Equip Outdoor Technologies Ltd. said it closed on its £20 million ($33 mm) purchase of Lowe Alpine, a 44-year-old brand that had been withering under Italian ownership in recent years. 


Equip Outdoor also disclosed that Matrix Private Equity Partners, which helped finance the acquisition, has taken a minority stake on Equip Outdoor's new board of directors. Board members include Matrix's Tom Chaloner, Equip Outdoor Founder and CEO Matt Gowar, Equip Managing Director Chris Harding, Lowe Alpine Managing Director David Udberg, and Group Financial Director Ryan Bennett.

 

Now that is has closed the deal, U.K.-based Equip employs 90 people in the United Kindom, Europe, and North America and is forecasting almost £30 million ($49 mm) in revenue for 2012.


Lowe Alpine has had 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.

Although founded by legendary climber Jeff Lower in Colorado in 1967, Lowe Alpine will return to its long-time headquarters in Kendal, Cumbria in the United Kingdom. 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, CO. 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.