Silver Steep Partners Creates Advisory Board

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SILVER STEEP PARTNERS, LEADING INVESTMENT BANKING FIRM WITH OUTDOOR INDUSTRY FOCUS, ESTABLISHES ADVISORY BOARD OF OUTDOOR BUSINESS LEADERS


Mountain Hardwear’s Founder Jack Gilbert and Black Diamond’s CEO Peter Metcalf Join
Newly Created Board of Advisors

SEATTLE, WASH. (October 13, 2006) — Silver Steep Partners, one of the leading investment banking firms catering exclusively to companies in the outdoor and active lifestyle industry, today established an advisory board with two of the industry’s most accomplished business leaders: Jack Gilbert, founder and former CEO of Mountain Hardwear, a leading designer and manufacturer of alpine apparel and gear; and Peter Metcalf, founder and current CEO of Black Diamond Equipment, a leading designer and manufacturer of equipment for rock climbing, mountaineering and backcountry skiing. The advisory board will play a pivotal role in guiding the firm as it continues to offer financial and strategic advice to its clients.

“We felt it was important to further enhance our expertise in bringing companies together by adding another level of proven professionals that will provide even greater insight into the industry as it evolves,” said Nathan Pund, founding partner of Silver Steep Partners. “Both Jack and Peter played central roles in the development of the outdoor industry and are highly respected for their business accomplishments, not to mention their commitment and involvement in conservation and the environment. Adding to the already deep level of experience and expertise at Silver Steep Partners, clients will benefit directly from their 50 plus years of combined industry experience.”

Jack Gilbert began his career as the vice president of sales and marketing at The North Face from 1968 to 1988, where he also served on the company’s board of directors. From 1988 to 1991, Gilbert worked for Outdoor Retailer and then moved on to serve as Sierra Design’s president from 1991 to 1993. In 1993, Gilbert, along with business partner Paul Kramer, founded Mountain Hardwear, building the business into one of the most respected and trusted brands for alpine and outdoor apparel in the industry.

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“I am enthusiastic about my new role with Silver Steep Partners,” said Gilbert. “It’s important to ensure the continued growth of the outdoor industry and to protect its fundamental principles by participating in every level of the industry.”

Peter Metcalf began his involvement in the outdoor industry as a climbing partner and business partner of Yvon Chouinard, the founder and chairman of Patagonia. Metcalf joined Mr. Chouinard in 1982 as product, sales and marketing manager of Chouinard Equipment, a respected provider, at the time, of technical rock climbing gear. In 1989, after the company was put into Chapter 11 bankruptcy, Metcalf, with the support of key managers and employees, created a new company, named Black Diamond Equipment, to purchase Chouinard’s assets out of bankruptcy. Today, Black Diamond Equipment is the world’s leading provider of technical mountaineering and alpine equipment selling gear under the Black Diamond, Bibler, Fritschi Diamir and Beal Ropes brand names.

“I am excited about the opportunity to work side by side with Silver Steep, especially as the industry matures in response to consumer demands and a changing business environment. I look forward to lending my expertise to this experienced group, a group that looks at the industry from a different perspective.”

Since the firm’s inception less than two years ago, Silver Steep Partners has successfully completed several transactions including the sale of Montrail (manufacturer of performance and casual outdoor footwear) to Columbia Sportswear; the sale of Overland Equipment (manufacturer of contemporary lifestyle bags) to a private investor; and the completion of a strategic advisory role to CamelBak and Bear Stearns Merchant Banking.

About Silver Steep Partners: Silver Steep Partners, LLC is a financial advisory firm specializing exclusively in the specialty outdoor and active lifestyle industry. The firm advises companies and investors on mergers, acquisitions and the placement of private capital. Silver Steep has its headquarters in Seattle, Washington. For more information, visit www.silversteep.com.



Silver Steep Partners, LLC
1735 Westlake Avenue North
Suite 400
Seattle, WA 98109
www.silversteep.com