Private equity firm Westward Partners has invested in insole company Superfeet. Effective immediately, Seattle-based Westward Partners assumes majority ownership in the company.
“When we were introduced to Superfeet we immediately connected with their vision and values,” said Andy Baldridge, Westward founder and partner. “We recognize and are excited about the incredible growth opportunity for the Company which is based upon a loyal following of existing customers and recent traction among new customers as they are introduced to the brand – all supported by very strong operational and technical expertise,”
“Superfeet has incredible product, a world class team, a values-driven culture, and a solid vision for the future,” explains Erik Tolzmann, founder and partner at Westward Partners. ‘Together we plan to grow the brand, product portfolio and geographic reach, ultimately getting Superfeet to more of the people who need them.”
“Since 1977 our mission at Superfeet has been to help as many people as possible by making life-changing products and building a culture where people come first. With the Westward acquisition our people win, and the brand wins,” states John Rauvola, CEO of Superfeet. “The Superfeet Employee Stock Ownership Program was established to ensure our employee-owners would have a secure future based on the success Superfeet achieved. Today the goal of the ESOP is realized. We are invigorated by the new partnership with Westward and how the investment benefits our team and our ability to serve more people and change more lives for the better.”