Member Article

Japanese sportswear brand acquires Durham’s Inov-8

Inov-8 the all terrain footwear, apparel and equipment brand, with operations in Crook, Co Durham, has been sold to Japanese sportswear brand Descente, as PE investor Livingbridge exits.

Whilst Livingbridge announced the sale of its investment in inov-8, financial terms were not disclosed.

Livingbridge completed a £13.5m investment in inov-8 in May 2012. Since that time the business has grown twofold, entered new markets and launched a successful clothing range. inov-8 has also won numerous awards for product innovation.

The acquisition by Descente will allow the management team to accelerate the next phase of their international growth plans.

Gordon Baird, CEO of inov-8, said: “This alliance signals an exciting new phase in inov-8’s development following a number of years of sustained growth.

“The investment by Livingbridge in 2012 was a real catalyst for the business strategically and operationally. Livingbridge’s track record and know-how in working with businesses at our stage of development have been invaluable.”

KPMG’s Corporate Finance practice advised Inov-8 on its sale.

Rod Wilkinson, KPMG’s head of Corporate Finance in the Newcastle, said: “We are delighted to have advised this home grown business on its transaction strategy for the second time in three years, having worked with Inov-8 to secure investment from Livingbridge in 2012 who now pass the baton to Descente.

“Inov-8 is a great fit for this sportswear business which has ambitious plans for the brand.”

KPMG’s Transaction Services and Private Client Tax teams also advised on the transaction.

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