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Report - October 26, 2020

INDUSTRY UPDATE

Harris Williams Consumer Update

What We’ve Been Doing

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Harris Williams Consumer team has advised BOA Technology Inc. on its sale to Compass Diversified for a purchase price of $454 million.

BOA is the creator of the award-winning BOA® Fit System, delivering superior fit and performance in the outdoor, athletic, workwear, and medical bracing markets worldwide. The transaction was led by Ryan Budlong, Corey Benjamin, Christopher Neils, and Jun Ye.

The transaction closed on October 16, 2020.

Outdoor and Active Lifestyle M&A Market: Three Buyer Priorities

In this article, Ryan Budlong and Corey Benjamin, both managing directors, and Chris Neils, vice president, all from the Harris Williams Consumer Group, share their thoughts on why the outdoor and active lifestyle sector is primed for M&A in the months to come, and what buyers will be looking for as they pursue new opportunities.

What We’ve Been Reading

America Outdoors: Consumer Are Flocking to These 5 Activities

As a result of COVID-19, consumers are looking for outdoor activities to keep them occupied and healthy while maintaining a social distance. In this article, see the five outdoor activities that consumers have flocked to that have spiked a sales increase in 2020 compared to this time last year. See full article here.

Consumer Retail Focus Continues to Shift Significantly

During the typical summer months, consumers are usually focused on travel and ticketed events. Spending and engagement across the retail sector continues to shift toward family-oriented outdoor activities instead as millions of Americans remain at home during the COVID-19 pandemic. See full article here.

What We’ve Been Seeing

As we reflect on the leisure and outdoor space, we have highlighted below notable deals done that reflect the changes happening in the sector as well as the attractive valuations for premier businesses in their respective segments of the market:

General Atlantic Invests in Gymshark

General Atlantic has announced the acquisition of 21% equity stake in Solihull, West Midlands-based Gymshark Limited, valuing the brand at over USD 1.3bn. Gymshark is a fitness apparel & accessories brand, manufacturer, and online retailer with customers in over 180 countries.

VanMoof Receives Investment from Norwest Venture Partners, Felix Capital, and Balderton Capital

E-bike startup VanMoof has announced a raise of a $40m investment. The funding will be aimed to boost its share of the e-bike market in North America, Europe, and Japan. This has been driven by the switch of commuters away from public transportation during the COVID-19 pandemic. 

Public Markets Overview

Key Trading Statistics1

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Public Company Sector Performance (12-month % Change in Stock Price)1

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Consumer and Retail Industry Stock Performance1

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Recent Equity Offerings1

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M&A Overview

Announced Consumer and Retail M&A1

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Recent Equity Offerings1

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Recent Equity Offerings1

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Public Comparables1

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M&A Transactions

Recent North American Consumer M&A1

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1. Capital IQ 

Contacts

Harris-Williams Bio-Crop 0046 EdArkus 1

Ed Arkus

Group Head / Managing Director

Harris Williams is a global investment bank specializing in M&A and private capital advisory services. Clients worldwide rely on us to help unlock value in their business and turn ambitious goals into reality. We approach every engagement with boundless collaboration, pooling expertise and relationships across industries and geographies. For over 30 years, our clients have trusted us to think strategically, execute precisely, and deliver superior outcomes to help them grow.


Harris Williams LLC is a registered broker-dealer and member of FINRA and SIPC. Harris Williams & Co. Ltd is a private limited company incorporated under English law with its registered office at 13th floor, One Angel Court, London EC2R 7HJ, UK, registered with the Registrar of Companies for England and Wales (registration number 07078852). Harris Williams & Co. Ltd is authorised and regulated by the Financial Conduct Authority, number 5408952. Harris Williams Private Capital Advisory Ltd. is an Appointed Representative of Sturgeon Ventures, LLP, which is authorised and regulated by the Financial Conduct Authority number 452811. Harris Williams & Co. Corporate Finance Advisors GmbH is registered in the commercial register of the local court of Frankfurt am Main, Germany, under HRB 107540. The registered address is 16th Floor, Marienturm, Taunusanlage 9-10 60329, Frankfurt am Main, Germany (email address: hwgermany@harriswilliams.com). Geschäftsführer/Director: Paul Poggi, VAT No. DE321666994. Harris Williams is a trade name under which Harris Williams LLC, Harris Williams & Co. Ltd and Harris Williams & Co. Corporate Finance Advisors GmbH conduct business.