You’ll like this story about Yeti Coolers—a small company founded by two brothers with a great idea.
A small private-equity firm is about to get a big payoff from a bet on $400 coolers.
If all goes as hoped, Cortec Group, with just 20 employees in Midtown Manhattan, could make a profit on paper of about $3.3 billion in the coming initial public offering of Yeti Holdings Inc., according to people familiar with the matter.
The company is seeking a valuation of $5 billion in its IPO, which could come as soon as October, the people said. Cortec bought a roughly two-thirds stake in 2012 for about $67 million, some of the people said.
Read more about Yeti Coolers here, and here.
