- Superfeet is a leading manufacturer of premium insoles for consumers seeking everyday comfort or peak athletic performance.
- The company sells branded insoles as replacements for OEM insoles with technology enabling manufacturing customization.
- Pacific Northwest-based Superfeet has been creating innovative insoles featuring the Superfeet® shape, helping millions of people worldwide experience unparalleled comfort, pain relief and performance.
- The Company operates a unique business that sits at the intersection of performance products and medical devices with a cult-like following that rivals best-in-class brands.
- In 2016, Superfeet transitioned to 100% ESOP ownership, providing the executive team a platform to pursue different avenues of growth for the business.
- Over time as the business grew and employee tenure increased, annual ESOP distribution requirements became a significant use of cash for the company.
- Cascadia was engaged to run a marketing process to find the next owner of the business that would continue its current trajectory with a different capitalization.
- The Superfeet management team desired an acquirer that would share the Company’s core values without changes in the near-term to any of Superfeet’s business functions.
Our Specialized Approach
- Cascadia ran a tailored process to both strategic and private equity acquirers, with interest driven by the unique nature of the Superfeet brand, its defensible intellectual property and above-average margin profile
- The process yielded multiple bids and the Company was ultimately acquired by Westward Partners at an attractive double-digit EBITDA multiple