Sleeping Bear Capital, a founder-focused private equity firm, announced today that it has acquired Venice Longboards, a leading skateboarding e-commerce and lifestyle brand that specializes in electric longboards. Venice Longboards founder, Brett Casaccio, will continue in his current role and maintain an ownership interest in the company. Following the acquisition, Sleeping Bear will work closely with Casaccio on key growth initiatives.
“We believe Venice Longboards has immense potential as a growing brand in the explosive longboarding segment of the $2 billion global skateboarding industry,” said Ranvir Gujral, managing partner of Sleeping Bear Capital. “We share Brett’s ambitious goals for the next chapter of growth at Venice Longboards and appreciate his entrepreneurial drive and passion that grew the business to where it is today.”
“In the Sleeping Bear Capital team, I have like-minded partners who understand our business and are excited to help grow our capabilities,” said Casaccio. “I am truly humbled that Sleeping Bear Capital and Ranvir share my vision for growth and believe in the brand. I’m extremely excited about the future of Venice Longboards under their ownership and look forward to leveraging the benefits of the Sleeping Bear Capital portfolio.”