SurfStitch close to selling Surf Hardware

As shareholders in SurfStitch tally their losses, Crescent Capital, Macquarie Capital and Deloitte have emerged as unlikely winners from the online retailer's failed strategy to become the Amazon Prime of the action sports world.

Twelve months ago private equity firm Crescent Capital and Macquarie sold Avalon-based surf accessories maker Surf Hardware International (SHI) to SurfStitch for $24.3 million cash in a deal managed by Deloitte.