Superfeet

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has been acquired by Westward Partners Logo

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.

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