Montane has built its brand reputation on lighweight gear for fast-paced mountain activities
A Scottish investment firm has taken a controlling stake in outdoors company Montane.
Managing director Jake Doxat will step down from his position but will remain on the board after Inverleith LLP became the majority shareholder.
The outdoors brand specialises in clothing and gear for fast-paced mountain users and sponsors events such as the Spine Race, the Tor des Géants and the Lakeland 100.
The Ashington, Northumberland-based brand said the Inverleith investment will enable it to expand its market both in the UK and overseas and increase its product development.
Mr Doxat will withdraw from day-to-day management and will become the brand’s ambassador, while retaining a minority shareholding.
He said: “I am delighted to have secured Inverleith LLP as the majority investor into Montane.
“After over two decades at the helm, it is time to hand over the reins of Montane to a passionate new owner who recognises the strength of Montane’s differentiated position, who shares the company’s values and beliefs and who has the consumer and commercial expertise to help steer the company to its next level of growth.
“I am confident that Montane will continue its positive momentum under its new and complementary majority shareholder. I look forward to continuing to contribute to Montane’s growth as a board director.”
Jake Doxat will step down as managing director
Other Inverleith investments include majority stakes in The Scotch Malt Whisky Society, a premium single cask spirits club; Good Hemp, the UK’s leading producer of hemp-based food and drink products and ingredients; Planet Organic, a London-based health and wellness supermarket and food-to-go chain, and Montezuma’s, a premium artisan chocolate brand.
Inverleith’s partners are ex-chairman and chief executive of Noble Group Ben Thomson and ex-chief executive of the Glenmorangie Company and Partner L Capital Paul Skipworth.
Inverleith managing partner Paul Skipworth, said: “I am delighted to see Montane join the Inverleith family of consumer brands.
“Consumers in this area are seeking brands with heritage, authenticity and credibility; brands that are both highly functional, yet also attractively designed. Montane fits these requirements as a company and brand that has been built steadily over the last 25 years and has become recognised and admired within this environment.
“We look forward to enabling an even wider audience to engage with Montane in the UK and internationally, helping them to fuel their passion for outdoor sports with a ‘Further. Faster.’ mindset.”
Mr Skipworth, who has taken part in more than 10 ultra-endurance runs, was described as a fan of the Montane brand.
