Madison Parker Capital Buys IPATH

Boston-based Madison Parker Capital has acquired Torrance, Calif.-based IPATH, a designer, developer and marketer of skateboarding footwear and apparel. Financial terms of the deal were not released. Madison Parker Capital acquired IPATH from The Timberland Company.

PRESS RELEASE:
Madison Parker Capital, an investment firm based in Boston, Massachusetts, today announced its acquisition of IPATH, a designer, developer and marketer of skateboarding-inspired casual footwear, apparel and accessories. Madison Parker Capital acquired IPATH from The Timberland Company (NYSE: TBL). IPATH will become a wholly owned subsidiary of Madison Parker’s current portfolio company, Klone Lab.

IPATH, based in Torrance, CA, was founded in 1998 by professional skaters in Northern California. IPATH was conceived as a way to break away from the conventions and establish a revolution of skate style designed and tested by skaters. While IPATH shoes are primarily skateboarding specific, they also feature “chill” models designed more for style over skate functionality. A distinctive characteristic of IPATH shoes is the “greener” based product accomplished by offering alternative materials such as organic cotton in their shoes and accessories. For more information, please visit: www.ipath.com.

About Madison Parker Capital
Madison Parker Capital is a Boston-based investment firm focused exclusively on partnership-oriented investments in lower middle-market companies. Madison Parker works with existing management teams, as well as experienced executives, to sponsor minority and majority recapitalizations, growth and consolidation transactions in a wide range of industries including business services, software, healthcare services, industrial/manufacturing, digital media/publishing and consumer/retail. Madison Parker targets companies with operating profits between $2 million and $10 million, with investment sizes ranging from $5 million to $30 million. Detailed information about the firm is available at www.madisonparkercapital.com.