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Latest Stiletto Manufacturing News
Jul 7, 2017
Stiletto Manufacturing nabs $12.5 mln July 7, 2017 Columbia, North Carolina-based boat maker Stiletto Manufacturing has secured $12.5 million in Series A funding. Capital Nexus LLC was the lead investor. BlueDoor Capital Partners advised Stiletto on the transaction. PRESS RELEASE COLUMBIA, NC (PRWEB) JULY 07, 2017 On June 28th, Stiletto Manufacturing closed on a $12.5 million investment, a well-balanced mixture of equity and debt, creating significant momentum for the catamaran maker as it accelerates production of its groundbreaking new models, the Stiletto-X Series. Tony Zhang, President of Capital Nexus, LLC, explains, “Stiletto presents a solid opportunity for growth, leveraging a legacy brand and expert design, production and marketing strategies to become a real player in a market that continues to thrive year over year. We’re excited to be part of this journey.” Funding allows for expansion of Stiletto’s manufacturing facility in Tyrell County, NC, with forecasted production capacity increasing to two or more boats per week and staff growing to 20-25 full time employees over the next year. This initial investment will also fund operating and marketing expenses as Stiletto grows towards its goals. Stiletto Mfg. CEO Jay Phillips says, “I want to thank BlueDoor Capital Partners and, of course, Mr. Zhang for believing in our team and our product. We are fortunate to be surrounded by a community in Eastern North Carolina that can mobilize and support new and growing businesses.” Stiletto X-Series is in demand. Launched in 2015, Stiletto Manufacturing has resurrected the beloved Stiletto Catamaran brand by embarking on a rigorous product development phase, proving design concepts through sea trials and establishing charter locations to allow more people to experience the Stiletto-X. Engineering and production considerations, including tooling and initial plant preparation, are well poised to begin meeting demand through successful expansion. As multi-hulls continue to become a greater percentage of the market, Stiletto emerges as uniquely suited for today’s families and commercial operators, with early indicators suggesting a deep and loyal following. Fast, beachable, trailer-friendly, accessible – and soon to be more available. Appealing to a generation of enthusiasts with fond memories of the classic Stiletto of the 1980s, the all-new Stiletto-X delivers dynamic performance and control at an accessible retail. With the overall recreational boating market experiencing an unprecedented upswing within this price point, Stiletto-X is positioned to appeal to boat buyers whose goals are broad – day outings and overnight sailing-camping adventures are all possible with Stiletto-X’s unmatched versatility. Combining updated styling with the latest America’s Cup race technology, the new series fills a gap in the market with a design that balances speed with control. Ideal for lifestyle enthusiasts seeking a family-sized daysailer, Stiletto-X is truly beachable, easily trailered and accessible both in price and skill level needed. The series includes the fun and affordable Stiletto-X Ultimate Beachcat, the amenity-rich Stiletto-Xc Beachcat Cruiser and the high-performance Stiletto-Xf Foiler. For a boat that has always been a memory maker, having three generations of multihull enthusiasts waiting for a solution like Stiletto-X makes its timing impeccable. The fun has only just begun. About BlueDoor Capital Partners, LLC. BlueDoor Capital Partners is a New York based strategy and capital planning firm, and a trusted leader in underwriting debt and capital for the middle market. For more information visit capitalpartners.us or call Mr. R. Daniel Smith 212-380-8768. About Stiletto Manufacturing Stiletto Manufacturing, Inc. is the builder of the new Stiletto X-Series catamarans. Stiletto has been making memories since 1976. Our mission is not only to produce attainable, fast sailboats but to help make great sailors. For more information, please visit sailstiletto.com or call 1-855-410-SAIL. Find new deal opportunities, super-charge your fundraising efforts and track top managers with VCJ. Get your FREE trial ! Or subscribe now ! Sign up to our Newsletter Receive updates from our PE HUB Wire and Top Stories of the Week newsletters: First Name:
Stiletto Manufacturing Frequently Asked Questions (FAQ)
Where is Stiletto Manufacturing's headquarters?
Stiletto Manufacturing's headquarters is located at 107 S. Water Street, Columbia.
What is Stiletto Manufacturing's latest funding round?
Stiletto Manufacturing's latest funding round is Series A.
How much did Stiletto Manufacturing raise?
Stiletto Manufacturing raised a total of $12.5M.
Who are the investors of Stiletto Manufacturing?
Investors of Stiletto Manufacturing include Nexus Venture Partners.
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