US-based fashion retailer JackRabbit a CriticalPoint Capital (CPC) portfolio company, has acquired Clever Training, an online retailer of fitness gear and technology.
Clever Training was founded in 2002, and expanded from servicing triathletes to providing a curated product selection to fitness enthusiasts across multiple sports and activities.
JackRabbit CEO Bill Kirkendall said: “I look forward to working together with the Clever Training management team who collectively have 40 years of e-commerce experience and a passion for active living.
“A united Clever Training and JackRabbit company will best serve existing and future consumers dedicated to fitness and overall well-being.”
Following the transaction, JackRabbit will operate Clever Training business from its corporate headquarters in Seminole, Florida and will retain the current executive management team, including Andrew McSwain, Bill Gustin, Jarod Harper and Matt Seymour.
Parcrest Advisors served as the financial advisor to Clever Training for the transaction.
CriticalPoint Capital partner Brad Holtmeier said: “This acquisition is the latest milestone for the JackRabbit family that has included the rebranding of our store portfolio, acquisitions of two new flagship stores, the launch of Rogue Training and a rapid expansion of our e-commerce capabilities through this acquisition.
“We remain interested in further e-commerce and retail store acquisition opportunities.”
JackRabbit currently operates 60 athletic speciality stores in 16 states, as well as an e-commerce site offering sports and fitness products to customers.