Sun Mountain Sports, the maker of golf equipment and apparel, has been acquired by Solace Capital Partners, based in Los Angeles. The seller was founder Rick Reimers.
Sun Mountain will remain headquartered in Missoula, MT and will continue to be led by its current management team, including long-time executive Ed Kowachek, who will assume the role of CEO and Blake Ludwig, CFO. Reimers will retain ownership of Sun Mountain Motor Sports, which produces electric golf carts under the Finn Scooters brand. The terms of the transaction were not disclosed.
Founded in 1981, Sun Mountain is known for its golf bags, pushcarts, and outerwear. Sun Mountain claims to have developed the first lightweight golf bag and modern stand bag and is an independent golf bag manufacturer in North America. The company was also early in introducing golf-specific performance outerwear and rainwear and credited with inventing the three-wheel golf pushcart.
Brett Wyard, managing partner, Solace, said, “Sun Mountain is widely recognized as the standard in golf bags, pushcarts and outerwear due to its superior product quality and commitment to innovation. Under Rick’s ownership, the Company has built a stellar reputation for excellence, and we see attractive opportunities to grow the business and bring its wide range of products to as many golfers as possible. We look forward to working alongside Sun Mountain’s highly-experienced, long-tenured management team and talented employees to continue to provide solutions for golfers and steward the Company in its next phase.”
Kowachek said, “Our mission will always be to create original, world-class golf products that enhance our customers’ experience and performance on and off the course. We are pleased to partner with Solace, which possesses substantial financial resources and operational expertise, to execute our mission on an even larger scale. I have been incredibly fortunate to work with and learn from Rick over the years and will strive to continue the legacy of a man who did so much to improve the sport of golf.”
Reimers said, “For 40 years, Sun Mountain has watched and listened to golfers and worked diligently to create products that make the sport a more enjoyable experience. I am proud of the patents we have earned, the innovations we have ushered in, and the lifelong friends I have made along the way. Solace brings a shared sense of values and deep appreciation for the brand, and I am confident that under Ed’s and the Sun Mountain team’s leadership, the Company’s best days are ahead.”
Three Ocean Partners served as financial advisor to Sun Mountain and Herrick LLP served as its legal counsel. O’Melveny & Myers LLP served as
