Equity Firm Provenance Invests In Supplier Marine Layer
Supplier Marine Layer (PPAI 690355), headquartered in San Francisco, California, has received a significant minority investment from Los Angeles-based growth equity firm Provenance. Provenance also joins the Marine Layer Board of Directors.
"Mike Natenshon and the Marine Layer team have created an outstanding lifestyle brand that has transcended its foundation built on the ‘absurdly soft’ tee shirt," says Anthony Choe, founder of Provenance. "We're proud to partner with the company to replicate their success in other markets throughout the country, as well as help them grow their direct-to-consumer business."
Founded in 2010, Marine Layer has 37 retail stores across the U.S., with plans for continued significant expansion, in addition to its presence in the promotional products industry.
"We’re excited to partner with Provenance. They have a strong track record of performance, and they really understand our business and brand, which is huge for us," says Marine Layer CEO and founder Mike Natenshon. “I look forward to working closely with Provenance to take Marine Layer to the next level."
Adam Lynch, COO, adds, “Provenance is a value-added investor, and their approach to helping create value through customer analytics is unparalleled in the investment community. We look forward to our continued beneficial partnership for years to come."