Biddeford-based Hyperlite Mountain Gear adds NY investor

Courtesy / Hyperlite Mountain Gear Mike St. Pierre, right, is founder and CEO of Hyperlite Mountain Gear, while Dan St. Pierre is co-founder and CFO. The company recently received an investment by New York-based T-street Capital LLC.

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By Staff

Hyperlite Mountain Gear Inc., a Biddeford maker of high-performance outdoor recreation products, has received an investment from New York-based T-street Capital LLC.

Dale Cheney, general partner at the growth equity firm, on Monday would not disclose to Mainebiz the amount or other details. T-street typically invests $5 million to $25 million in consumer product companies with annual revenues between $10 million and $100 million, according to its website.

Hyperlite's products include lightweight backpacks, shelters, apparel and accessories for hiking, climbing, skiing and other outdoor activities.

Cheney said in a news release, "We believe that we'll continue to see strong growth trends within the health and wellness and outdoor industry, and the Hyperlite brand has successfully captured the consumer's passion for authenticity and high-performance.

“Hyperlite is well positioned to benefit from the rising demand for outdoor gear for the avid backcountry adventurer. We are very enthusiastic to partner with such amazing founders, Mike and Dan St. Pierre, as well as the exceptional team that they have assembled which includes some of the most talented and innovative professionals in the outdoor industry."

Hyperlite CEO Mike St. Pierre said, "This investment marks an important milestone for Hyperlite as we prepare to accelerate our growth and continue to execute our vision of providing the consumer with the knowledge and best-in-class ultralight products and integrated solutions for a transformational outdoor experience."

The company intends to pursue growth both in the U.S. and internationally, according to the release.

St. Pierre and his brother Dan St. Pierre launched Hyperlite in 2010 and in 2018 completed a $1.1 million round of early-stage financing. That investment was led by CEI Ventures, the venture financing arm of the Brunswick-based community development financial institution Coastal Enterprises Inc., along with the Telluride Venture Fund and Maine Venture Fund.

At the time, Hyperlite employed over 50 people and said the investment would allow it to expand production by introducing automation to the company’s manufacturing facility in Biddeford’s historic Pepperell Mill complex.