Intent to Acquire Wild Things for USD $4.5 Million

Thursday, September 1st, 2016

VANCOUVER, B.C. – September 1, 2016 – Mission Ready Services Inc. (“Mission Ready” or the “Company”) (TSX-V: MRS) is pleased to announce that it signed a Letter of Intent (“LOI”) on August 30, 2016 to acquire Wild Things, LLC (“Wild Things)”) for USD $4.5MM. Founded in 1981, Wild Things is a leading manufacturer of technical outerwear and gear with products currently in the field with every branch of the US Armed Forces.

Under the terms of the LOI, Mission Ready will acquire the business and certain assets of Wild Things, LLC for USD $4.5MM consisting of $3.5MM cash paid on closing of the acquisition (the “Close”) and USD $1MM in Convertible Promissory Notes (each $25,000 Convertible Promissory Note, a “Note”). The Notes mature 2-years from date of issuance and are convertible at $0.10 during the first year subsequent to the Close and $0.15 during the second year. The Notes will bear interest at the United States Applicable Federal Rate at the date of closing, compounded semi-annually, and may be redeemed by Mission Ready before the maturity date upon thirty-day notice to the Note holder. Mission Ready is working with a New York-based investment firm to finalize a commitment of $3.5MM in debt financing to satisfy the cash portion of the purchase price.

Based in Middletown, Rhode Island, Wild Things has been in business for 35 years and produces highly engineered technical garments for the U.S. Military, including Marines, Special Forces, including U.S. Navy Seals and other elite units, Department of Homeland Security and other federal agencies, law enforcement, alpinists, explorers, climbers, bikers, campers, hikers, and outdoors enthusiasts worldwide. In addition, Wild Things has sold to military customers in 10 countries. The extensive portfolio of Wild Things products can be viewed on its website at http://www.wildthingsgear.com/

“We believe these companies, when combined, will allow us to become one of the leaders in the industry in designing, manufacturing and providing state of the art products to law enforcement and special forces personnel throughout the world. We have high expectations for the company. Guided by safety and superior technology, its leaders are passionately focused on customers’ physical protection and on building shareholder value” said Jack Wyant, Wild Things director and Managing Director of Blue Chip Venture Company, an investor in Wild Things.

The Wild Things team is led by Ed Schmults who has extensive experience in the outdoor apparel business including Patagonia, and Moonstone Mountain Equipment. Mr. Schmults is the former Vice Chairman of the Board of Directors of Recreational Equipment Inc. (REI) and a current Board member for Vera Bradley. Also, he is a former member of the Board of Trustees of National Outdoor Leadership School (NOLS), an international leadership and outdoor skills school, from 2009 – 2015. Ed served on the board of the Outdoor Industry Association from June of 2013 – August 2015. In addition, Ed serves as a mentor to retiring Special Forces members through his involvement with the Commit Foundation and the Station Foundation.

“This transaction enhances Wild Things ability to serve our customers – military and consumer – by improving our product development, manufacturing and sales capabilities, “says Ed Schmults.

“The entire Wild Things team is excited about the opportunities ahead.”

Rod Reum, CEO of Mission Ready states, “As Mission Ready focuses its business model to become a premier manufacturer, we are excited with the prospect of adding the Wild Things team and business to the Company’s current manufacturing business. The combining of the entities will allow us economies of scale, open new markets and allow access to additional sales channels for both businesses.”

Mission Ready expects to close the acquisition in the fourth quarter of 2016, subject to financing and regulatory approval.

Warrior East – Wild Things Poncho

Thursday, July 14th, 2016

Wild Things has introduced a version of the classic GI Poncho; new coated snaps, corner grommets, and same coated material in MultiCam but no waist drawstring. The hood has an internal, elastic drawstring so it can be adjusted for weather, or closed up for use as a shelter.

www.wildthingsgear.com

Sneak Peek – Wild Things Goat Bag

Monday, June 20th, 2016

This gear hauler from Wild Things features loops all around.

Check it is it at next month’s Warrior Expo – East by ADS Inc.

SOFIC – Wild Things Power Stretch Mountain Shorts

Tuesday, May 24th, 2016

Wild Things took a look at their line to figure out areas where they could save weight and realized that thir long underwear pants didn’t really need to be long. They took Power Stretch material and created a knee length short that keeps your thighs warm but leaves your calves free from bulk. With so many wearing calf length compression socks, their calves are already covered. It also equals less weight and bulk in your pack. Brilliant!

www.wildthingsgear.com

Wild Things Expands Footprint With New Office Space; Invites War College And Other Military And LE Personnel To Visit For Adult Refreshments And Product Idea Sessions Every Friday Afternoon At 4 PM

Tuesday, December 8th, 2015

Middletown, R.I., (December 7, 2015) – Wild Things, LLC, (www.wildthingsgear.com), a leading manufacturer of technical outerwear for the U.S. Military and Law Enforcement markets, is pleased to announce they have moved into a new office in Middletown, RI. The new space is much larger than their old office in Newport and is only a few hundred yards from Naval Station Newport in Rhode Island.

“Everyone is psyched for the new office.” said Ed Schmults, CEO of Wild Things. “We have more space for everything – people, product, servers, etc. It is much easier to work and get things done. Plus the Production Department can shut the door when the rest of us get too loud”

The proximity to Naval Station Newport has prompted Wild Things to offer a Beer Event every Friday afternoon. Free Beer and a chance to mess about with product prototypes and get a glimpse of what is coming next year. “We are so close to the Base that we hear the Retreat played every afternoon, said Schmults. “All you have to do is show up and bring some thirst – for beer and product – and we will take care of you”

The Wild Things has had a busy year. The Company received new investment from their Board in January and in October. “These new investments show confidence in the business plan and the Wild Things team”, said Schmults. “We are working on some innovative new product for the Military market in 2016 and have two cool growth initiatives underway in other markets, including a recently signed licensing deal for our consumer brand in Japan with Itochu. Itochu is one of the world’s most prominent licensing partners – their clients include such well known brands as Tommy Hilfiger, O’Neill, Gramicci, Tumi, Converse, Paul Smith, Bulgari and New Balance.”

Final Wild Things Winner Announced

Friday, November 27th, 2015

Today, in a dramatic drawing attended by a raucous crowd in New Orleans, a final winner was chosen in the Wild Things week-long Win Free Stuff sale event. Wild Things order WT1259 from the great state of Texas will get their stuff for free. Thanks for all the support and the many orders driven by the readers of Soldier Systems.  

Wild Things – Knuckle Roaster Handwarmer

Monday, November 23rd, 2015

Although it’s been around for several years, it’s still a cold weather favorite. The Knuckle Roaster features a zip front pocket, hand warmer pockets, interior Polartec Power Stretch barrier, and slots for hand warmers for when it’s really cold. It also incorporates a reinforced web belt with an easy-to-use buckle, so it can be worn below your vest as well as an exterior zippered storage pocket.

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TECH SPECS
-Hand warmer with convenient, adjustable waist strap
-One-size-fits-most
-Exterior zippered storage pocket
-Available for commercial sale in both Coyote Genuine MultiCam
-Available for commercial sale in FR and non-FR versions
-Made in USA!

Also, don’t forget, Wild Things is in the midst of their 7 day Wild Sale, offering 25% off everything on the website to Military and Law Enforcement personnel.

The Wild Sale runs until Friday, November 27th. Everything will be 25% off upon entering the code WILDSEASON15 at checkout. A key feature is that every day at 4 pm the Company will hold a drawing from all orders placed that day and one lucky winner will be credited for their entire order. Winners are announced on Soldier Systems and the Wild Things website.

www.wildthingsgear.com

Wild Things Day 2 Winner Announced

Saturday, November 21st, 2015

This just in from Wild Things…

The second daily winner of the Wild Things sale week is order number WT1208 for $249.20. Congrats to this lucky Wild Things customer. We are not disclosing her name due to privacy concerns. Her order will be shipped and her credit card will NOT BE CHARGED. More happy Wild Things customers!!!