B$Z: Digital Fuel Capital to Support Summit Sports Expansion
March 18, 2015
Summit Sports has announced an investment by Digital Fuel Capital into the leading multi-channel action sports company and its websites www.skis.com, www.snowboards.com, www.inlineskates.com, www.wateroutfitters.com and www.campgear.com. The investment is aimed to support Summit’s acquisitions of other e-commerce leaders in specialty sporting goods, as well as continue Summit’s organic growth and stellar performance in the action sports industry.
“Summit has been looking for the right partner to help take the company to the next level, and Digital Fuel Capital has a base of knowledge and resources to support us with that objective, as well as a passion for the action sports industry,” says Steve Kopitz, founder and Ski-E-O of Summit Sports. “We are looking forward to their support of our continued growth and pursuit of acquisitions to bring our customers the highest quality products and services that they have come to expect from us.”
“We are excited to partner with Steve Kopitz and the Summit Sports team to support their expansion in specialty online sporting goods,” says Carson Biederman, President of Digital Fuel Capital, “Our mission is to invest in exceptional e-commerce companies and to empower them with access to world class resources to improve and grow. Summit is a great fit for us with their unique content, innovative online tools and deep product expertise. We believe that Summit is an ideal platform to acquire other similar leaders in action, outdoor and other online specialty sports segments.”
In addition to continued growth in its existing categories, Summit will begin a combined search, with the help of Digital Fuel, for leaders in specialty sporting goods e-commerce with a minimum revenue of $5 million. Combined, Summit and Digital Fuel have the skills, platforms, technologies and expertise to help other specialty sporting goods online retailers achieve their full potential.