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.