Implus Plans Vertical Expansion for African Continent Through Acquisition
DURHAM, N.C. (June 14, 2016) – Implus, a provider of athletic, fitness, and outdoor accessories, today announced the acquisition of the assets of MCN Solutions CC. Based in Cape Town, South Africa, MCN previously operated as a distributor of Implus and other branded sporting goods products in the region. MCN’s key stakeholders, Marc Smith and Rebecca Laird, will remain in management roles with the newly formed Implus Africa.
With the acquisition, Implus gains a vertical operation on the African continent, a region it had historically serviced through a variety of distributors across its brands.
“Africa represents an exciting region of growth for Implus,” said Seth Richards, CEO of Implus. “When combining the localized knowledge and expertise of Marc and Rebecca with the portfolio of products and sourcing expertise of Implus, this is a win-win situation in a growing, untapped retail landscape.”
“We are thrilled to join Implus in their Africa expansion,” said Marc Smith. “This move will represent significant market growth for Implus’ products, and we are looking forward to working with the team to facilitate this growth.”
Implus Africa will operate as a subsidiary of Implus who is majority owned by Berkshire Partners, a Boston-based investment firm. MCN represents the 4th acquisition for Implus since Berkshire’s investment in Implus in April 2015.
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®, Balega®, Yaktrax®, Apara®, Airplus®, Sneaker Balls®, Sof Comfort®, Little Hotties®, Penguin®, Perfect Fitness®, ICETrekkers®, FitDeck®, DryGuy®, TriggerPoint®, Balega®, Harbinger® and FuelBelt®. 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 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 115 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, 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. In March 2016, Berkshire completed fundraising for Fund IX, which has $5.5 billion in commitments. The firm seeks to invest $50 million to $500 million of capital in each portfolio company. For additional information, visit www.berkshirepartners.com.
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