Sun Mountain Sports, a longtime leader in the golf bag, walking cart, and outerwear spaces has been sold to Solace Capital Partners.
Sun Mountain, headquartered in Missoula, Montana was established in 1981 by Rick Reimers.
“For 40 years, Sun Mountain has watched and listened to golfers and worked diligently to create products that make the sport a more enjoyable experience,” said Reimers. “I am proud of the patents we have earned, the innovations we have ushered in, and the lifelong friends I have made along the way. Solace brings a shared sense of values and deep appreciation for the brand, and I am confident that under Ed’s and the Sun Mountain team’s leadership, the company’s best days are ahead.”
Initial indications are that the Sun Mountain management team will stay in place. More than 200 people are employed by the company.
Terms of the transaction were not disclosed.
From today’s Press Release: “Solace Capital Partners is a Los Angeles-based private investment firm that provides flexible debt and equity solutions for established lower middle market businesses. Solace seeks to leverage its extensive expertise to provide financial stability, lead operational improvements, and drive performance growth in its portfolio companies while generating attractive risk-adjusted returns for its investors.”
Ed Kowachek, longtime Sun Mountain executive has been slated to take over as CEO.
“Our mission will always be to create original, world-class golf products that enhance our customers’ experience and performance on and off the course,” said Kowachek. “We are pleased to partner with Solace, which possesses substantial financial resources and operational expertise, to execute our mission on an even larger scale. I have been incredibly fortunate to work with and learn from Rick over the years and will strive to continue the legacy of a man who did so much to improve the sport of golf.”
Reimers will retain ownership of Sun Mountain Motor Sports, which produces electric single-rider golf carts under the Finn Scooters brand.
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