About the Company
Born out of a garage in Park City in 1996, Backcountry is now the largest online retailer of premium outdoor sports gear and apparel. Outfitting enthusiasts with the gear needed for activities ranging from snowboarding to climbing, surfing to cycling, Backcountry provides the best brands and service.
Given its strong tailwinds and high-level of consumer engagement, we had long been interested in the outdoor category, and had our eye on the Backcountry brand specifically. With an enthusiastic customer base and an iconic goat logo, it was ripe for expansion, both from a product and distribution standpoint. When Liberty Interactive decided to divest the business, we were able to move quickly, completing our investment in 2015.
We’re working with Backcountry to increase consumer awareness and retention, develop the company’s offering of undiscovered and private label brands, and drive long-term growth. We have helped assemble a best-in-class executive team, and assisted in scaling the Gearhead customer service program, which is a key differentiator and driver of exceptional customer retention and LTV.
From an expansion standpoint, we see opportunities for international growth, especially in Europe, where outdoor activities are an integral part of the culture, and are exploring other product categories, including lifestyle and fitness.
In 2016, EBITDA and free cash flow increased significantly, as a result of the critical improvements we made in working capital management and overall growth.
Additionally, since our investment, the Gearhead program has grown to include 150 account managers who provide high valued customer service. These experts are driving increases in repeat sales for customers that they connect with at a profit margin that is higher than the average order.