Active Ride Shop and its new majority investors Tengram Capital Partners have selected a new president for the expanding and important industry account.
Rick Mina, a former CEO of Foot Locker, is taking on the job, while former President Esmail Mawjee moves to an advisory role with the company.
Esmail, who developed strong relationships with many brands during his tenure as President, will remain on the board of directors and is still a shareholder in the company.
Tengram, an East Coast-based private equity firm, became a majority owner of Active earlier this year. Tengram is also a major investor in Sequential Brands Group, the owner of DVS and other brands.
Currently Active has 21 doors and has a goal of adding about 30 more in the next several years.
See Page 2 for the official press release
Press Release:
Active Ride Shop Prepares for Expansion with New President
Rancho Cucamonga, CA – October 14, 2014 – Active Ride Shop (“Active”) and Tengram Capital Partners (“Tengram”) announced that Rick Mina would take on the role of President today. Esmail Mawjee has decided to transition into the role of a strategic advisor for Active. Esmail remains a shareholder in Active and retains his seat on the board of directors.
Since 1989, Active has had a unique culture rooted in skateboarding and snowboarding that Esmail maintained and stabilized as President, after acquiring the Company with Issa Ladha in July 2009. It was under his leadership that the Company was able to restore and renew its relationships with its brand partners. Esmail will continue to strengthen and build on those brand partnerships, while supporting the lifestyle and culture of skateboarding and snowboarding in his new role.
Citing personal reasons for wanting to spend more time with his family in Texas, Esmail said that he is excited that Tengram would like him to continue playing a key advisory role in the growth and development of the Active brand.
“We are excited that Esmail will continue to work with the Active team in his new capacity. With new growth plans in place for the business, Rick Mina will now assume the role of President, to help Active execute its multi-channel growth strategy. Rick is an experienced retail executive, capable of leading this new chapter for the business, while keeping the Active brand committed to its core roots in skate and snow,” said Rich Gersten, Partner at Tengram Capital Partners.
Rick Mina, former CEO and President of Foot Locker North America, brings over 35 years of retail experience to Active and has exemplified success throughout his career. Rick held several leadership positions during his tenure at Foot Locker. As CEO and President of Champs Sports, Rick led a team that successfully turned around the business, and created a profitable growth model, which has continued to exhibit success today.
As he enters his new role, Rick stated, “Active has a tremendous growth opportunity. Its culture, people and brand partnerships are key drivers to future growth and success. With the investment from Tengram Capital, we will more aggressively open new doors and invest in our systems, digital, social and e-commerce capabilities. We anticipate significant growth in the years to come.”
ABOUT ACTIVE RIDE SHOP:
Established in 1989, Active Ride Shop maintains its position among the top retailers and ecommerce businesses in the action sports industry. Active Ride Shop has 21 retail locations throughout Southern California and a growing ecommerce business. Active Ride Shop sponsors the most elite skateboarders and snowboarders in the world, and is proud of its offering of the new emerging brands and the latest trends in the industry. For more information about Active Ride Shop visit www.activerideshop.com.
ABOUT TENGRAM CAPITAL PARTNERS, LLC:
Tengram Capital Partners, LLC is a private equity firm that focuses exclusively on leading middle-market consumer and retail companies that own strong recognizable brands. The team has a diverse background of consumer investing and operating expertise that assists and guides company management to unlock the true potential of their brand. Tengram invests in both traditional “growth” and “restructuring/turnaround” situations in either the public or private sectors. Previous and current investments for Tengram and its predecessor investment entity, Windsong Brands, LLC, include Tommie Copper, Deva Curl, Laura Geller Beauty, NEST Fragrances, Sequential Brands Group, Robert Graham, Joe Boxer, Field & Stream, and Design Within Reach. Tengram’s website is (www.tengramcapital.com)
