Paul Fireman, the Founding CEO of Reebok International, and his company Fireman Capital Partners, returned to the business of high performance athletic shoes with a “significant investment” in Newton Running Co., a manufacturer of natural running footwear.
“Newton Running is the footwear partner weve been seeking for quite some time. It’s a brand that is disruptive in the marketplace, authentic and driven by technology,” said FCP Founding Partner Dan Fireman. “This new investment speaks to the core of Fireman Capital Partners heritage and experience. We took Reebok from a fledgling UK running shoe brand and built it into a multi- billion dollar global business. Our expertise in design, development, sales & marketing will help bring Newton Running to the next level and beyond.”
Dan Fireman along with Joe Farina, an FCP partner, led negotiations with Newton Running Co. Dennis Baldwin and Steve Liggett, both formerly of Reebok, will represent Fireman Capital Partners on the Newton Running Co.’s board of directors. Baldwin’s firm Breakaway Ventures will also participate in the investment as well as provide guidance to the company on strategic branding and marketing.
“Paul ‘s expertise in the athletic footwear industry, combined with our innovative technology, will be a powerful partnership,” said Newton Running Co.’s CEO Jerry Lee. “Newton Running Co.’s patented technology is designed to allow runners to run as if they were barefoot, landing on their midfoot/forefoot instead of landing on their heels. This is the most natural way to run, increasing running efficiency and decreasing impact stress on the body. Newton Natural RunningTM helps athletes run faster while lowering their risk of injury. Newton Running is the favored shoe among several of the world’s top endurance athletes, triathletes and is also rapidly growing with runners of all ability around the world.”
Under Paul Fireman’s leadership, Reebok introduced the first athletic shoe designed specifically for women, igniting a women’s fitness revolution in the mid-80’s and turned Reebok into one of the most recognized brands in the world, expanding to over 170 countries and earning more than $4 billion in revenue.
Newton Running Co. joins a diverse and selective group in the Fireman Capital Partners investment portfolio which also includes Hudson Jeans, Evolution Fresh, Serena & Lily, IdeaPaint and Pilla. FCP’s rebranding efforts for Hudson Jeans is an example of the firm’s expertise and unique ability to help clients grow. Fireman Capital Partner Marla Sabo, former President & COO of Christian Dior Couture Americas, took the company and built it into a major fashion brand by developing new products, building out a seasonal collection with differing segmentation in the marketplace, and through the discovery of spokesmodel Georgia May Jagger , now considered a major presence in the world of fashion.
