Generous cash injection for inov-8
Inoveight, the parent company of technical sportswear brand inov-8 has announced that it has received a significant cash boost from private equity firm Isis Equity Partners.
The £12 million sum has awarded Isis a minority stake in Inoveight and opened up two posts on the inov-8 board of directors.
UK-based Inoveight was founded in 2003 by Wayne Edy, who said that the investment would be spent on product development and would facilitate expansion into new markets. It currently exports to 58 countries and its running shoes are a favourite with outdoor adventurer and television presenter Bear Grylls.
Mr Edy said: "Finding an investment partner that understands the opportunities and potential created by new technology and innovative thinking in all areas of the business was crucial to accelerating our growth plans."
