K2 Sports, LLC (K2 Sports) is an American winter sports company headquartered in

Seattle Seattle ( ) is a seaport city on the West Coast of the United States. It is the seat of King County, Washington. With a 2020 population of 737,015, it is the largest city in both the state of Washington and the Pacific Northwest region o ...

Washington Washington commonly refers to: * Washington (state), United States * Washington, D.C., the capital of the United States ** A metonym for the federal government of the United States ** Washington metropolitan area, the metropolitan area centered o ...

. K2 Sports operates the K2 Skis, K2 Snowboarding, K2 Skates, Backcountry Access, Ride Snowboards, Tubbs Snowshoes, Atlas Snow-Shoe Company, LINE Skis, Full Tilt Boots, and

Madshus Madshus is a Norwegian ski and ski-equipment manufacturer, located at Biri in Gjøvik. The company produces cross-country skis, ski boots and poles. History Madshus is one of the world's oldest ski manufacturer. The first Madshus skis we ...

brands. Famous users of K2 Skis include pro champion Spider Sabich,

World Cup A world cup is a global sporting competition in which the participant entities – usually international teams or individuals representing their countries – compete for the title of world champion. The event most associated with the concept i ...

and

Olympic Olympic or Olympics may refer to Sports Competitions * Olympic Games, international multi-sport event held since 1896 ** Summer Olympic Games ** Winter Olympic Games * Ancient Olympic Games, ancient multi-sport event held in Olympia, Greece bet ...

champion

Phil Mahre Phillip Ferdinand Mahre (born May 10, 1957) is a former World Cup alpine ski racer, widely regarded as one of the greatest American skiers of all time. His total of 27 World Cup race wins is fourth among Americans, only behind Lindsey Vonn, ...

, and his twin brother Steve Mahre,

World Champion A world championship is generally an international competition open to elite competitors from around the world, representing their nations, and winning such an event will be considered the highest or near highest achievement in the sport, game, ...

and

silver medalist.

History

Founding

Founded in 1962 by brothers Bill and Don Kirschner on

Vashon Island Vashon is a census-designated place (CDP) in King County, Washington, United States. It covers an island alternately called Vashon Island or Vashon–Maury Island, the largest island in Puget Sound south of Admiralty Inlet. The population was 10, ...

, K2 is known for pioneering

fiberglass Fiberglass ( American English) or fibreglass (Commonwealth English) is a common type of fiber-reinforced plastic using glass fiber. The fibers may be randomly arranged, flattened into a sheet called a chopped strand mat, or woven into glass cl ...

ski technology, which made skis significantly lighter and more lively than their wood and metal contemporaries. In 1967, Bill Kirschner named the company K2 (for the world's second-largest mountain and for the two Kirschner brothers, Bill and Don).

Growth and acquisitions

In late 1969, the company's rapid growth required new capital and Bill Kirschner decided a well-financed partner was necessary. The company was acquired by the Cummins Engine Company of

Columbus, Indiana Columbus is a city in and the county seat of Bartholomew County, Indiana, United States. The population was 50,474 at the 2020 census. The relatively small city has provided a unique place for noted Modern architecture and public art, commissio ...

. Then in November 1976, the company was acquired by a private group of Northwest investors. The group, called Sitca, purchased K2 and its subsidiary,

Jansport JanSport is an American brand of backpacks and collegiate apparel, now owned by VF Corporation, one of the world's largest apparel companies. JanSport is the world's largest backpack maker, and together, JanSport and The North Face, also owned b ...

. In 1982, company management purchased all outstanding shares of Sitca Corporation from the group of Northwest investors. Management decided to concentrate all resources on the alpine ski market. In September 1985, Anthony Industries, Inc. acquired 100 percent of the stock of Sitca Corporation. Anthony, an NYSE listed company, develops and manufactures products for leisure and recreational markets under many brand names. In 1995, Anthony Industries sold off its Anthony Pools division to its rival, Sylvan Pools, and changed its name to K2, Inc. By 2000, board member Richard Heckmann had assumed control and embarked on a vigorous growth program. In order to remain financially competitive, in 2001 K2 moved its manufacturing from

Guangdong Guangdong (, ), alternatively romanized as Canton or Kwangtung, is a coastal province in South China on the north shore of the South China Sea. The capital of the province is Guangzhou. With a population of 126.01 million (as of 2020 ...

, China, and its offices to

. Thereafter, the company acquired Rawlings Sporting Goods and Worth, a manufacturer of baseball bats; Brass Eagle and Viewloader in the paintball business; Volkl, Marker, and Marmot. On June 22, 2006, K2 announced it was moving its business office from Vashon Island to Seattle's

Industrial District Industrial district concept was initially used by Alfred Marshall to describe some aspects of the industrial organisation of nations. Industrial district (ID) is a place where workers and firms, specialised in a main industry and auxiliary indus ...

. On April 25, 2007 Jarden Corporation announced a definitive agreement to acquire K2, Inc. for a cash and stock value per share of $15.50. Jarden is controlled by Martin Franklin, a British investor and triathlete. Jarden was later acquired by

Newell Brands Newell Brands is an American manufacturer, marketer and distributor of consumer and commercial products. The company's brands and products include Rubbermaid storage and trash containers; home organization and reusable container products; Conti ...

, who then sold K2 to private equity firm

Kohlberg & Company Kohlberg & Company is an American private equity firm that focuses on leveraged buyout transactions. Founded by investor Jerome Kohlberg, Jr., the firm invests in a variety of transactions including leveraged carveout, take-private transactions, ...

in 2017.

References

External links

* {{Coord, 47.564025, -122.327487, display=t Sporting goods manufacturers of the United States Ski equipment manufacturers Sportswear brands Manufacturing companies based in Seattle American companies established in 1962 Manufacturing companies established in 1962 1962 establishments in Washington (state) Vashon, Washington Private equity portfolio companies 2007 mergers and acquisitions 2016 mergers and acquisitions 2017 mergers and acquisitions

History

Founding

Growth and acquisitions

See also

References

External links