Outdoor brand Montane acquired by Edinburgh investor
Edinburgh-based specialist consumer brand investor Inverleith LLP has snapped up a majority stake in Montane, an outdoor clothing and accessories brand from Ashington, Northumberland.
Brand founder and managing director Jake Doxat will retain a minority interest in the business.
Inverleith LLP did not disclose the value of the deal, but Business Live said it was a ‘multi-million pound’ transaction.
Founded over 25 years ago, Montane has carved out a niche in the mountain sports market by offering lightweight breathable clothing and equipment with a focus on performance.
Its range of products encompasses a broad assortment of outerwear, mid and base layers, legwear, backpacks and accessories for both men and women.
Doxat, who will step back from his role after a period of transition but remain a board director, said that Inverleith’s support will help further expand the company’s reach in the UK and abroad.
Montane is known in the mountain sports circuit for sponsoring several high-profile events such as the Tor des Géants, The Montane Lakeland 100, The Montane Yukon Arctic Ultra and The Montane Spine Race.
Commenting on the deal, Doxat said: “After over two decades at the helm, it is time to hand over the reins of Montane to a passionate new owner who recognises the strength of Montane’s differentiated position, who shares the company’s values and beliefs and who has the consumer and commercial expertise to help steer the company to its next level of growth. I am confident that Montane will continue its positive momentum under its new and complementary majority shareholder.”
Inverleith LLP managing partner, Paul Skipworth, added: “‘I am delighted to see Montane join the Inverleith family of consumer brands. Consumers in this area are seeking brands with heritage, authenticity and credibility; brands that are both highly functional, yet also attractively designed. Montane fits these requirements as a company and brand that has been built steadily over the last 25 years and has become recognised and admired within this environment.”
Inverleith LLP invests in the health and wellbeing, lifestyle and heritage sectors, and its stable of brands includes drink firm Good Hemp, The Scotch Malt Whisky Society and chocolate brand Montezuma’s.
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