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CST: 18/09/2019 00:13:43   

Head Rush Technologies Announces Major Investment by Pike Street Capital

112 Days ago

Investment and Operational Support to Fuel Growth for Adventure Equipment Maker

BOULDER, Colo., May 28, 2019 (GLOBE NEWSWIRE) -- Head Rush Technologies (Head Rush), a leading maker of adventure and recreation equipment announced today a major investment by Pike Street Capital (Pike Street), a private equity firm based in Seattle. Head Rush is a Boulder-based maker of best-in-class equipment for the climbing and adventure industries.

“We’re excited to continue to build the company with the additional investment and operational support from Pike Street,” said Head Rush founder and CEO John McGowan. “Everything we do is designed to create the best possible end user experience while helping operators improve their businesses. We felt that Pike Street’s approach was aligned with this mission and are confident that the strategic partnership will benefit both our customers and employees. We’re excited about the opportunities that lie ahead of us.”

Pike Street will acquire a majority interest in Head Rush, with plans to invest significantly to enhance the organization’s commercial capacities to better support its distribution partners and reach its growing markets, as well as to leverage its technology to accelerate the product roadmap. Founders John McGowan and Steve Holmes will continue their involvement in the company as investors. McGowan will remain as CEO, while Holmes will transition from the day-to-day operations to lead selected strategic projects.

Climbing industry veterans McGowan and Holmes formed Head Rush in 2012. They saw a need for an auto belay device that allowed climbers to train without a partner but did not carry the drawbacks of existing hydraulic and friction-based solutions. The TRUBLUE™ auto belay was developed based on proprietary magnetic braking technology and experienced tremendous market success. Additional products were subsequently built on the platform, including equipment for zip lines, aerial adventure courses, and free-fall jumps.

The company’s products can now be found in facilities in approximately 100 countries throughout the world including climbing gyms, adventure tours, and amusement centers featuring fun walls and trampoline parks. With a patented technology solution that provides an outstanding user experience while mitigating risk and facilitating regulatory compliance, they are recognized as an industry leader and innovator.

“We have been impressed with the Head Rush team, technology, and product line since day one,” said Ed Whatley, a Managing Partner at Pike Street Capital. “This investment is about taking an already great company to the next level and delivering a thrilling adventure experience to a broader audience.”

About Head Rush Technologies

Based in Boulder, Colorado, Head Rush Technologies is an engineering company that is on a mission to make adventure experiences more enjoyable for the user and to increase ROI for operators. Their patented magnetic braking system has led to the development of best-in-class recreational devices found in facilities worldwide, including the TRUBLUE Auto Belay (the #1 Auto Belay in the world), zipSTOP Zip Line Brake, QuickFlight and FlightLine Free Fall Devices. More information is available at www.headrushtech.com.

About Pike Street Capital

Seattle-based Pike Street Capital manages a private equity fund focused on growth buyouts in industrial technology in the lower middle market.  With a combined 75+ years of investing and operating experience, Pike Street partners with management teams to build and execute a strategy for future growth.  Pike Street Capital was co-founded by Paul Caragher, Dave Dandel and Ed Whatley.  More information is available at www.pikestreetcapital.com.

Press Contact:

Chris Koske
Director of Marketing
Head Rush Technologies
P: +1.760.560.8439
chris.koske@headrushtech.com

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