The Denver Post ran a story about the Coors family recently capitalizing on its recent investment in technology, temperature-controlling technology developer Outlast Technologies. Acquired in April of 2012 through its private equity firm Golden Equity Investments, the Coors had moved Outlast's offices from Boulder to a spacious property a few miles where its brewery is based.
Outlast chief executive Michael Coors expressed his family's excitement over the company's growth plans. "The Coors family is in the market for new and interesting technologies that we become aware of and can take from where they are and grow them to the next level. What we really liked about Outlast was that they were really strong in textiles, but the technology has so many uses outside of textiles," Coors said.
Founded in 1990 by Ed Payne and Bernard Perry, it had provided products equipped with the temperature-control technology for clients like Burton, Jockey, Vans, Nike and Sealy. Payne and Perry initially raised USD12 million but had sold the company to the Coors after misunderstanding ensued over the company's direction.
"At the end of the day, when we took the investments, we certainly needed them, but the consequences of taking the investments were that the business didn't progress as we would have liked. But that being said, the company is a thriving business, a global brand, profitable and growing. The outlook for the business is tremendous," Perry said.
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