Cascadia Capital, an investment bank serving middle market clients globally, today announced it acted as the exclusive financial advisor to Superfeet, the global insole industry leader and innovator, in partnership with private equity firm, Westward Partners. Effective immediately, Seattle-based Westward assumes majority ownership in this fast-growing industry stalwart. This acquisition will set Superfeet up for accelerated growth and bring the brand closer to its mission of being the life-changing shape under every foot.
For more than 40 years, 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. Today, through the latest advancements in 3D-printing technology, Superfeet is breaking down barriers associated with custom products by providing easier access to state-of-the-art personalized fit. Superfeet gives 1% of sales and countless volunteer hours to help others shape a strong foundation for a healthy future.
Westward Partners and Superfeet are a natural fit. The private equity firm exclusively invests in Northwest companies with strong performance records, clear vision and proven leadership teams. As long-time fans of Superfeet products they embrace the industry leading biomechanics, product, innovation, technology, and people first mindset which is core to the Superfeet DNA. Westward and the Superfeet teams will leverage each other’s strengths to expand the availability of the Superfeet shape and personalization technology to more people via current and new distribution channels.
“Since 1977 our mission at Superfeet has been to help as many people as possible by making life-changing products and building a culture where people come first. With the Westward acquisition our people win, and the brand wins,” states John Rauvola, CEO of Superfeet. “Cascadia was the perfect advisor to help us find the partner that will continue and help accelerate that mission.”
“Superfeet is one of the most iconic stories in the outdoor sector and in the Pacific Northwest,” said Erik Einwalter, Managing Director at Cascadia Capital. “They have a unique business that sits at the intersection of performance and medical with a cult following that rivals best-in-class brands.”
For more information about this transaction, please contact the Cascadia Capital deal team:
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