Addition to portfolio
Inverleith acquires sportswear firm Montane
Montane targets the high-performance market
Scottish consumer brand investor Inverleith has acquired a controlling stake in Montane, the UK outdoor clothing and accessories company.
Montane focuses on serving hillwalkers, mountaineers, climbers and trail runners.
Its range has steadily expanded to encompass a broad range of outerwear, mid and base layers, legwear, backpacks and accessories for both men and women, with its products sold both in the UK and internationally.
Edinburgh-based Inverleith’s partners include former chairman and chief executive of Noble Group, Ben Thomson and ex-chief executive of Glenmorangie Paul Skipworth.
Montane based in Ashington in Northumbria since 1993, 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.
The company 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.
Ben Thomson: partner (pic: Terry Murden)
The investment from Inverleith will see the company expand the distribution of its specialist fast-paced mountain sport products both in the UK and internationally, with a sharpened focus on product development in this rapidly growing market.
After a period of transition, managing director Jake Doxat at will step back from the day-to-day management of the company, while remaining a minority shareholder, board Director and focusing on a new role as a global brand ambassador for the company.
He 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.’
Inverleith managing partner, Paul Skipworth, said: “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.”
Other Inverleith portfolio investments through its Fund include majority stakes in The Scotch Malt Whisky Society, a premium single cask spirits club; Good Hemp, the UK’s leading producer of hemp based food and drink products and ingredients; Planet Organic, the renowned London based health and wellness supermarket and food-to-go chain, and Montezuma’s, the UK’s leading premium artisan chocolate brand.
Montane’s shareholders were advised by KPMG Corporate Finance and the law firm OTB Eveling. Inverleith’s legal adviser was Burges Salmon, tax and accounting adviser Johnston Carmichael and commercial due diligence was undertaken by Kin & Carta.