Photo credit: USFWS/Ryan Hagarty
By MATT BLOIS
A father and son team of former corporate executives from Franklin are creating a network of outdoor clothing brands.
Bill and William Spalding started a new company called ARES Outdoors a few months ago. Bill Spalding has served in leadership roles at several health care companies, while his sone William Spalding ran strategic operations for part of LifePoint Health.
They plan to purchase five to eight outdoor clothing brands to form a cohesive network. On Tuesday they announced their first acquisition, a Minnesota clothing company called THLETE. THETE makes high end clothing for hunting.
ARES Outdoors plans to expand the product line and increase marketing efforts.
The Spaldings are using their own money to invest in the companies. The company is looking to acquire companies worth $250,000 to $25 million. The company didn’t reveal the cost of the first transaction.
They plan to combine marketing efforts and some back office services for the companies they purchase, which William Spalding believes will reduce costs.
“Think of it like a Procter and Gamble where you have a combination of brands centered on this holding company, but they share services,” he said. “Best in class marketing, supply chain, inventory. All that back office work will be housed across all the brands.”
Spalding said the new company is willing to work with clothing brands to find an agreement that works. That could mean an entrepreneur can sell the business and retire, but others might want to stay involved. The company is open to full acquisitions or partial acquisitions.
ARES Outdoors is still looking for more companies to buy. Spalding said the company is talking to several other brands about acquisitions.