Berkshire Partners acquires majority stake in Implus Corp

Boston-based investment firm Berkshire Partners has become the last financial backer of athletic and training gear manufacturer Implus Corporation. The new investor has acquired a majority stake in the apparel company.

Deal terms have not seen light as yet, although both parties have shared their satisfaction over the reached deal: Berkshire entered into a definitive agreement to acquire a majority position in the company from its previous majority owner, Trilantic North America.

The deal was closed on April, 30 and counted Robert W. Baird & Co as the retailer’s financial adviser and Kirkland & Ellis LLP serving as legal council to the company.

It is worth to remember that Implus has made several acquisitions of its own over the years , including TriggerPoint Performance, Perfect Pushup, Highgear, DryGuy and Penguin Brands.

“We appreciate Trilantic’s support during a transformative part of our company’s growth and believe this new development will ensure our ability to continue providing retailers with an innovative selection of high quality products and the superior customer service for which we strive every day,” CEO Seth Richard said in a statement.

Likewise, David Bordeau , managing director of Berkshire, called the opportunity for growth “compelling.”

Implus, led locally by CEO Richardson and President Todd Vore , has a portfolio of brands that include Yaktrax and Sof Sole and that spams across different product categories including shoe care product, performance socks or seasonal accessories.

They distribute to more than 75,000 retail outlets, according to the company.

Although Implus does not publish its figures, back to 2011, Vore estimated revenues would reach 165 million dollars, recalls ‘BizJournals’.