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KENT, WA, USA and KATHMANDU, NEPAL — April 26, 2016 —Sherpa Adventure Gear® is pleased to announce a merger with investment holding company, Innov8 Partners, and the appointment of highly experienced professionals Dan and Kelsie Costa as chief executive officer and president, respectively. The merging of these two companies and newly-appointed leadership will improve Sherpa Adventure Gear’s productivity by offering more resources with which to bring Sherpa’s top-shelf products to market, grow its professional team on all fronts, and allow the brand to expand its educational programs in Nepal.
With the merger, company founder Tashi Sherpa will step away as chief executive officer of Sherpa Adventure Gear, but will remain actively associated with the brand as an independent vendor through his original businesses, Duo Wear and Sherpa Adventure Gear Nepal.
Tashi Sherpa’s daughters, Tsedo Sherpa and Pema Sherpa, will dive into the roles of chief operating officer and product development manager respectively.
“Our new CEO, Dan Costa, his daughter Kelsie and his team at Innov8 share our family’s values and have a real passion for our brand story,” says Sherpa Adventure Gear COO Tsedo Sherpa. “We look forward to working with them, and we are impressed by the knowledge and experience they bring to the table.”
“We were thrilled at the opportunity to partner with such a fantastic brand in the outdoor industry,” says Kelsie Costa, newly-appointed president of Sherpa Adventure Gear. “The fact that we are both family owned and operated companies made us an exceptional fit because we are able to understand the principles and values that define us as humans leading brands that continually strive to grow and do more for our communities. We have no doubt that this partnership will flourish the business and bolster the charitable arm of the brand.”
The partnership will keep Sherpa Adventure Gear’s values and mission in tact, while expanding the brand’s visibility and prominence within the industry. In addition, the merger will further grow support for economic development in Nepal, as well as create even greater opportunities for young Sherpa children through Sherpa Adventure Gear’s scholarship program with the Paldorje Education Fund.
About Sherpa Adventure Gear
In the highest reaches of the Himalayas, the Sherpa people lead the world in mountaineering with warmth, grace and good humour. Tashi Sherpa—upon discovering that his uncle was on Sir Edmund Hilary’s celebrated 1953 expedition to the summit of Everest—founded Sherpa Adventure Gear in 2003 in this spirit, to honour his people by creating the best quality outdoor apparel made in Nepal. The company employs hundreds in Kathmandu and Nepal at its headquarters, stores and manufacturing operations. Marketing and North American sales and distribution is based in Kent, Washington. A portion of every sale benefits the education of Sherpa children through the Paldorje Education Fund, an IRS 501(c)(3) charitable arm the company established in May 2012. For more information, visit http://www.sherpaadventuregear.com.
About Innov8 Partners
Innov8 Partners is an investment holding company started in 2010, with a vision to build value in the investee companies, by providing capital resources, support, and highly skilled and talented management teams.