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.
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.