LOS ANGELES, April 2014 – Breakwater Investment Management, LLC (“Breakwater”) is pleased to announce the recent closing of a new-platform growth capital investment into yurbuds® out of its Breakwater Structured Growth Opportunities Fund. Based in Los Angeles, Breakwater is a private investment firm that specializes in direct investments in leading lower middle market businesses that demonstrate attractive opportunities for growth.
Based in St. Louis, Missouri, yurbuds is the #1 selling sport earphone company in the United States. The business sells its diversified range of products through a wide distribution network of large retailers such as Target and Walmart, consumer electronics stores like Apple, Best Buy and AT&T, and sporting goods retailers such as Dick’s Sporting Goods and Sports Authority.
“We are extremely pleased to partner with the professionals at Breakwater,” said Seth Burgett, co-founder, Chairman and CEO at yurbuds. “This is another year of active expansion for the yurbuds brand. The financing from Breakwater will provide valuable working capital to support our strategic plans and ongoing business growth, helping to further yurbuds’ mission to transform the athlete’s experience through personalized service and exceptional products that integrate ergonomics, performance, and emotive design.”
“We are delighted to support this well-recognized premium brand within the sport tech market,” said Saif Mansour, Founding Partner at Breakwater. “With its strong financial performance, multiple channels of distribution, and seasoned management team, yurbuds is ideally positioned for high sales growth over the coming years. We are very pleased to be financing this innovative company at such an exciting phase of its business.”
About Yurbuds, LLC
yurbuds was founded in 2008 by Seth Burgett, Chairman and CEO, an active Ironman triathlete and Richard Daniels, COO, a 25-time marathoner and Ironman triathlete. Burgett and Daniels left their corporate roles and joined forces to improve personal performance. They have been joined by Craig Ceranna, CFO and Managing Director, to realize the company’s mission: transform the athlete’s experience through personalized service and exceptional audio products that integrate ergonomics and emotive design.
As a company, yurbuds was recently honored by the 2013 International CEA Innovations Design and Engineering Awards for the Focus Limited Edition. yurbuds has also been awarded for its marketing, including a 2011 “Site of the Day” for Awwwards.com and a 2010 GOOD DESIGN AWARD. Forbes also named yurbuds the 9th Most Promising Company in America for 2009.
About Breakwater Investment Management, LLC
Breakwater Investment Management is a private investment firm that specializes in direct investments in leading lower middle market growth companies, especially businesses with expanding global operations. The firm aligns itself with committed management teams, owners, and sponsors to help propel lower middle market businesses into their growth curve. Breakwater has an established, world-class alternative asset management platform, with multiple partnerships and investment vehicles that service the lower middle market’s myriad capital needs.
To learn more about Breakwater, visit http://www.breakwaterfunds.com or call (424) 777-4000.