Farragut Invests in Blue Ocean Brands

CHEVY CHASE, MD – Farragut Capital Partners is pleased to announce the closing of an investment in Blue Ocean Brands to support the acquisition of Majik Rent-To-Own.  Farragut invested Unitranche debt and equity alongside Skyline Investors to support the acquisition of the company.

Founded in 1984 and headquartered in Mountville, Pennsylvania, Majik is an independent rent-to-own retail chain with thirteen stores across Central Pennsylvania.  The investment will enable Blue Ocean Brands to pursue additional acquisitions and growth initiatives.  Blue Ocean Brands, led by a team of industry veterans, will merge their current rent-to-own store platform with the newly acquired stores in forming Blue Ocean Brands.

Rob Hagerty of Farragut said of the transaction, “We are excited to partner with the Blue Ocean team and Skyline to support Blue Ocean in this acquisition opportunity.  Majik is a top-flight operator in the rent-to-own industry, providing differentiated service and an outstanding customer experience.  We look forward to Blue Ocean continuing to execute their growth strategy.”

Bill Short of Blue Ocean, added, “The Farragut team took the time to understand the unique characteristics of the rent-to-own industry and what makes Majik an exceptional player in the space.  We are thrilled with this partnership and look forward to working together to solidify Blue Ocean’s position as an industry leader providing a differentiated exit opportunity for legacy rent-to-own owners.”

The Blue Ocean Brands transaction marks the third in Farragut’s latest investment vehicle, Farragut SBIC Fund III, LP.

For more information on Majik, please visit www.gomajik.com