Fox Head acquired by Altamont Capital
today Dec 12, 2014
Altamont Capital Partners has acquired a majority stake in Fox Head. Fox Head, which specializes in motocross, mountain biking, BMX and wakeboarding thus joins Brixton and Dakin, which were bought in 2013 from Billabong, as part of the American investment firm’s portfolio.
Fox Head’s founding family has nonetheless retained a significant minority stake. Motocross racers Ricky Carmichael and Carey Hart - both sponsored by Fox Head - as well as Hybrid Apparel, an American textile sourcing company, are also included among its shareholders,
Fox Head CEO Nick Adcock (ex-DC Shoes) - who succeeded Pete Fox, a son of the founders of Fox Head, in February - is stepping down.
Pete Fox is taking over as chief creative officer and Scott Olivet, a partner at Altamont Capital, has been named interim CEO. CFO Bill Bussiere is leaving the company to take up the same position at Billabong Americas.
Back in October, FashionMag Premium reported that Fox Head, founded in 1974 by Geoff Fox, was for sale for 200 million dollars, with potential buyers including Altamont and Iconix Brands.
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