Implus acquired the assets of MCN Solutions CC, based in Cape Town, South Africa. MCN previously operated as a distributor of Implus and other branded sporting goods products in the region.
MCN’s key stakeholders, Marc Smith and Rebecca Laird, will remain in management roles with the newly formed Implus Africa. With the acquisition, Implus gains a vertical operation on the African continent, a region it had historically serviced through a variety of distributors across its brands.
“Africa represents an exciting region of growth for Implus,” said Seth Richards, CEO, Implus. “When combining the localized knowledge and expertise of Marc and Rebecca with the portfolio of products and sourcing expertise of Implus, this is a win-win situation in a growing, untapped retail landscape.”
“We are thrilled to join Implus in their Africa expansion,” said Marc Smith. “This move will represent significant market growth for Implus’ products, and we are looking forward to working with the team to facilitate this growth.”
Implus Africa will operate as a subsidiary of Implus who is majority owned by Berkshire Partners, a Boston-based investment firm. MCN represents the 4th acquisition for Implus since Berkshire’s investment in Implus in April 2015.
