Rab, Despite Rumours "No Change In Ownership Is Planned"
Equip Outdoor Technologies UK Ltd. (Equip), home of technical outdoor apparel and equipment brands Rab and Lowe Alpine, has responded to speculation in the media relating to Rab. Matt Gowar, CEO and Owner of Equip Outdoor Technologies (UK) Ltd, has confirmed that no change in ownership is planned now, or in the near future for either brand.
This comes in the light on a story in the Financial Times which stated "Equip Outdoor Technologies, which also owns sister label Lowe Alpine, has in recent months enlisted bankers at Raymond James to weigh opportunities for Rab. Prospective suitors could be expected to value the business — founded in 1981 — at more than £150mn, according to one of the people. The process was in its early stages, the people said, cautioning that there was no certainty a deal would be reached."
“There is no sale planned in the near future. I’m proud of Rab and what we have achieved with the brand. My announcement about my role as CEO has no impact on Equip’s ownership of Rab. We are a proudly independent company, and keeping Rab within the business is important to me and Equip. The media speculation is unfounded. Rab has grown due to the passion that my teams and I have for the brand, and for continuing to develop innovative and technical products for our customers. This is born out in everything we do, as evidenced in recently winning another two prestigious ISPO Awards for the Rab Mythic Ultra 120 sleeping bag and Ultrasphere 4.5 sleep mat.” Matt Gowar, Owner and CEO Equip Outdoor Technologies (UK) Ltd
In November Equip announced that Matt Gowar has decided to bring new experience and leadership to strengthen the Board by appointing a new CEO. He plans to step down but retain a place on the Executive Board. This was on the back of Equip’s significant growth which has been most evident in the last few years achieving £120m turnover in FY23. Equip has hired Raymond James as Corporate Finance Advisors to support the business with their strategic decision making. This is common practice and consistent with Equip’s strategy and aspirations.
The global business now operates through 26 manufacturing partners across Asia as well as retaining its heritage and expertise in a UK manufacturing site plus has sales offices in eight countries across North America and Europe.
"The ownership and growth of Rab has been instrumental in the growth of Equip, and the business is proud of retaining its independence. Equip is a company run by passionate and experienced mountain people, something which is woven into every element of its brands from design, development, marketing, selling, and support. It is something that sets the business apart from many others in the industry."
