Meriwether Group, a business acceleration firm and trusted consumer brand advisor, in partnership with Cascadia Capital, a diversified, boutique investment bank, today announced that it acted as a strategic consultant to KLIM in its acquisition by Polaris Industries (NYSE: PII). According to the terms of the deal structured by Meriwether and Cascadia, which unites two leaders in the outdoor apparel and gear industries, the operations and marketing of KLIM’s technical riding gear will remain at the company’s headquarters in Rigby, Idaho, preserving over 50 jobs in the region, and the core ideals and culture upon which the brand was built. This deal follows close on the heels of the sale of Portland-based Bike Gallery to Trek Bicycle Superstore, a transaction in which Meriwether structured a deal that would preserve an iconic Pacific Northwest brand while opening up great opportunities for growth and expansion.
“From humble beginnings, we have consistently executed on our vision to develop riding gear and outdoor products that would meet the needs of the world’s adventure snowmobile and motorcycle riders, and set the industry standard for quality,” said Justin Summers, KLIM founder, president and CEO. “David Howitt and his team at Meriwether immediately understood my passion for the category and, together with Cascadia Capital, successfully represented the long-term interests of our brand and our customers in negotiating a deal with Polaris. This transaction will not only carry on my personal legacy, but ensure the ongoing legacy of KLIM in the community of Southeast Idaho.”
KLIM was founded in 1998 and the company has grown to define the small town of Rigby where it remains headquartered today. With a focus on innovation and exceptional quality, KLIM builds gear for the most demanding power sports riders utilizing the world’s most sophisticated technologies in waterproof, breathable, durable and comfortable materials that improve its customers riding experience without compromise. Summers chose the Meriwether Group to provide strategic counsel on this transaction based on their long track record of helping to ensure that a brand’s core values and identity are retained even as the company grows. He will remain with the company along with his current management team and employees.