Glenbrook Partners invests in Boa Technology • Kali Pro enters road bike helmet market
DENVER, CO (BRAIN) Wednesday June 6 2012 9:21 AM MT—San Francisco-based Glenbrook Consumer Partners is investing in Boa Technology Inc., the creator of the Boa closure system used on cycling shoes and other products, the companies announced Tuesday.
A Boa statement said the investment was completed May 18. The company did not release the dollar amount but said it was "a strategic majority investment to accelerate Boa’s brand growth."
Boa Technology began in 1998 as the brainchild of entrepreneur Gary Hammerslag. He crafted a dial-based prototype that became the Boa Closure System. It's now used in products for cycling, golf, outdoor, snowboarding, and utility, as well as helmets and medical bracing. Boa partners with over 100 brands including K2 Snowboarding, Vans, Footjoy, Specialized, Red Wing, Bata Industrials, TrekSta, Smith, Exos Medical and DeRoyal Medical.
“As demand for our system grows, so does our need to expand our resources and capabilities,” says Mark Soderberg, Boa’s CEO. “The Glenbrook team’s long history and proven track record of supporting great management teams to build world-class consumer brands, coupled with their financial commitment, puts Boa in a stronger position to act on opportunities that will help us achieve our goal of placing a Boa-powered product in every life.”
Long-time Boa president Mark Soderberg assumes the additional role of CEO. Hammerslag will remain company chairman and lead Boa’s new European office opening later this year.
According to the company, Glenbrook makes equity investments of $10 million to $40 million in growth equity transactions and minority and majority recapitalizations. Glenbrook targets profitable branded consumer companies with revenues between $10 million and $100 million.
Kali Pro enters road helmet market
MORGAN HILL, CA (BRAIN) Tuesday June 5 2012 12:45 PM MT—Kali Protectives, which sells mountain bike and BMX helmets and other protective gear, is launching a new road and cross-country helmet line at PressCamp in Utah later this month.
Company co-founder Mike Wilson will sport the new helmet during the Race Across America, starting June 13 in Oceanside, California. Wilson will compete in the solo category.
The new helmet models, the Phenom and the Maraka, feature Composite Fusion Plus and Supervent construction. After PressCamp, the helmets will shown to retailers at DealerCamp in July.
Related: Previous News Briefs