Implus® to Expand Product Portfolio in Fitness Category with the Acquisition of Harbinger
DURHAM, North Carolina—September 16, 2015—Implus®, a growing and innovative provider of athletic, fitness, and outdoor accessories, today announced the acquisition of Harbinger®. Founded in 1988, Harbinger is a market leader in high performance strength and fitness accessories with multiple product lines across gloves, belts, straps, strength training aids, and functional fitness items. Harbinger’s history of continuous product innovation has created a diverse following of both high performance athletes and general fitness enthusiasts.
With the acquisition, Implus gains a strong and trusted brand in the growing marketplace for strength and functional fitness. Harbinger adds to Implus’ current core fitness offering which includes the Perfect Fitness® line of exercise accessories and the TriggerPoint® line of wellness and recovery products.
“Implus is committed to products that make a difference in people’s lives,” said Seth Richards, CEO of Implus. “Acquiring Harbinger puts Implus in a position to target a broader market within the fitness category in order to grow our customer base and help establish us as one of the leaders in the health and fitness markets.”
"Harbinger is built on a legacy of innovation, performance, and quality," said David McCrane, founder and President of Harbinger. "We've grown from our original WristWrap weightlifting glove to a nationally-known brand with more than 75 fitness products sold at major sporting goods and specialty fitness retailers. Joining Implus gives Harbinger the resources to continue to expand in both product and distribution."
Harbinger will operate as part of Implus’ portfolio of fitness brands. Implus is majority owned by Berkshire Partners, a Boston-based investment firm. Harbinger represents the second brand addition to the Implus portfolio since Berkshire’s investment in Implus in April.
Robert W. Baird & Co. served as financial advisor to Harbinger for the transaction while Greenberg Traurig LLP acted as legal counsel to Harbinger. Bryan Cave LLP acted as legal counsel to Implus. Financial terms for the transaction have not been disclosed.
About Implus Corporation
Headquartered in Durham, North Carolina, Implus is an innovative provider of products ranging from footcare and seasonal accessories to fitness and recovery solutions. Implus’s brand family includes Sof Sole®, Yaktrax®, Apara®, Airplus®, Sneaker Balls®, Sof Comfort®, Little Hotties®, Penguin®, Perfect Fitness®, ICETrekkers®, FitDeck®, DryGuy®, TriggerPoint®, Balega®, and now, Harbinger®. Implus proudly distributes in 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 Harbinger Fitness
Harbinger built its reputation as an authentic, performance-oriented brand for athletes and fitness enthusiasts. Harbinger offers innovation, technology, quality and value at every price point. With numerous patents on gloves and other training items, Harbinger continues to bring new products to the market. Harbinger offers products for power weightlifting, strength training, home exercise, and core training. Harbinger is the brand of choice for athletes serious about their training and achieving their personal fitness goals.
About Berkshire Partners
Berkshire Partners, the Boston-based investment firm, has invested in over 100 middle market companies since 1986 through eight private equity funds with aggregate capital commitments of over $11 billion. Berkshire has developed specific industry experience in several areas including consumer products and retail, business services, industrials, communications, and transportation. 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. The firm is currently investing from Berkshire Fund VIII, a $4.5 billion fund raised in 2011. Berkshire seeks to invest $50 million to $500 million of equity capital in each portfolio company. For additional information, visit www.berkshirepartners.com.