Press release here:
The Nantahala Outdoor Center (NOC) announced today that it has completed a significant equity investment enabling the company to repurchase the majority of its common stock including its Employee Stock Ownership Plan. The investment was led by NOC President & CEO Sutton Bacon with partnership from Atlanta-based firms Five Stand Capital, Mariner Holdings, and Sea Oats Group.
“This investment will provide growth capital to the company as we embark on a new strategic plan,” said Sutton Bacon. “Our guests should expect further growth in NOC’s core outdoor recreation programs, the continued development of our Nantahala campus lodging and guest amenities, expansion of our retail and activity center concepts, and a reinvigoration of our international adventure travel business.”
Founded in 1972, NOC is celebrating its 40th anniversary this year. Named “One of the Best Outfitters on Earth” by National Geographic ADVENTURE, the company is the largest outfitter in the United States. In 2011, NOC served over 800,000 guests and earned the highest revenue in company history.
“We have recruited values-aligned investment partners with skills, relationships, and capital to help shepherd NOC’s vision for the next four decades,” said NOC co-founder Payson Kennedy, who will remain on NOC’s board of directors. “I would like to thank all of our employee-owners and let them know how much we value their investments of time, energy, and passion in NOC throughout the years.”