Deal Details

Sale to Implus Corporation

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Summary

About

Harbinger Fitness (“Harbinger” or the “Company”), was recently acquired by Implus Corporation (“Implus”), a portfolio company of Berkshire Partners LLC (“Berkshire”). Terms of the transaction were not disclosed.

Harbinger is a leading designer, manufacturer and marketer of authentic, performance–oriented fitness products. Harbinger offers an extensive line of gloves for men and women, as well as belts, wraps, straps, jump ropes, resistance cables, mats and related training products. Harbinger sells products under two highly recognized brand names: the iconic “Harbinger” brand and the functional training-focused “HumanX by Harbinger” brand. Harbinger’s products are sold worldwide through multiple sales channels, including sporting goods and mass merchant retailers, fitness centers and gyms, and ecommerce websites. Harbinger was founded in 1988 and is headquartered in Fairfield, California.

Implus is a leading global accessories platform providing merchandising and category management solutions to retailers worldwide. Implus offers its retail partners a comprehensive selection of high-margin and differentiated footwear, fitness and recreational accessories that are marketed under an extensive portfolio of proprietary brands, such as Sof Sole, Airplus, Perfect, TriggerPoint, Balega and Yaktrax. Implus maintains the number one market share position in many of the product categories it serves, including insoles, shoe care, shoe laces, and traction devices, and has an increasing presence in the rapidly growing fitness and wellness and outdoor recreation segments. Today, the Company’s products are sold across multiple sales channels through more than 75,000 storefronts in over 70 countries at leading retailers such as Walmart, Dick’s Sporting Goods, Finish Line, Foot Locker and The Sports Authority. Implus is headquartered in Durham, North Carolina.

Berkshire has invested in over 100 middle market companies since 1986 through eight private equity funds with aggregate capital commitments of $11 billion. Berkshire has developed specific industry experience in several areas including consumer products and retail, business services, industrial manufacturing, transportation and communications. Berkshire has a strong history of partnering with management teams to grow the companies in which it invests with the goal of consistently achieving superior investment returns. The firm is currently investing from Berkshire Fund VIII, a $4.5 billion fund raised in 2011. Berkshire seeks to invest $50 million to $500 million of equity capital in each portfolio company. Berkshire is based in Boston, Massachusetts.

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