Outdoor sports clothing company Montane has been bought by a specialist consumer brand investor in a multi-million pound deal.
Edinburgh firm Inverleith LLP has secured a significant majority stake in the Ashington-based company, which has a turnover in excess of £13m.
The brand which employs 40 staff at its site on the North Seaton Industrial Estate in Northumberland currently distributes to more than 30 countries – representing about 30% of turnover.
The undisclosed investment will see Montane expand the distribution of its specialist fast-paced mountain sport products both in the UK and internationally, with a sharpened focus on product development.
Current managing director Jake Doxat will step back from the day-to-day management of the firm, which was founded 25 years ago.
He will, however, remain a minority shareholder and board director, while also focussing on a new role as a global brand ambassador for Montane.
Mr Doxat said: “I am delighted to have secured Inverleith LLP as the majority investor into Montane. 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. I look forward to continuing to contribute to Montane’s growth as a board director.”
Inverleith LLP managing partner Paul Skipworth said: “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.
“We look forward to enabling an even wider audience to engage with Montane in the UK and internationally, helping them to fuel their passion for outdoor sports with a ‘Further. Faster.’ mindset.”
Northumberland business news
Montane targets the high-performance segments of the outdoor markets, and has established itself as the leading European specialist brand of lightweight, breathable outdoor clothing and equipment for fast-paced mountain sports.
It focuses on serving committed and highly active hillwalkers, mountaineers, climbers and trail runners though a range that has steadily expanded to encompass outerwear, mid and base layers, legwear, backpacks and accessories for both men and women.
The company enjoys endorsements from professionals within the fast-paced mountain sport environment, as well as being the British Mountaineering Council’s recommended clothing and pack partner.
It is also headline sponsor of a number of globally recognised events, such as the Tor des Géants, The Montane Lakeland 100, The Montane Yukon Arctic Ultra, and The Montane Spine Race, some of the most challenging and famous ultra events in the world.
Inverleith LLP is an investor in a number of consumer brands, including Good Hemp, Planet Organic and Montezuma’s.
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