Generational Equity, a leading mergers and acquisitions advisor for privately-held, middle-market businesses is pleased to announce the acquisition of its client, Super Runners Shops of New York (SRS), headquartered in Huntington, New York, by Surefoot L C, headquartered in Park City, Utah. The transaction closed on May 15, 2012.
SRS was founded over 30 years ago by the original winner of the New York Marathon. It all started with Gary Muhrcke and Jane Muhrcke, who envisioned a running shop that would provide runners with the best service and products possible. Gary, winner of the 1st New York City Marathon, instills the philosophy in his staff that everyone and anyone can start and keep running. As his famous phrase speaks for itself, "Never Stop Running!", becoming one of the very first specialty running shops in the country and serving New York City and the surrounding area ever since. SRS operates eight running shoe stores, one Asics concept shop, one outlet shop, and one seasonal store at an indoor track facility (the NYC Armory) and the ING NYCM store at the Marathon Expo. SRS provides a variety of shoes for participants and athletes in running, walking, training, track & field, and cross training, along with expert advice in each respectable field.
Managing Director, Doug Smith, Gene Gall and Vice President, Michael Goss, led the Generational Equity deal team that advised Super Runners Shop on the transaction. Gene Gall stated, "We had over 40 companies that wanted to buy Super Runners, but we had only one company to sell, that is a problem we like to have." "This transaction is a great example of the skills our dealmakers possess", stated Ryan Binkley, President of Generational Equity. "Being able to recognize the synergies between SRS and Surefoot enabled our deal team to close an optimal deal for our client."
Surefoot is one of the most remarkable success stories in the annals of skiing. As Andy Bigford of Ski Magazine put it, "Surefoot has done more to keep skiers happy than any retail store in the world." It's no wonder then that Surefoot was awarded Ski Magazine's Gold Medal "National Shop of the Year" in 2001, and has received regional Gold Medal "Shop of the Year" awards every year since opening its doors. Starting out in a tiny, closet-sized location in Park City, Utah, Surefoot has grown to numerous locations in North America and Europe and sold nearly half a million custom ski boots along the way.
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