Pike Street Capital Announces Major Investment in Head Rush Technologies
Investment in Boulder-Based Maker of Adventure Recreation Equipment Opens Opportunities in Global Adventure Market
SEATTLE, Wash. - May 28, 2019 - Pike Street Capital (Pike Street) announced today a major investment in Head Rush Technologies (Head Rush), a maker of best-in-class equipment for the climbing and adventure industries. The investment follows several years of strong growth by Head Rush, fueled by the market success of the company’s revolutionary TRUBLUE™ auto belay device. The Pike Street investment will serve to accelerate this growth and expand the company’s global footprint in the rapidly growing climbing, adventure, and active amusement markets.
"We’re very excited about this investment from so many different aspects,” said Ed Whatley, partner at Pike Street Capital. “Head Rush is a recognized innovator in an industry that is growing by leaps and bounds. Their engineering and technology have applications not only within the climbing community, but in adventure tourism and the new “adventuretainment” centers that have become a worldwide phenomenon. The growing demand for these types of activities combined with increased industry regulations and the distinct advantage of Head Rush’s proprietary technology puts them in an ideal position to serve these markets.”
Based in Boulder, Colo., Head Rush was formed in 2012 by climbing industry veterans John McGowan and Steve Holmes. 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. These products are now found in facilities in approximately 100 countries around the world.
Head Rush is still led by McGowan and Holmes, both of whom will continue to be involved in the company post-acquisition as investors. McGowan will remain as CEO, while Holmes will transition away from the day-to-day operation of the company.
“We are adventure enthusiasts as well as business operators, and we’ve always brought this dual perspective to Head Rush”, 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 look forward to growing the company with them as strategic partners. Their deep operational expertise, alongside the financial investment, will benefit both our customers and employees.”
Pike Street Capital’s investment will help Head Rush expand its sales channels to reach its growing markets, and leverage its technology to accelerate the product roadmap.
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.