Equip Outdoor Technologies, parent company of the specialist mountaineering brand Rab has finalized the purchase of Lowe Alpine. Matrix Private Equity Partners worked with Equip to help fund the £20 million deal.
Matrix now holds a minority stake on the Equip board, represented by Tom Chaloner. Other executive shuffling took place as well. Matt Gowar, formerly the private owner of Equip now acts as CEO. Joining Chaloner and Gowar on the board are Equip Managing Director, Chris Harding, Lowe Alpine Managing Director, David Udberg, and Group Financial Director, Ryan Bennett.
Equip now employs 90 people across the UK, Europe, and North America, predicting almost £30 million in revenue for 2012. Equip is looking to mimic their success with the Rab brand with the newly acquired Lowe Alpine brand. Lowe Alpine has created high quality packs and clothing since 1967. However Lowe's outdoor clothing range was discontinued in 2009, a category Equip plans to bring back.
Lowe Alpine's pack and clothing designs, global sales and marketing will be run out of the long-time headquarters in Kendal, Cumbria. North American sales, distribution and marketing efforts for both the Lowe Alpine and Rab brands will be handled from the existing Equip USA office in Louisville, Colorado.
The most obvious signs of this merger will come from the upcoming winter trade shows, where Lowe Alpine product will be displayed alongside Rab, Podsacs and other Equip brands.