Summit Sports, based in Bloomfield, Mich., was purchased by Digital Fuel Capital, a private equity group focused on e-commerce and digital marketing investments. The Forbes M+A Group senior advisors, Jim Johnson and Bob Forbes, served as the exclusive financial counsel to Summit Sports for this transaction.
In the sporting goods industry since 1990, Summit Sports owns and operates a number of ecommerce websites including Skis.com, Snowboards.com, InlineSkates.com, WaterOutfitters.com, CampGear.com and SummitOnline.com. Initially started as a nine-location Michigan retailer, Summit Sports has expanded to become a predominantly online business.
The Forbes M+A Group initially was engaged a few years earlier by Summit Sports to complete a strategic planning exercise, providing valuation and marketability guidance.
The buyer, Digital Fuel Capital, based in Newton, Mass., is an investment firm focused on investing in Internet retail and digital marketing technology and services businesses.
Digital Fuel Capital has invested in a number of e-commerce platform companies that are consolidating their respective industries and Summit Sports reportedly will be pursuing acquisitions of other leaders in action and outdoor sports.
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