Sea to Summit Pty Ltd., a global adventure equipment brand headquartered in Perth, Western Australia, announced that Australia-based investment firm, Five V Capital, has signed an agreement to become the majority shareholder in the company.
Sea to Summit is a leader in adventure equipment including sleeping bags, dry bags, sleeping mats, tents, camp kitchen and outdoor accessories. The company’s range of products appeals to a global and diverse consumer audience from amateur campers to outdoor enthusiasts, NASA, defense forces, emergency services and extreme athletes.
In Australia, Sea to Summit distributes a range of global adventure brands via its Sea to Summit Brands business, including BioLite, Black Diamond, CamelBak, Helinox and Jetboil. The suite of outdoor, travel and water sports brands align with its philosophy ‘to equip and inspire’ consumers.
Founded in 1991 by Roland Tyson and co-led with his partner, Penny Sanderson, who joined the business in the mid-‘90s, Sea to Summit has grown into a global brand and distributes products in more than 73 countries, with offices in Australia, China, Germany and the United States.
Five V Capital, a certified B Corporation, seeks to invest alongside founders and management teams to support businesses to grow and create sustainable, market leading positions in their core markets. Through its partnership with Sea to Summit, Five V Capital recognizes an opportunity to accelerate the company’s global growth, pursuing opportunities across the breadth of the Sea to Summit’s business, including in key areas that can benefit from Five V’s omnichannel consumer, e-commerce, supply chain and sustainability expertise.
Tyson will continue to be a shareholder alongside Five V and will continue to advise the company on product design and marketing as a Director of the Company. McCoy will step down as Executive Chair and will become a Non-Executive Director of the company.
The transaction is expected to complete in June 2022.
