COSTA MESA, Calif., June 14, 2006 (PRIMEZONE) -- Implus Footcare LLC, along with its financial sponsor FdG Associates LLC, acquired the assets of Yaktrax Inc. Transaction terms were not disclosed.
RSM EquiCo Capital Markets initiated the transaction, led the negotiations and acted as exclusive financial advisor to Yaktrax.
"The acquisition of Yaktrax allows Implus, already an established leader in the footwear accessory market, to further expand its product line of foot and shoe care products," said John Dorey, senior managing director of RSM EquiCo Capital Markets.
About RSM EquiCo Capital Markets
RSM EquiCo Capital Markets LLC (www.rsmequico.com) is a global provider of investment banking services to private companies with annual revenues of up to $500 million. The firm brings together companies, capital and creativity on a national and international scale to help clients achieve their personal and strategic objectives. RSM EquiCo Capital Markets LLC is licensed by the SEC and all state securities authorities, and is a member of the NASD and SIPC.
RSM EquiCo Capital Markets is a subsidiary of RSM EquiCo Inc., a financial services firm affiliated with RSM McGladrey Inc., one of the nation's largest providers of business and tax consulting, wealth management, retirement resources and payroll services to midsized companies.
RSM EquiCo's international headquarters are located in Costa Mesa, Calif. It also has offices in Chicago, Boston, New York, London and Coral Springs, Fla.
About Yaktrax Inc.
Yaktrax Inc. designs, develops and markets a patented ice traction device for various types of footwear. Founded in 1998, Yaktrax was an early innovator in the traction augmentation device market and developed a patented design that enabled the company to introduce the first non-spike-based commercial traction device in the United States.
Named after the sure-footed Tibetan Yak, Yaktrax stretches over every kind of shoe, from winter boots to jogging shoes. Yaktrax products make it easy to navigate on snow and ice by reducing slippage. Yaktrax products offer many benefits, such as being quickly attached to and removed from footwear; being readily adaptable for use with different size and types of footwear; being fully compactable for ease in carrying and storage when not in use; and being durable enough to accommodate aggressive use, such as in extended walking, hiking and running activities. The company's operations support two product lines - the Yaktrax Walker and the Yaktrax Pro.
About Implus Footcare LLC
Implus Footcare LLC designs, markets and distributes insoles, foot care devices, shoe care products, shoe laces and socks under three brand names (Sof Sole, AirPlus and Sof Comfort) and several private-label brands. Based near Raleigh, N.C., Implus holds the leading market share in the specialty market (primarily athletic footwear retailers and sporting goods stores) and the No. 2 position in the food, drug and mass channel. Implus has successfully grown its business by focusing on its "one-stop shop, ankle-down" strategy, continually leveraging its strong market position and customer relationships into adjacent accessory categories. A cornerstone of this strategy is to focus on the acquisition of other products that fit within its "ankle-down" strategy and can be distributed through its category-leading distribution system.
About FdG Associates LLC
FdG Associates LLC is a private investment firm providing equity capital to North American-based middle-market growth companies with sound businesses and unrealized potential. By building a partnership with management and offering creative problem solving and strategic, long-term planning focused around key corporate initiatives, FdG empowers companies to achieve their full potential. FdG will typically commit from $15 million to $50 million in equity to sponsor management buyouts, recapitalizations and growth-oriented capital investments in private and public companies.
RSM EquiCo is a tradename for RSM EquiCo, Inc. and its subsidiaries, which include: RSM EquiCo Capital Markets, LLC (broker-dealer licensed by the SEC and member NASD, SIPC), RSM EquiCo Canada, Inc. (limited market dealer registered with the Ontario Securities Commission) and EquiCo Europe Limited (authorised and regulated by the Financial Services Authority). RSM EquiCo, Inc. and its subsidiaries are wholly owned subsidiaries of H&R Block.