Financial Investment but for the Long Term

In recent months, I’ve been fortunate to engage with some of the brightest minds in finance—investment bankers, private equity specialists, and others deeply immersed in the world of capital. These conversations have ranged across various opportunities I’m involved in, but regardless of where they start, they almost always gravitate back to the same topic: Cactus Outdoor.

There’s a curiosity, almost a fascination, with what we’ve built. Some are intrigued by our partnership with a 130-year-old Italian-based global tunnelling company to supply product for their team. Others may have noticed our distinctive stickers on countless vehicles across New Zealand and elsewhere. And then there are those who, as snow sports enthusiasts, have seen ski patrollers worldwide decked out in our gear. Wherever they’re coming from, these financial professionals inevitably ask similar questions: They want to know how we’ve created such a resilient, beloved brand. They wonder aloud how much funding we might be seeking or whether we’d welcome their excited investors on this journey.

Their interest is flattering, of course, but it also reaffirms the unique place Cactus holds in people’s lives. This is more than a brand; it’s a symbol of durability, authenticity, and community.

I have daily reminders of this community, and the most recent one happened the week before Christmas. We were flying north to interview potential employees for our Auckland store when the enormity of what we’ve built came home yet again.

Our flight attendant, after delivering the pilots their meals, came back out with the First Officer’s hat. This seemed a bit weird but whatever. The flight attendant came up to us and said that the First Officer was very keen to show us the inside of his cap. There, in prime position, he had affixed one of our Cactus stickers.This small gesture spoke volumes. Here was a professional pilot, someone entrusted with tremendous responsibility, choosing to carry a piece of Cactus with him wherever he went. That connection – the kind we’ve fostered with countless people over the years – isn’t something you can manufacture. It’s earned through authenticity, dedication, and an unwavering commitment to quality.

The story isn’t unique, either. Over the years, we’ve heard from customers who’ve chosen to wear Cactus gear during life’s most important moments. Some have even gotten married in our clothing, choosing to celebrate their day in a way that reflects their values and their connection to the brand. More profoundly, there are those who have been either had the opportunity to chose, or has their nearest and dearest make the decision that they should be buried in their favourite Cactus pants – a testament to how deeply our products resonate with their owners. It’s an emotional and humbling reminder of the role we play in people’s lives.

That’s why I’m very clear when I discuss our funding opportunities with third parties – pump and dump isn’t our thing. Our industry is rife with people who took on some investment capital only to have the very thing they’re trying to scale – their valuable brand – sell out and become some generic ersatz version of itself.

That’s a model that is not for Cactus. We’re having these conversations and are absolutely open to partnering with the right people to scale what we have. But not at the expense of the very thing that is so valuable – our authenticity and commitment to holding the line. Like the global examples of Mars Inc., Hermès and WalMart, we’re building something that will be around in a century, there’s not many people who have that level of vision and ambition, but it’s something our customers expect of us.

The opportunity before us is a big one. The global appetite for high-performance, sustainable outdoor gear is growing rapidly. More than ever, customers are seeking products that align with their values – gear that’s built to last, ethically produced, and genuinely authentic. That’s the space Cactus occupies, and it’s where we’re poised to lead.

And it’s the thing that is a non-negotiable in potential partners.

You could be forgiven that this article is a message about Cactus and, while it is that in part, it’s far more than that. This is a treatise about a different approach, one that builds long-term value instead of the transactional approach towards business. One that foregoes the allure of ongoing quarterly or even annual profits instead choosing to opt for long-term growth. At its essence, it’s a hypothesis about how business should be done but also a prediction for how business will be done in the future.

Many colleagues are enjoying a well-earned break over the holiday season – my challenge to you is how you can think about what you do within the various organisations you are involved with that builds something authentic and enduring. There’s a New Year’s resolution worth sticking with.