PALO ALTO, Calif., July 16, 2013 /PRNewswire/ -- Altamont Capital Partners (Altamont) today announced that it has entered into an agreement to acquire DAKINE, an action sports and outdoor accessories and apparel company, from Billabong International Limited (Billabong).
DAKINE was founded in 1979 in Hawaii by Rob Kaplan and is based in Hood River, Oregon. The brand has developed a strong reputation as the action sports industry's leading provider of specialized backpacks, gloves, bags, and technical accessories. An early pioneer in the wind surfing industry, DAKINE has expanded to serve the snowboard, ski, surf, skate, bike, and kite communities.
Commenting on the deal, Steve Brownlie, Principal at Altamont said: "DAKINE has a high quality brand, strong track record, and long history in the markets it serves – all of the qualities we look for in a consumer business. There is a talented team at the company and we are excited to work with them to build on DAKINE's successful history and drive future growth opportunities."
The DAKINE acquisition is occurring concurrently with a recapitalization of Billabong led by Altamont and GSO Capital Partners. Additional details regarding that transaction can be found in the Billabong press release "Refinancing of Syndicated Debt Facilities."
About Altamont Capital Partners
Altamont Capital Partners is a private investment firm based in the San Francisco Bay Area. Altamont is focused on investing in businesses where it can partner with leading management teams to help the companies reach their full potential. The firm's principals have significant experience building business success stories across a range of industries.
Backed by a pro team roster that includes some of the world's top action sports athletes, DAKINE has been an industry leader in action sports accessories since 1979. Founded in Hawaii and located at the base of Mt. Hood in Hood River, Oregon, DAKINE offers a complete range of innovative and quality products, including outerwear, sport-specific and lifestyle-driven backpacks, bags, travel gear and accessories. DAKINE products are available for purchase at specialty sports retailers worldwide. For more information visit, www.dakine.com.