Evolv Sports & Designs LLC said Bruckmann, Rosser, Sherrill & Co. in New York acquired a majority stake in the Buena Park-based manufacturer of climbing footwear.
The details of the transaction were not disclosed. The private equity firm has $1.4 billion of capital under management and primarily invests in companies with market values between $50 million and $250 million.
Brian Chung, Evolv’s co-founder and president, will continue to run day-to-day operations and remain a “significant shareholder.” Chris Sharma, a climber who is collaborating with Evolv’s on footwear design, will become an equity owner.
“We have been very impressed with the accomplishments of Brian Chung, Chris Sharma and the rest of the Evolv team in building an enthusiast and authentic brand,” said Stephen Sherrill, a cofounder and managing director of Bruckman “We look forward to supporting the company's growth strategy of expanding into related outdoor product categories while staying focused on its core offerings of performance climbing shoes.”