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B oa Technology, the Denver- based company that invented an alternative to shoelaces, is being sold for $454 million to Compass Diversified, a publicly trad- ed company that operates as a private equity group. Boa becomes the tenth company in the Compass portfolio, which includes Liberty Safe, a manu- facturer of gun safes, and Sterno, a brand that specializes in heating fuels. Earlier this year Compass also acquired Marucci Sports, a maker of baseball and softball equipment, for $200 million. Compass, which focuses on middle-market deals, is purchasing Boa from its current majority owner Glenbrook Consumer Partners and other minority shareholders. According to reports, management and affiliates of the sellers plan to reinvest some of the proceeds into the company and will hold a near-20 percent stake.  Compass initially approached Boa in mid-February but the sales process was put on hold with the shut down of the global economy, said Elias Sabo, Compass CEO.  Boa last year unveiled its Perfor- mance Fit Lab at its headquarters in Denver where it is carrying out scien- tific studies to improve athlete perfor- mance.  “It really fits every metric that we look for,” Sabo said. “They own all the intellectual property in the space and there are no competitors.”  Boa’s CEO Shawn Neville, who took over in April 2017, will continue to lead the company. The deal is expect- ed to close by early November. m Ingredients BOA Technology Acquired for $450M Story continued from page 12 Inside Outdoor | FALL 2020 33 of the products’ carbon footprint and works with the leading carbon finance projects that produce verifiable, addi- tional and permanent emission reduc- tions that meet International Carbon Reduction and Offset Alliance (ICROA) approved standards. Furthermore, car- bon-zero TENCEL fibers are produced using renewable energy. TENCEL said it will take actions to offset emissions until carbon emission levels can be completely eradicated. “We as a company and brand have taken steps to reduce our footprint, but not all emissions are avoidable. This motivates us to act on a global level, and we found possibilities to help and support the avoidance of CO2 emissions around the world,” said Florian Heubrandner, vice presi- dent of Global Business Management Textiles at Lenzing. “The concept of carbon compensation through offset- ting helps to contribute to carbon reduction through verified climate finance projects,” In late 2019, Lenzing pledged to reduce specific carbon emissions by 50 percent by 2030 and become net carbon-zero by 2050. Quickfeat Vietnam produces knits, wovens, outerwear and activewear. QUICKFEAT VIETNAM Our Services - Fabric Sourcing - Trim Sourcing - Garment Development - Factory Sourcing - Production - Quality Control - Packing & Logistics 541 350 1615 Marketing O ice Bend, Oregon USA info@quickfeat.com | www.quickfeat.com C M Y CM MY CY CMY K QF-InsideOutdoors_Vietnam_HalfPgVert(10-22)_ƒ.pdf 1 10/22/18 8:10 AM