Implus, a portfolio company of Berkshire Partners, has acquired SKLZ, a provider of multisport athletic performance and skill development training products. No financial terms were disclosed.
DURHAM, N.C., Aug. 1, 2018 /PRNewswire/ — Implus®, a provider of athletic, fitness and outdoor accessories, today announced the acquisition of substantially all of the assets of Pro Performance Sports LLC d/b/a SKLZ®, a leading provider of multisport athletic performance and skill development training products. SKLZ will propel Implus into the sporting goods category and further expands their fitness division. In conjunction with the transaction, Implus will be adding a new satellite office in Carlsbad, CA, to support growth into the new category of business.
“The addition of SKLZ to the Implus portfolio adds a top-level product offering and opens up new channels as we develop our position in the sporting goods accessories market,” said Seth Richards, CEO of Implus. “We are excited for the potential growth opportunities in providing their innovative training solutions to our retail partners.”
“We’re very proud of the quality and authenticity of the brand and products our team has created over the past few years,” said Tim Wiseman, CEO of SKLZ. “We think Implus is the perfect partner to build on that base and take this brand to the next level.”
SKLZ will operate as a division of Implus, which is majority owned by Berkshire Partners, a Boston-based investment firm. SKLZ represents the eighth acquisition for Implus since Berkshire’s investment in the company in April 2015.
Headquartered in Durham, North Carolina, Implus is an innovative provider of athletic, fitness, and outdoor accessory products ranging from footcare and seasonal accessories to fitness and recovery solutions. Implus’ family of brands includes Sof Sole®, Balega®, Yaktrax®, apara®, Airplus®, Sneaker Balls®, Sof Comfort®, Little Hotties®, Penguin®, Perfect Fitness®, ICETrekkers®, FitDeck®, DryGuy®, TriggerPoint™, Harbinger®, FuelBelt®, Spenco®, STABIL® and now SKLZ®. Implus proudly distributes to over 75,000 retail outlets across North America and in 70 countries worldwide. For more information, please call 800-446-7587 or visit www.implus.com.
About Berkshire Partners:
Berkshire Partners, a Boston-based investment firm, has raised nine private equity funds with more than $16 billion in aggregate capital and has made over 120 investments in primarily middle market companies since its founding in 1986. Berkshire has developed specific industry experience in several areas including consumer products and retail, communications, business services, industrials and healthcare. Berkshire has a strong history of partnering with management teams to grow the companies in which it invests with the goal of consistently achieving superior investment returns. Other investments in the retail sector have included Aritzia, Carter’s, Kendra Scott, Party City and Portillo’s. The firm is currently investing from Berkshire Fund IX, a $5.5 billion fund raised in 2016.
The firm seeks to invest $50 million to $500 million of capital in each portfolio company. For additional information, visit www.berkshirepartners.com.