Implus, a portfolio company of Berkshire Partners, has acquired STABIL, a maker of footwear traction products. No financial terms were disclosed.
DURHAM, N.C.–(BUSINESS WIRE)–Implus, a provider of athletic, fitness and outdoor accessories, today announced the acquisition of 32 North Corporation d/b/a STABIL®, the maker of STABILicers®, Stat-A-Rest® and STABIL Turf performance footwear traction products made in the United States and Canada. STABIL will be integrated into Implus’ current portfolio of leading traction brands which includes Yaktrak®, SnowTrax® by Yaktrax and ICEtrekkers®. In conjunction with the transaction, Implus will maintain STABIL’s sales operation based in Biddeford, Maine, with fulfillment transitioning to Implus’ headquarters in Durham, N.C.
“STABIL’s hard work and efforts over the last 25 years have created a perfect product complement to Implus’ leading assortment of traction accessories,” said Seth Richards, CEO of Implus. “We’re excited to offer a multi-branded traction portfolio to our retailer, industrial and government customers as we continue building on our ‘one-stop-shop’ approach for all accessory needs.”
Anne Gould, retiring CFO and Founder of STABIL, said, “Implus is a strong partner to continue growing and innovating STABIL’s comprehensive and well-known product line. I’m certain that under the guidance of the Implus team, STABIL will continue to see the same steady growth that has been the hallmark of the STABIL brand throughout its history.”
STABIL will operate as a subsidiary of Implus, which is majority owned by Berkshire Partners, a Boston-based investment firm. STABIL represents the seventh 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®, and now STABIL®. 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.