In recent months, the acquisition market has started buzzing and the outdoor industry is seeing its fair share of it. Just today, Implus Footcare, LLC announced that they acquired Highgear (maker of altimeter and heart rate monitor watches and electronics). While both companies call the Appalachian Mountains of North Carolina home and both companies are involved in the outdoors, it seems more like a bailout than a match made in heaven. Maybe I’m out of the loop, but it just seems odd.
To be honest, Highgear has been struggling to compete in the high-end market for years. Their watches and technology are good and solid, but not on par with market-leaders Suunto and Polar. My guess is this may be somewhat of a shotgun wedding, but I’m a complete outsider looking at it from outside the fishbowl. I trust that the combined company will now be stronger and more able to deliver high-quality products to the market.
And now the release:
Implus Footcare LLC has acquired Highgear, the provider of performance watches, navigation tools and accessories. The acquisition comes as Implus continues its commitment to expanding its current outdoor and sporting goods product offerings.
Highgear’s products include altimeters, compasses, pedometers and navigational devices, as well as licensed New Balance sports monitors.
“Joining the Implus family provides Highgear with a new sense of energy and additional resources to continue our growth and expansion, and to meet the changing needs of the outdoor market,” said Mike Hosey, President and Founder of Highgear. “The shared strengths and synergies we have with Implus was obvious from the get go, making this transition a natural fit for the Highgear brand.”
“The addition of Highgear® to the Implus brand family greatly increases our reach to the growing outdoor consumer segment,” said Todd Vore, President of Implus. “Highgear’s® line of products allows us to meet the many needs of outdoor enthusiasts and complements our other outdoor brands: Yaktrax, Granger’s and Little Hotties Hand & Body Warmers.”
The acquisition of Highgear comes on the heels of the company’s relocation to an expanded facility in Research Triangle Park, North Carolina. Boasting over 252,000 square feet, the new Implus location brings all of Implus’ distribution operations under one roof. Over the last two years, the company has successfully acquired and grown three major brand expansions: Yaxtrax, a unique line of winter traction footwear, Sneaker Balls, a line of sports air fresheners, and Little Hotties Warmers, a leading provider of hand, body and toe warmers. Implus also became the North American distribution channel for Grangers, a leading company specializing in performance care treatments for fabrics and leather.
More Info: Visit ImplusFootcare.com
11.04.2009 at 8:07 am - by Brig Graff
Maybe they are looking to build something that would compete with Nike’s in-shoe-chip offerings?
11.04.2009 at 12:27 pm - by Jason Mitchell
Maybe so… I’m guessing Highgear was an easy acquisition and they are going to figure out how it will fit into the mix later.