Apax backs skiwear maker in $100m deal

The US arm of Apax Partners has acquired Spyder Active Sports, the Colorado-based outerware maker run by a former downhill ski champion.

Funds advised by global private equity investor Apax Partners have funded the acquision of Spyder Active Sports, an alpine outwear maker based in Boulder, Colorado. According to a press release, the transaction was valued at approximately $100 million.  

The deal was led by David Landau, a partner in Apax’s New York office.

Spyder markets skiwear and outerwear in 50 countries outside the US. The business is run by founder and CEO David Jacobs, a former Canadian downhill ski champion.

The investment in Spyder adds to Apax’s recent endeavours in the US retail and consumer sector. Following last year’s $375 million investment in Phillips-Van Heusen Corporation’s acquisition of Calvin Klein, the firm this year completed the second quarter IPO of Life Time Fitness, a health club business, and sold single-price point dollar store operator Greenbacks to Dollar Tree Stores.

Apax, which has $12 billion under management, is currently investing a $1.1 billion US fund raised in 2000. The firm recently launched a fundraising campaign for a new European private equity fund which aims to pull in as much as €4.5 billion in limited partner commitments. Once that fund is raised, according to a recent report from Bloomberg, the firm intends to return to the market to organise a new North American vehicle as well.