Berkshire Partners LLC, a Boston-based private equity firm, today
announced that they have made an investment in Masai Group
International to help accelerate and support the next phase of the
Company's growth. Masai Group International distributes shoes under
the Masai Barefoot Technology ("MBT") brand. MBT is the leading global
provider of physiological footwear. Current shareholders Klaus
Heidegger, a former world-class skier and past owner of Kiehl's, and
Hermann Oberschneider, a successful Austrian sports and tourism
entrepreneur, have retained a majority stake in MBT.
Led by CEO Norbert Kraihamer and headquartered in Romanshorn,
Switzerland, MBT designs athletic, casual and professional shoes and
sandals that provide fitness and orthopedic benefits. MBT
physiological footwear positively impacts the entire body and offers
tangible benefits to health-conscious customers who are looking for
improved posture and increased muscle activity during normal
day-to-day wear as well as customers who suffer from back pain and
muscle and joint problems.
Initially developed for orthopedic applications by Swiss engineer
Karl Muller, MBT's shape and structure, with the elliptical section or
"Masai Sensor" underneath the heel, creates a natural instability
underfoot that stimulates and exercises the body's supporting muscle
system.
Benefits of wearing MBTs include reduced impact on joints, better
posture, increased caloric burn and muscle toning due to increased
buttock, thigh and abdominal muscle activity, as well as a significant
decrease of stress and pressure on the hip and knee joints.
The product is available in over 20 countries including Germany,
the U.K. and the United States.
"In an increasingly health conscious world, MBT's differentiated
product offers unique health and fitness benefits to an extremely
broad audience," said Michael Ascione, Managing Director for Berkshire
Partners. "We believe there is tremendous opportunity to increase
brand awareness and further expand the product line worldwide. We are
thrilled to be partners with Mr. Heidegger, Mr. Oberschneider and Mr.
Kraihamer in growing this exciting brand."
"MBT has tremendous potential and is already the leader in the new
category of physiological footwear. Berkshire Partners' experience,
knowledge and resources in the consumer product and retail sectors
will contribute to the achievement of our long term growth
strategies," said Norbert Kraihamer. "We are excited and look forward
to working closely with Berkshire Partners." Prior to joining MBT,
Kraihamer was a board member and Marketing and Sales Director for Red
Bull. During his 11 year tenure there, Kraihamer led the international
roll-out of Red Bull from two to 126 countries worldwide.
William Blair & Company acted as the Company's financial advisor
in the transaction. Weil, Gotshal & Manges LLP was legal counsel to
Berkshire Partners while Baker & McKenzie provided legal counsel to
the Company.
About Masai Group International
Masai Group International is the leading global provider of
physiological footwear: footwear that has a positive effect on the
entire body. Masai Group International markets and distributes shoes
to over 20 countries under the Masai Barefoot Technology ("MBT")
brand. Since the Company's founding in 1998, MBT has sold more than
4.5 million pairs worldwide. MBT is based in Romanshorn, Switzerland.
For additional information, visit www.swissmasai.com.
About Berkshire Partners
Berkshire Partners has invested in mid-sized private companies for
more than 20 years through seven investment funds with aggregate
capital commitments of approximately $6.5 billion. Berkshire seeks
companies with acquisition values between $200 million and $2.0
billion and in a given transaction makes equity investments of
approximately $50 million to $500 million. Berkshire has developed
specific industry experience in several areas, including consumer
products, retailing, business services, transportation, energy,
manufacturing and communications. Berkshire's consumer and retail
investments include Aritzia, Bare Escentuals, Carter's, Citizens of
Humanity, Party City and Waterworks. The firm's transactions have
included acquisitions, growth equity investments, and turnarounds in
both the U.S. and abroad. Over the past two decades, Berkshire has
been an investor in 90 operating companies with more than $19 billion
of acquisition value and combined revenues in excess of $21 billion.
For additional information, visit www.berkshirepartners.com.