German water sports brand Boards & More acquires SQLab
By Jo Beckendorff
OBERHACHING, Germany (BRAIN) – Boards & More Group GmbH has acquired the ergonomic bicycle brand SQLab GmbH. The companies do not publish a purchase price for the acquisition, which went into effect on March 30. Both companies are based near Munich.
Boards & More is a leading supplier of kitesurfing, windsurfing, wing foil and stand-up paddleboarding which also owns Ion, a mountain bike clothing brand. SQLab manufactures saddles, shoe soles, grips and handlebars. SQlab founder Tobias Hild will remain on the board as managing director, while his wife, co-founder and CFO Annette Hild, will step down from the company.
The location and the SQlab team will not change.
In the future, the two companies wish to jointly develop and distribute other innovative products for the cycling market.
With the Boards & More group behind it, SQlab wants above all to take the next steps towards internationalization. This would imply, among other things, the establishment of new logistics. Since 2013, Boards & More Group has been in the hands of the Munich investment company Emeram Capital Partners. The Oberhaching-based company operates the three brands Duotone, Fanatic (both water sports) and Ion.
The Ion brand was founded in 2004 as a brand offering wetsuits and other neoprene products. In 2012, it expanded with a bicycle division. Today it offers mountain bike clothing, protectors, gloves, shoes and backpacks.
In 2015 Ion made his debut at Interbike with his own stand.
While Boards & More has said it wants to transfer “the fun of surfing to cycling” with the brand, SQlab is seen as a pioneer in ergonomic cycling products. For example, the brand claims to be the first manufacturer to start with the concept of saddle bone measurement and offer custom saddles (and later shoe soles) in different widths.
Tobias Hild’s latest project is to start the production of custom saddles in Germany. This activity is being developed in order to supply the market with high quality products “Made in Germany”.