Derbyshire, United Kingdom (October 27th, 2011) â€“ Equip Outdoor Technologies Ltd., parent company of the specialist mountaineering brand RabÂ®, has completed the purchase of Lowe Alpine, world renowned manufacturer of innovative backpacks and apparel. Equip sought the assistance of Matrix Private Equity Partners and Santander Bank to help raise Â£20 million to fund the purchase and fund future growth.
Equip, formerly a privately owned company held by Matt Gowar, now operates with a board of directors where Matrix holds a minority stake with Representative Tom Chaloner sitting on the board. Matt Gowar, now CEO, is also joined on the board by Equip Managing Director – Chris Harding, Lowe Alpine Managing Director – David Udberg, and Group Financial Director – Ryan Bennett. Equip, now with the new ownership of Lowe Alpine, employs 90 people across the UK, Europe, and North America and is forecasting almost Â£30 million in revenue for 2012.
This acquisition marks the beginning of an exciting new chapter for Equip. The company has had great success in turning the Rab brand into a true global contender and expects to have equal success with Lowe Alpine. Lowe Alpine has held a reputation for designing and manufacturing high quality and innovative packs and clothing since the brands conception in 1967. Although the brand appeared to have lost its focus while struggling under Italian ownership, Equip plans to reinstate Lowe Alpine’s leading position in the global market and will re-introduce the brands outdoor clothing range which was discontinued in 2009.
Lowe Alpine, although originally founded in Colorado, USA, will return to its long-time headquarters in Kendal, Cumbria. All Lowe Alpine pack and clothing designs as well as global sales and marketing will originate from this office. The Rab brand will continue to be run from Equip’s Alfreton office. North American sales, distribution and marketing efforts for both the Lowe Alpine and Rab brands will be handled from the existing Equip USA, LLC office in Louisville, Colorado. Finally, the existing Lowe Alpine subsidiaries in Germany and the Netherlands will now operate as subsidiaries of Equip and will act for both Rab and Lowe Alpine brands.
The trade can expect to see Lowe Alpine product proudly displayed alongside Rab, PodSacs, and the other Equip-owned brands during the forthcoming winter trade show circuit.
About Lowe Alpine
Lowe Alpine was born in 1967 in the Colorado work shed of climber Greg Lowe. Since that time, Lowe Alpine has become a global brand with a reputation for innovative and high quality products. Since its conception, Lowe Alpine has helped lead climbers to all points of the earth comfortably and reliably. For more on Lowe Alpine, visit www.lowealpine.com.
About Equip Outdoor Technologies Ltd.
Equip Outdoor Technologies Ltd specialises in the design, manufacture and marketing of technical outdoor clothing and equipment. Its experienced and dedicated team develops innovative designs, manufactured to the highest standards and brings them to market throughout the world. For more information, visit www.equipuk.com.
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