Assertion Supported AI assessment confidence: 88% certainty 4/5 debate potential 1/5

Solo Stove reached a mid-nine-figure valuation in its secondary PE transaction

Spencer Jan · Solo Stove: Spencer and Jeff Jan · Aug 14, 2023 · at 55:11

Solo Stove co-founder Spencer Jan describes selling a majority stake to a second private equity firm during the outdoor retail boom spurred by the COVID-19 pandemic.

0:00 / 0:18exact quote · 19.0s

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“I mean, it was mind-blowing to me that, you know, from being in the low nine figures, just over a hundred million dollars, to now being well into the mid-nine figures on this next Private equity exit. You know, we would sell less shares than we did the first time, but the rewards were much greater the second time.”

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The claim, plainly

Solo Stove's valuation grew from just over $100 million in its initial private equity sale to mid-nine figures during its second private equity transaction roughly a year later.

a quote alone can be ambiguous, so this restates it with the references and context of the conversation around it resolved. AI-written; the tape below the player is the source.

Assessment

SEC filings for Solo Brands, Inc. (Form S-1 filed in October 2021) substantiate both legs of the claim. In the initial private equity transaction on September 24, 2019, Bertram Capital (via SS Acquisitions, Inc.) acquired 66.74% of the operating business for $52.3 million in cash consideration, representing an implied equity valuation of approximately $78.4 million and a total capitalized enterprise value in the low-$100 million range. Approximately one year later, on October 9, 2020, Summit Partners acquired a 58.82% equity stake for $273.1 million alongside $30.0 million in subordinated debt, representing an implied equity valuation of approximately $464.3 million and an enterprise valuation near $500 million, squarely in the mid-nine figures.

Solo Brands, Inc. Form S-1 (filed October 4, 2021) documents that on September 24, 2019, Bertram Capital acquired a 66.74% stake in Solo DTC Brands, LLC for $52.3 million (implied equity value ~$78.4M; capitalized enterprise value in the low-$100M range).
Solo Brands, Inc. Form S-1 documents that on October 9, 2020 (~1 year later), Summit Partners acquired a 58.82% stake for $273.1 million plus $30.0 million in subordinated notes (implied equity value ~$464.3M; enterprise value ~$500M, fitting mid-nine figures).

Checked against

[1] sec.gov [2] q4cdn.com [3] q4cdn.com [4] edgar-online.com [5] sec.gov [6] sec.gov [7] edgar-online.com

"Bertram Capital" "Solo Stove" "October 2020" "Summit Partners" valuation "Solo Brands, Inc." "Form S-1" "Bertram Capital" OR "Summit Partners" acquisition "Solo Stove" "Bertram Capital" OR "Summit Partners" valuation OR acquisition OR "S-1" OR "SEC" "Solo Stove Holdings" "October 9, 2020" "goodwill" "consideration" "purchase price allocation"

assessed as of 2026-09-03

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Solo Stove Spencer Jan

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Spencer Jan Aug 14, 2023 ▶ 23:42 Solo Stove: Spencer and Jeff Jan