Pearl Izumi USA bought by PE-owned sporting-goods firm

LOUISVILLE — Pearl Izumi USA Inc., formerly a subsidiary of the Shimano American Corp., has been purchased by Fountain Valley, California-based United Sports Brands.

Headquartered in Louisville, Pearl Izumi manufactures cycling apparel and accessories.

The company built its world headquarters at 101 S. Taylor Ave. in the Colorado Technology Center in 2013.

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Pearl Izumi, initially launched in Japan in 1950, had about 95 employees at the Boulder County site as of 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 cycling and fishing equipment provider Shimano Inc., in 2008 for about $69.5 million.

“This is an exciting time for Pearl Izumi,” Pearl Izumi CEO Geoff Shaffer said in a prepared statement. “We  have tremendous momentum and an amazing team that’s dedicated to continuing to grow the brand to new heights. Shimano has provided significant support and guidance throughout its  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 to grow our business with USB.”

Terms of the sale to USB were not disclosed. 

USB portfolio brands include mouthguard manufacturer Shock Doctors and protective brace and padding maker McDavid.

USB itself is part of Bregal Investments Inc.’s Bregal Partners fund, 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 much loved brand that is strongly aligned with our current portfolio of brands at USB. Their culture of driving innovation and best-in-class product development — always with a ‘consumer-first’ mindset — is consistent with our strategy at United Sports Brands,” USB CEO Michael Magerman said in a statement. “We intend to continue that product innovation and leadership under our stewardship. The addition of Pearl Izumi, along with our running apparel and accessory company, Nathan, makes us a formidable player in the outdoor space. We see great opportunity for continued organic growth and expansion in this segment of the market.”

According to Bicycle Retailer and Industry News, the Louisville Pearl Izumi headquarters was included in the deal. 

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.