Superfeet said Westward Partners had assumed majority ownership of the insole company to support accelerated growth.
Seattle-based Westward Partners exclusively invests in Northwest companies with performance records, vision and leadership teams. Westward and Superfeet will leverage the strengths each have to expand the Superfeet’s personalization technology.
“When we were introduced to Superfeet, we immediately connected with their vision and values. We recognize, and are excited about, the incredible growth opportunity for the company which is based upon a loyal following of existing customers and recent traction among new customers as they are introduced to the brand, all supported by very strong operational and technical expertise,” said Andy Baldridge, Westward Founder & Partner.
Earlier this year, Superfeet employees crafted their shared five-year vision which includes measuring success not only on profit but also by the positive impact on people and the planet through product and philanthropy. Westward’s plan is for the Superfeet team to continue to lead the way with this value-driven, people-first strategy.
Westward Partners’ investment in Superfeet was made official on June 15. As a privately held company, the price will not be disclosed. As Superfeet transitions from being 100 percent employee-owned, the company will change the structure from an S Corp (Inc.) to an LLC.
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Photo courtesy Superfeet