Mike Valvano, general manager of Mountainsmith, contacted SNEWS® today to let us know that the company is under new ownership. Pacifica Mountainsmith LLC, a private equity firm based in California, has acquired 105 Meridien LLC, the holding company for Mountainsmith and 105 Meridien, from the previous equity owners based in St. Louis. Valvano told us the sale has been in the works for over a year now and that the new owners bring a much stronger equity position to Mountainsmith, which will allow the company to invest more in product development and even consider potential acquisitions down the road. There are no changes to the management structure of the company and the corporate offices remain in Golden, Col. SNEWS® View: The sale has been rumored for some time now, with investment folks even calling SNEWS® to ask us our opinion. Golly, but it's good to be on the inside. From what we have learned, the new equity owners play primarily in real estate and are looking at this acquisition as a means to round out their portfolio for long-term growth, and that could mean good things for Mountainsmith. The fact the management structure has not changed bodes well for the future too.
Did you hear?... SNEWS correction
SnowSports Industries America (SIA) contacted SNEWS® to let us know that we erred slightly in our last news story on Winter Market. We stated that pre-registration numbers from Outdoor Retailer mean nothing because they are free, and lumped SIA into that statement too. In fact, ...read more