Private Equity & Igloo: An American Success Story
What would summer be like without Igloo coolers? It would probably mean a lot of warm drinks and a lot less fun with friends and family. Millions of Americans will spend this weekend engaging in some form of recreation, and many will do so with the help of an Igloo cooler. Private equity helped make Igloo’s success possible.
David Allen, President and CEO of Igloo Products Corporation, spoke with Drew Maloney, President and CEO of the American Investment Council, to discuss Igloo’s successful partnership with private equity firm ACON Investments.
Private equity has played a major role in Igloo’s success, providing the Katy, Texas-based company with the capital needed to turn its vision into reality. ACON Investments helped Igloo improve its products, increase marketing, and retain long-time employees, allowing the company to grow and expand. Thanks to private equity, Igloo did not have to let go of any full-time employees during the COVID-19 pandemic and was able to provide them with an additional 80 hours of sick leave to ensure workers could stay home if they had any symptoms.
Private equity provided Igloo with the funds to begin pre-building coolers months ago, as they anticipated a busy season with pandemic restrictions lifting in the summer. Igloo is now well-positioned to help Americans keep their food and drinks cold as they begin traveling again.
