Pearl Izumi USA Inc., formerly a subsidiary of Shimano American Corp., was purchased by United Sports Brands based in Fountain Valley, California.
Headquartered in Louisville, Pearl Izumi manufactures cycling apparel and accessories.
The company established its global headquarters in 2013 at 101 S. Taylor Ave. at the Colorado Technology Center.
Originally founded in Japan in 1950, Pearl Izumi had about 95 employees at its Boulder County location in 2018, according to a company blog post at the time.
Fitness company Nautilus Inc. (NYSE: NLS) sold its Pearl Izumi apparel and footwear segment to Shimano American Corp., a division of bicycle and fishing equipment maker Shimano Inc., in 2008 for approximately $69.5 million.
“This is an exciting time for Pearl Izumi,” Pearl Izumi CEO Geoff Shaffer said in a statement. “We have tremendous momentum and a fantastic team dedicated to continuing to take the brand to new heights. Shimano has provided significant support and guidance throughout his ownership and while we will miss being part of Team Shimano, we also know there is great future potential for the brand and look forward to continuing our business with USB to expand.”
The terms of the sale to USB were not disclosed.
Brands in the USB portfolio include mouthguard manufacturer Shock Doctors and protective orthosis and padding manufacturer McDavid.
USB itself is part of the Bregal Partners fund owned by Bregal Investments Inc., a private equity fund that owns brands such as Ruby Slipper Restaurant Group, Blue Harvest Fisheries and Total Vision Care.
“Pearl Izumi is an iconic, authentic and very popular brand that aligns strongly with our current brand portfolio at USB. Their culture of driving innovation and excellence in product development – always with a ‘consumer first’ mentality – aligns with our strategy at United Sports Brands,” USB CEO Michael Magerman said in a statement. “We intend to continue this product innovation and leadership under our leadership. The addition of Pearl Izumi along with our running apparel and accessories company Nathan makes us a formidable player in the outdoor space. We see great opportunities for further organic growth and expansion in this market segment.”
Louisville Pearl Izumi headquarters was included in the deal, according to Bicycle Retailer and Industry News.
The sale of the 55,000-square-foot building built for Pearl Izumi in 2013 has yet to be recorded, Boulder County property records show.
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