AMHERST, Mass. (February 25, 2021) – OrthoLite®, the industry leader of branded, high performance and comfort footwear solutions, unveils OrthoLite O-Therm™, an innovative new thermal insole technology that sets a new standard in cold-weather footwear protection. O-Therm offers all of the known benefits of open-cell PU-foam, while combining the world’s lightest and most insulative cold barrier protection. This technology is only possible with O-Therm’s proprietary aerogel’s unmatched thermal properties and is unrivaled in any other footwear offering. For the consumer, this means your feet will stay warmer, you can stay outdoors longer, feel more comfortable, perform better and go farther in cold weather conditions.
O-Therm is the first and only aerogel-infused, open-cell PU foam. This new technology creates a thermal barrier that blocks the cold and maintains footwear temperature regulation. Using an advanced aerogel, the world’s most insulating material, the proprietary combination of materials in O-Therm delivers unmatched thermal insulation and all-day comfort underfoot for cold-weather protection.
“OrthoLite’s proprietary aerogel is O-Therm’s secret sauce,” explains Rob Falken, Vice President of Innovation at OrthoLite. “Our advanced aerogel traps micro-pockets of air without the need for loft, and it won’t lose its effectiveness when compressed under foot. OrthoLite’s aerogel is unlike any other aerogel solution in that it is nano-porous inside of a multi-porous structure, and that creates a supreme thermal barrier which blocks both cold and heat. In addition, O-Therm’s advanced silica aerogel powder is the lightest man-made material, weighing in at only three times the weight of air,” Falken notes.
O-Therm advanced aerogel is also exceptionally hydrophobic, which means it repels water and moves moisture away from the foot to provide a drier, more comfortable shoe environment. Exclusive to OrthoLite, this proprietary advanced aerogel requires no special handling or encapsulation – a world’s first.
OrthoLite worked with third-party thermal test laboratory, New York City-based Vartest Laboratories, to quantify the thermal performance of O-Therm aerogel insoles under extreme cold conditions -78°C (-108°F). The third-party test results validate that O-Therm is a breathable thermal barrier that is 54% more effective on average in comparative testing to other thermal insoles when tested at -78°C (-108°F).
O-Therm retains all of the comfort and performance benefits of OrthoLite open cell PU foam. O-Therm is a 2mm base-layer thermal foam that can be combined with a wide range of OrthoLite top-layer foams to create a custom insole solution tailored to a broad range of footwear categories, including: outdoor, casual, work, ski and snowboard, fashion, and other cold weather footwear categories. The innate thinness and moldability of O-Therm also makes it an ideal thermal barrier solution for footwear linings and strobel layers—bringing unsurpassed cold block technology without adding bulk or weight.
“We are proud to introduce this new thermal innovation to the footwear industry,” says John Barrett, President of OrthoLite. “We see tremendous potential in the market—in cold weather footwear applications and beyond.”
As a vertically integrated U.S. company with facilities around the world, OrthoLite collaborates with its brand partners to create and produce custom insole formulations that deliver unrivaled comfort and performance. For additional information on the new O-Therm technology, please click here.
Posted in Boots, Materials, Press Release | Comments Off on OrthoLite Creates World’s First and Only Aerogel-Infused Open Cell PU-Foam
Tecnica changed the outdoor footwear game several years ago with the Forge which adapted the Thermoform system normally found in ski boots for use in hiking footwear.
Last year, Tecnica introduced the Magma, a low top mountain shoe. This September comes a Mid version, complete with Gore-Tex lining.
It will be offered in both Men’s and Women’s sizing and incorporates an anatomically shaped last which closely matches the shape of the foot, delivering a precise fit out of the box that can be even more dialed in with the integrated lacing system. Even more impressive is Tecnica’s C.A.S system, which custom molds sections of the upper to the individual’s foot.
The mid-cut boot features a suede upper with a GORE-TEX liner for that ideal combination of warmth, protection, and waterproof/breathability. The thoughtful outsole design, inspired by MTB enduro tires, provides optimal grip in all surfaces regardless of conditions.
Our tactical boot sock program was developed using our extensive knowledge of medical grade compression hosiery along with warfighter evaluations and recommendations.
We spoke to hundreds of current Warfighters, Law Enforcement, Fire, and Rescue American Legends for their input. It turned out that all of these individuals have common needs. We heard oner and over that, “If my feet hurt and I get blisters, I’m miserable and my focus suffers”. Based on this feedback, we selected the very best American Merino Wool and Moisture Wicking Nylon yarns for our socks. We designed the highest performance tactical socks available. We manufacture them, in a “state of the art” mill in our home state of North Carolina. Our socks are field tested by Special Operations and worn by all branches of the military.
So, what makes us different? It is the use of graduated compression to reduce foot fatigue. We use graduated compression in everything we make. Our mission is to keep your feet healthy to extend the life of your legs.
Unfortunately, it is common for your feet to be either hot, cold, or wet. As a result, we keep our product simple and offer LEGEND® tactical socks for all temperatures and weather conditions.
Seamless toe design and dense terry cushioning to reduce friction, toe irritation, and to increase comfort.
Wide Arch Support to minimize sock movement, blisters, and provide greater comfort.
Our All Weather and Cold Weather boot socks use a high percentage content of merino wool. They are, moisture wicking, temperature regulating, breathable, antibacterial, and odor resistant. We also use an unique Spuncover™ process by wrapping our merino wool in nylon that makes our socks, softer, more durable, and reduces shrinkage.
In addition, our All Weather and Cold Weather boot socks, based upon independent 3rd party testing are Flame Resistant (FR).
The Merino Wool All Weather compression boot socks have cushioning on the sole and shin, arch, and instep, for added comfort.
The Merino Wool Cold Weather compression boot socks have dense terry cushioning through-out the entire sock to help keep your feet warm during cold weather conditions.
The Warm Weather compression boot sock is knit using “Aquarius” nylon technology with high performance engineered micro-channel nylon fibers. This technology accelerates wicking, and evaporation; keeps moisture away from your feet. These hydrophilic attributes keep your feet dry and free from blisters.
The LEGEND® program is proudly “Made In USA” in North Carolina under stringent quality control in an ISO1901:2015 certified compression hosiery knitting facility.
We are also a SKILCRAFT® Program “Supporting Jobs for Blind Workers”
NTOA National Tactical Officers association “Members Tested and Recommended:”
The USMC Tropical Boots are back in stock at provengo.com
Designed to withstand extreme tropical environments, they have become a favorite with Marines over the past 3 years. Top features include:
• Breathable, moisture-wicking mesh lining
• Cushion Element PU footbed for optimal airflow and drainage
• Nubuck leather upper with lightweight 1000 denier nylon
• Speed lacing system for secure, enhanced athletic fit
• Exclusive Vibram Panama outsole to increase traction in rough conditions
Provengo and Danner worked directly with the United States Marine Corps over the course of five years to perfect the functionality of the Tropical Boot. The boot design has been modified based on feedback from field tests and user evaluation.
The USMC Tropical Boot contract was awarded to Provengo in 2019 with a complete contract value over $13M+. Provengo continues to deliver Tropical Boots to the USMC with future option years remaining.
About Provengo
Provengo is a provider of personal, operational, tactical and lifestyle equipment to the Department of Defense and Federal/State Government Agencies. Provengo also offers Military/Veteran/Federal/LE/First Responder discounts at www.provengo.com
Simply register on the website for a government account to take advantage of these great deals at Create Account | Provengo. As an extra bonus, use coupon code SS2021 for $15 off your next purchase.
The new 9” Kenetrek Hard Tactical provides excellent support and durability for any duty application requiring a black boot. You will be amazed at the comfort of this boot due to the extra padded soft collars along with a special flex notch upper design. The uppers are made with 2.5mm premium full grain leather utilizing a one-piece vamp design – meaning no stitching at the tongue to come loose or allow moisture to penetrate. The uppers sit on top of stiff yet light full-length nylon midsoles. Great traction and long wear are assured with the Kenetrek Grapon™ rubber outsoles. Waterproof, breathable Windtex membranes keep your feet completely dry no matter what the weather is like. For a boot with this kind of support, the Hard Tactical is very light in weight at only 3.9 pounds per pair! Made in Europe. Suggested Retail Price = $330.
Irvine, Calif. (February 1, 2021) – 5.11, Inc., the global innovator of purpose-built gear, has revealed new packs, apparel, footwear and accessories to be launched in Spring and Fall 2021. The 2021 product line includes all-new items along with updates to previous product offerings for outdoor adventurers and tactical enthusiasts alike.
5.11’s brand mantra, Always Be Ready, has never been more relevant than it is today. In 2021, 5.11 supports this core message with products that enhance customers’ ability to stay healthy, prepared and self-reliant. 5.11’s most robust product offering across categories in years, the RUSH 2.0 collection provides users with versatility and functionality on the go, the A/T Series offers professionals a durable and highly technical support for all day performance and comfort, the PT-R series gives end users an opportunity to stay physically fit in any environment, and the covert Norris Low-Top Sneakers gives daily wearers the protection of a combat boot in a street shoe. Preparedness is the first priority, and 5.11’s new products for 2021 were engineered to get customers there.
“Our end-users depend on 5.11 products and gear to ensure they can live the mantra of Always Be Ready,” said 5.11’s CEO, Francisco Morales. “That fact is a guiding principle as we work to design, develop and introduce new items into our offering. From public safety professionals, operators, and outdoor enthusiasts, we spend years fine-tuning products to meet their needs. We couldn’t be more excited for the new gear we are bringing to market in 2021.”
“This year we are expanding the 5.11 product range to offer something for multiple aspects of life,” added Matt Page, Vice President, Global Product for 5.11. “We want to ensure our customers have 5.11 products to help them feel prepared and to perform their best, whether they’re on duty, at work, training or active in the outdoors. In order to meet that goal, we’ve extended or updated many existing product lines with some exciting new products and categories.”
After years of in-field testing and end-user feedback, the iconic 5.11 RUSH Series Backpacks, featuring 5.11’s signature Center Line™ design – originally launched in 2007 with over 1 million sales since that time – is being reintroduced this Spring with the RUSH 2.0 Series. The new RUSH 2.0 Series is continuing to offer customer-favorite features such as durable 1050D-nylon construction, MOLLE platforms and multiple gear loops for ultimate customization, while introducing all-new aspects including a padded laptop compartment and a hidden concealed-carry compartment. Further updates include revised interior organization; a relocated hydration port; a larger fleece-lined eyewear and media pocket, and new color options. Capacities: RUSH12™ 2.0 (24 liters) (MSRP $109.99), RUSH24™ 2.0 (37 liters) (MSRP $139.99) and RUSH72™ 2.0 (55 liters) (MSRP $189.99). Also available in Multicam®.
5.11 RUSH 2.0 Backpacks
Designed utilizing four guiding pillars of durability, accessibility, functionality and versatility, the new Daily Deploy 48 Pack is a versatile pack offering 39-liter capacity and design features appealing for an application from every-day civilian use to professionals requiring their essential gear organized and accessible. A side brief opening offers full access to a loop lined main compartment and secondary compartment, while a dedicated rear compartment perfectly houses a laptop or hydration system. RUSH Tier compatible with front and side MOLLE webbing, this pack is as versatile as they come and will be available come Spring (MSRP: $159.99). For those that need the versatility of a tactical pack but in a discrete look, the new 32-liter COVRT18 2.0 provides everything from concealed-carry and flex cuff storage to a TSA checkpoint friendly laptop compartment and tuckable logos for the ultimate covert solution. (MSRP: $139.99)
To complement its enhanced line of packs, 5.11 has partnered with Hydrapak® to produce an ultra-durable, 3-liter hydration system with a fixed center baffle for a slim profile. The new WTS and WTS Wide 3L Hydration Systems (MSRP: $44.99) work in conjunction with 5.11’s convertible hydration carriers. The Convertible Hydration Carrier (MSRP $54.99) converts from a backpack to a MOLLE pouch and attaches to a plate carrier/vest via the PC Convertible Hydration Carrier (MSRP: $59.99).
5.11 Hydration System
A whole new category of innovative training gear will be introduced from 5.11 this summer with the Physical Training-Ready (PT-R) Line. The PT-R Weight Kit 50 and PT-R Weight Kit 100 provide the customer a creative and portable solution to training when weights or other gym equipment is not available. The kits include two heavy-duty liner bags that can be filled with sand or other weighted material. The liners can be used as stand-alone weight bags or placed in the larger weight bag for weighted bag training. The liner bags and weight bags feature reinforced, non-slip grip handles to ensure durability and continued use. The PT-R Weight 50 Kit (MSRP: $149.99) holds approximately 25lbs of sand in each liner bag (50lbstotal) and the PT-R Weight 100 Kit (MSRP: $169.99) holds 50lbs of sand in each liner bag (100lbs total). When not filled with sand the bags can be packed into luggage and brought to any destination.
5.11 PT-R Collection
Further additions to 5.11’s training gear include the TacTec® Trainer Weight Vest (MSRP: $139.99) and the TacTec® Weight Plate Sandbag (MSRP: $54.99) Inspired by the Tactec® Plate Carrier, the Tactec® Trainer Weight Vest is a low profile, lightweight and comfortable vest with adjustable stretch cummerbunds, front/ rear MOLLE and is compatible with Rogue® weight plates and the TacTec® Weight Plate Sandbag – a heavy-duty and adjustable bag that can be filled with sand or other weighted materials and secured in the vest allowing the customer to train anywhere.
The new inner/outer 1.75” Maverick Battle Belt features an ergonomic curve for maximum comfort and 5.11’s proprietary TAC-LAM® high strength laminate on top of a dual nylon webbing. 1” and ½” laser-cut weaving opportunities ensure effortless arrangement of your duty and training gear complete with a COBRA® buckle. Available in the fall. (MSRP $149.99)
Another product implanting a unique, innovative and convertible theme is the ABR Plate Carrier (MSRP: $159.99). Covertly stored in a briefcase when not in use, the convertible plate carrier features laser-cut and web MOLLE, an admin pocket, adjustable shoulder straps and quick release waist straps.
5.11 A/T 8 HD
The All Terrain Load Assistance System (A.T.L.A.S.) Footwear collection that was launched in 2020 – and that quickly became a customer favorite – is being enhanced and expanded in 2021 as the A/T Series Featuring 5.11’s A.T.L.A.S. Technology. The A/T 6 Non-Zip Boot (MSRP: $154.99) and A/T 6 Side Zip Boot (MSRP: $154.99) feature 5.11’s Echo (high rebound) and Force (high impact) foam midsole with the A.T.L.A.S. plate for turning and stability control while carrying additional weight, the A/T 8 HD (MSRP: $179.99) offers the full benefits of A.T.L.A.S. technology along with a new heat deflecting leather and internal reflective strobel sock to reduce heat from the ground. The result is a boot that can provide comfort and stability for all-day duty.
The stylish, do-it-all line of Norris Sneakers is also expanding in 2021 with a Low-Top Norris Sneaker (MSRP: $94.99) this Fall. The same functionality and durability of the original High-Top Norris Sneaker will be available in 2 new colors including black/gum and dark coyote. The High-Top Norris is also getting an update this year with new colorways –coyote, storm, multicam, dark navy, black/woodlands camo, and black/white (MSRP: $99.99).
5.11 Low-Top Norris Sneaker
Durable and functional apparel has been a staple of 5.11 since day one. 2021 will see new additions in all apparel categories for both men and women. The new men’s Ridge Pant is constructed with a Flex-Tac polyester/cotton canvas and DWR treated for ultimate durability. Hidden pockets, low-profile cargo pockets, articulated knees and an updated fit add functionality to this stylish and durable pant. It doesn’t get much more versatile than the men’s Decoy Pant and its ability to easily be converted from pants to shorts and back. Add in eight pockets, including concealed cargo pockets, yoke utility pockets and more, along with 50+ UPF protection and a DWR finish, this is one piece of clothing that can do it all. For the bolder men of the world, the ultra-durable Commando Kilt featuring a DWR treated polyester/cotton ripstop fabric will be offered in Multicam this Spring. (MSRP: Ridge Pant $84.99, Decoy Pant $84.99, Commando Kilt in Multicam $94.99).
5.11 Men’s Ridge Pant
The Shella Pant is a new offering in the women’s pant line. It features a straight fit and clean look while offering functionality for in-field and recreational use with low profile pockets, a DWR finish, and a polyester/elastane, 4-way stretch Enduro-Flex™ fabric. Women looking for a comfortable pant that can withstand the rigors of a hard workout will enjoy the Kaia Tight. It offers 5.11’s reflective heat transfer, moisture wicking, anti-odor technology, and flat-locked seams for added comfort. Dual side pockets and a hidden interior waistband pocket allows wearers to comfortably carry valuables. (MSRP: Shella Pant: $74.99, Kaia Tight $64.99).
5.11 Women’s Shella Pant
The men’s apparel line also added shorts for the Spring with the Defender Flex Range Short (MSRP: $64.99), the Trail Short (MSRP: $74.99) and the Icon Short (MSRP: $74.99). The Defender Flex is designed to hold up to consistent wear, tear and humidity with strategically placed reinforcements in high-stress areas and stretch fabrics. Meanwhile the Trail Short is finished with a quick-dry, DWR finish that makes them an amphibian type short great for both on the land and in the water. The tough and popular Icon line is expanding to offer an Icon Short built to withstand long durations of outdoor use and abuse. It features a durable Teflon finish on a stretch fabric and enough pockets to haul gear for any mission or adventure.
5.11 Men’s Wanderer Shirt
For tops, 5.11 listened to customer’s request to offer Marksman Short Sleeve – after the long sleeve iteration became a favorite. The Marksman Short Sleeve offers 50+ UPF protection, a stylish button-up look, moisture wicking properties, underarm mesh gussets and two chest pockets to create a clean and comfortable shirt for any occasion. (MSRP: $54.99) 5.11 is excited to expand their Vent-Tac™ technology offering with two new novelty prints in the 99 Cans of Beer Short Sleeve Shirt and the Wanderer Short Sleeve Shirt (MSRP: $64.99, $64.99)
Functionality, comfort and style are key elements for the new women’s tops of 2021. The Tessa Full Zip (MSRP: $ 74.99) and Tessa 1/4 Zip (MSRP: $74.99) utilize a fitted cut and strong styling accents with a polyester/elastane jersey fabric that wicks moisture and prevents odors. The women’s Nora Short follows suit with a comfortable and durable 98% cotton, 2% elastane stretch twill blend. Additional features of the Nora Short include dual back utility pockets with endure-flex pocketing and a comfort stretch waistband (MSRP $54.99).
5.11 Women’s Tessa ¼ Zip
For customers who desire to Always Be Ready in any and all conditions, 5.11 is introducing the Atmosphere Regulator System, a full, multi-layer clothing system designed for anything nature dishes out. The system starts with the Tropos Base Layer Tight (MSRP: $47.99) and Tropos Base Layer Top (MSRP: $47.99) that feature graphene yarn and flatlock seams for moisture wicking performance and comfort. Next the Stratos 1/4 Zip (MSRP: $69.99) is an all-season pullover with moisture-wicking and anti-odor capabilities, brushed tricot-lined inner collar and raglan sleeves for a versatile layer that provides a full range of motion. The Mesos Tech Fleece (MSRP: $94.99) full-zip jacket is made with anti-piling microfleece and strategically place N6-nylon overlays for extra durability. The Exos Rainshell (MSRP: $129.99) offers 20k-waterproof and 10k-breathable protection and comfort that is fully seamed-sealed to withstand any storm. Finally, the Atmos Warming Jacket (MSRP: $179.99) is parka designed to provide ultimate warmth is extremely low temperatures with polyester PrimaLoft insulation, a slotted button-front placket with webbing attachment, internal sleeve gaiters and under-arm zippers for venting when it’s doing its job too well.
Customers looking for everyday carry tools will be happy to see new many new items from 5.11 that are keychain or micro hardpoint carabiner compatible. The EDT Hex comes with four tip fastening options including a Phillips and slotted screwdriver tips for everyday tasks and T6 and T8 Torx heads, ideal for knife tune ups, optics, and electronic devices (MSRP: $16.99). The EDT Pry features a pry tip that doubles as a flat-head screwdriver, a ¼-inch driver that works with standard hex bits, as well as a bottle opener (MSRP: $14.99). The EDT Rescue includes a carbide tip that can shatter tempered automotive glass, a web cutter that makes quick work of a stuck seat belt, and an oxygen key should you need it (MSRP: $14.99).
5.11 EDC K-USB Flashlight and EDT Pry
When it comes to EDC, knives embody “everyday” more than any other tool. The minimalist Base 1SF knife is a quick-access keychain edged tool. It features a 1.5-inch sheepsfoot blade constructed from 8CR13MOV stainless steel. With a one-handed thumb stud opening and frame lock, this tool can handle everyday tasks directly from your pocket. Measuring less than 4 inches when opened, it folds down to an easily carried 2.365 inches. Practicality simplified for on-the-go. Includes a split ring and micro Hardpoint carabiner for multiple connection options. (MSRP: $16.99)
The EDC K-USB Flashlight keeps 150 lumens at the ready with its keychain-carry design. With a body constructed from aerospace-grade aluminum and IP54 dust and water-resistant rating, it will withstand the daily beating of keychain carry. A battery status LED in the switch reminds users when actively recharging and fully charged. (MSRP: $32.99)
5.11 GTI Capsule
5.11 is thrilled to announce new products in collaboration with special forces veteran and leader in the tactical cutlery industry, Justin Gingrich, who pioneered the modern tactical tomahawk and has developed some of the most sought-after tactical knife and tomahawk designs. Gingrich teamed with 5.11 to design the Peacemaker CFA with a heat-treated steel blade and pick head with full-tang steel construction that’s perfect for heavy field use. Best of all, the Peacemaker CFA swings with the accuracy and feel of a hammer. Its skeletonized frame reduces the weight (1 lb., 12.2 oz), which helps make short work bigger tasks. A textured handle, finished with a tactical pummel tip, provides a sure grip in wet and freezing conditions. It includes a protective sheath and four position belt/MOLLE clip with a 3” capacity. (MSRP: $149.99)
Gingrich also led the design of the CFK 7 Peacemaker (MSRP: $129.99). Thanks to the heat-treated steel blade and full-tang steel construction, the CFK 7 Peacemaker can handle tough jobs that lesser knives can’t touch. Blade perforations reduce weight to help make short work of cutting, batoning, and carving. The textured handle, finished with a tactical pummel tip, provides a sure grip in wet and freezing conditions. It also includes a protective sheath with updated two position 3-inch belt/MOLLE clips.
3M Carbon Black Embellishment for 5.11
5.11 is excited to announce the option for 3M™ Carbon Black embellishment now available through the 5.11 Custom Shop in Manteca, CA. This patented reflective film has a high level of durability while still maintaining flexibility which makes this glass bead technology a perfect candidate for application to uniform and outerwear alike. Officer Safety is the primary intent of this product giving off-angle brightness in low-light situations, however, remaining a muted appearance during daylight conditions. Unlike other treatments, 3M™ Carbon Black will not lose the dark coloration or reflective properties while still maintaining a peak performance for the life of the product. Capability for embellishment is near limitless from custom agency or standardized law enforcement callout. Additional recommendations are to include piping around sleeves and stripes down pant and pocket to allow more points of viability.
“Every new product from 5.11 is designed with a purpose and introduced to meet the needs of our end-users,” said 5.11 Chief Marketing Officer, Debra Radcliff. “At 5.11, we work closely with leading experts, professionals, and enthusiasts to offer gear capable of meeting or exceeding the high standards of our customers. Many of these new items are several years in the making, and we couldn’t be more excited to add them to our assortment.”
NELSONVILLE, Ohio – Rocky Brands (NASDAQ: RCKY) has been awarded a contract worth approximately $3.5 million to produce a new safety boot for the U.S. Navy. Rocky will begin the manufacturing process immediately with deliveries to begin in the third quarter of 2021.
“Rocky has been a provider of military footwear for generations, and our relationship with the U.S. military is an integral part of our brand and our heritage,” said Jason Brooks, CEO of Rocky Brands. “It is an honor every time we are selected to produce reliable, performance-specific footwear for our servicemen and women.”
The agreement between Rocky and the U.S. Navy is for one year with an option to extend the contract for an additional two years. It is Rocky Brands’ third active contract with the U.S. Navy. The company also has an active contract to produce footwear for the Army.
The new eight-inch naval safety boot will be manufactured at Rocky’s company-owned factory in Puerto Rico.
Rocky Brands, Inc. is a leading designer, manufacturer and marketer of premium quality footwear and apparel marketed under a portfolio of well recognized brand names including Rocky®, Georgia Boot®, Durango® and Lehigh®. More information can be found at RockyBrands.com.
Acquisition will significantly advance Rocky’s leadership position in high-quality performance footwear
Expected to be immediately accretive to gross margins and earnings per share
NELSONVILLE, Ohio, January 25, 2021 – Rocky Brands, Inc. (NASDAQ: RCKY) today announced that it has entered into a definitive agreement to acquire the performance and lifestyle footwear business of Honeywell International, Inc. including The Original Muck Boot Company and XTRATUF footwear brands, for a purchase price of $230 million.
Jason Brooks, President and Chief Executive Officer of Rocky Brands, Inc., commented, “With the acquisition of The Original Muck Boot Company along with the XTRATUF, Servus, NEOS and Ranger brands, we will greatly enhance our powerful portfolio of footwear brands and significantly increase our sales and profitability. We’re acquiring a well-run business with a corporate culture and a customer base similar to ours, which provides meaningful growth opportunities within our existing categories as well as an entrée into new market segments. Its innovative and authentic product collections complement our existing offering with minimal overlap, which will allow us to strengthen our wholesale relationships and serve a wider consumer audience. At the same time, we plan to leverage Rocky’s advanced fulfillment capabilities to improve distribution of the new brands to wholesale customers and accelerate direct-to-consumer penetration. I am incredibly proud of the success our organization has achieved over the past several years, and I am excited to build on our momentum as we begin this exciting new chapter for the Company.”
“We are thrilled to be joining Rocky Brands,” said Craig Reingold, President of Honeywell’s lifestyle footwear business. “This transaction will bring together many strong, beloved brands. As we look to the future, the combined entities provide our passionate associates with greater opportunities to serve our accounts and consumers who have come to love our brands. I could not be more proud of the team and their success in building our brands over the past several years. We look forward to a smooth integration and capitalizing on our collective experience, innovation and operational expertise to deliver outsized growth for years to come.”
Lifestyle and Performance Business Overview
The acquired brand portfolio has built strong consumer loyalty through years of developing innovative, quality footwear. For 2020, net revenue is estimated to be approximately $205 million with EBITDA of approximately $24.5 million. The business grew in 2020 with performance accelerating throughout the year, culminating in strong top-line growth in the fourth quarter.
The Original Muck Boot Company has pioneered the quality rubber and neoprene boot category by delivering remarkably weatherproof and exceptionally comfortable products made with premium materials designed to brave every element. For more information, visit www.muckbootcompany.com
XTRATUF is a leading outfitter in the commercial fishing segment having provided Alaskan fishermen with capable, comfortable and reliable footwear in wet conditions for nearly 60 years. For more information, visit www.xtratuf.com
Servus boots date back to the 1920s and today the brand is known for its high-quality, accessible PVC footwear made for wet working conditions.
NEOS is known for overshoes with extreme traction. Its products are proven to keep feet dry and comfortable in extreme conditions and surefooted on almost any terrain.
Ranger boots are built for cold and wet weather and providing exceptional comfort and function at a value price.
Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
In connection with the signing of the purchase agreement, seven management employees of Honeywell’s lifestyle footwear business located in Westwood, Massachusetts have entered into employment agreements with Rocky Brands, the effectiveness of which agreements is conditioned on the closing of the transaction. As an inducement to enter into the employment agreements, Rocky Brands agreed to grant stock options to the seven management employees, totaling options to purchase 25,000 shares, on the date of closing of the transaction. The options have a term of 10 years from the date of grant and vest 50% on the first anniversary of the date of grant with the remaining 50% vesting on the second anniversary of the date of grant. The options were granted as inducements to employment in accordance with Nasdaq Listing Rule 5635(c)(4).
Transaction Financing
The purchase price is being funded with an $80-million senior secured asset-backed credit facility with Bank of America, N.A., a $130 million senior secured term loan facility with The Direct Lending Group of TCW Asset Management Company LLC, and cash on hand. The credit facility bears interest at LIBOR plus 1.50% and the term loan bears interest at LIBOR plus 7.00%. Terms of the credit facility and term loan will be more completely discussed in the Company’s Form 8-K filed with the Securities and Exchange Commission
Transaction Approval and Closing
The definitive purchase agreement, which is subject to customary closing conditions and regulatory approvals, was approved unanimously by the Rocky Brands Board of Directors and is expected to close in the first quarter of 2021.
Advisors
B. Riley Securities served as financial advisor to Rocky Brands, Inc. and provided its Board of Directors with a fairness opinion. Porter Wright Morris & Arthur LLP served as legal counsel to Rocky Brands, Inc. Centerview Partners served as the financial advisor to Honeywell, and Crowell & Moring LLP served as legal counsel.
Posted in Boots, Industry, Press Release | Comments Off on Rocky Brands, Inc To Acquire Leading Brand Portfolio From Honeywell Including The Original Muck Boot Company and XTRATUF
