Implus, which is backed by Berkshire Partners, has acquired RockTape, a provider of kinesiology tape, medical education and other health and wellness products. No financial terms were disclosed. D.A. Davidson & Co. provided financial advice to RockTape on the transaction.
DURHAM, N.C., Oct. 2, 2018 /PRNewswire/ — Implus, the market leader in athletic, fitness and outdoor accessories, today announced the acquisition of RockTape®, a leading provider of kinesiology tape, medical education and other health and wellness products. RockTape’s products will be additive to Implus’ existing suite of health and wellness brands which include TriggerPoint™, Harbinger®, Spenco®, Perfect Fitness® and SKLZ®. In conjunction with the transaction, RockTape’s existing office in Campbell, CA, will be maintained to support the expansion of a newly created Clinical vertical within Implus for RockTape and other Implus products.
“We’re excited to be partnering with the RockTape team and think the brand has massive room for growth within our current distribution network,” said Seth Richards, CEO of Implus. “In addition, the existing team’s experience in the Clinical channel should provide tangible benefits for a number of our other brands.”
“My team and partners at RockTape built an awesome business by providing great product and relevant education with the key focus of making people’s lives better,” said Greg van den Dries, CEO of RockTape. “I think Implus is the perfect partner to build on those core values.”
RockTape will operate within the portfolio of brands of Implus, which is majority owned by Berkshire Partners, a Boston-based investment firm. RockTape represents the ninth acquisition for Implus since Berkshire’s investment in the company in April 2015, and twentieth overall.
D.A. Davidson & Co. served as financial advisor to RockTape on this transaction.
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®, SKLZ® and now RockTape®. 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 consumer products sector have included Melissa & Doug, Carter’s, Kendra Scott and Party City. 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.
About D.A. Davidson:
D.A. Davidson Companies is an employee-owned financial services firm offering a range of financial services and advice to individuals, corporations, institutions and municipalities nationwide. Founded in 1935 and headquartered in Montana, with corporate offices in Denver, Los Angeles, Portland and Seattle, the company has more than 1,350 employees and offices in 25 states. D.A. Davidson & Co.’s investment banking division is a leading full-service investment bank that offers comprehensive financial advisory and capital markets expertise. The group has extensive transaction experience serving middle market clients worldwide across five industry verticals: consumer, diversified industrials financial institutions, real estate and technology. Together with its European strategic partner, MCF Corporate Finance, D.A. Davidson originates and executes transatlantic M&A transactions under the common brand of D.A. Davidson MCF International.