Compass Diversified, an owner of middle market businesses, has acquired BOA Technology, creators of the BOA Fit System, for a purchase price of $454 million.
BOA was founded in 2001 with a performance fit system that transformed how snowboarders “dialed in” their boots and offered a superior alternative to the traditional lace system. Nearly two decades later, the BOA Fit System has become a performance fit solution integrated into market-leading premium brand partner products across an array of segments, including running.
“BOA’s disruptive, innovative and high-quality products are utilized by millions of consumers around the world and we are pleased to partner with a true industry pioneer as the company builds upon its mission to advance human performance,” says Elias Sabo, CEO of Compass Diversified. “BOA has a proven, relentless focus on excellence, a unique culture and a passion for innovation, making the company an ideal addition to our diverse holdings.”
“Born out of a simple, yet innovative idea to dramatically improve the fit and performance of snowboard lacing systems, BOA has continued to push the boundaries of what is possible, developing new ways to improve performance across a range of products with the BOA Fit System,” adds Shawn Neville, CEO of BOA. “This … is a testament to the incredible dedication of our global team and our great brand partners around the world and we look forward to working closely with the talented team at CODI to build on our momentum.”
BOA will continue to be led by Neville and its current leadership team and will maintain its headquarters in Denver, CO.
Designed to address the deficiencies found in traditional closures, the BOA rotational dial-based fit system is an alternative to traditional laces, buckles or straps, delivering a fast, effortless, precision fit that improves performance for elite athletes and enthusiasts. With more than 400 highly collaborative global brand partners integrating BOA Fit Systems in performance footwear, headwear and medical bracing products, and a large and diverse intellectual property portfolio with nearly 160 patents issued globally, BOA has established itself as a market leader.
Headquartered in Denver, with operations in Austria, China, Japan and South Korea, BOA has more than 230 employees globally. Its new Performance Fit Lab in Denver is pioneering new ways to enhance performance through independent scientific studies, hands-on research and biomechanical testing to quantitatively define and measure the impact of the BOA Fit System on athletic performance.