Merit Capital Partners recently partnered with Aiglon Capital Management, the Company’s founder, Robert Propét, and active management to acquire Propet Footwear, Inc. (“Propét” or the “Company”). This transaction represents the first platform investment by Fund VII.
Propét, founded in 1985 and headquartered in Auburn, Washington, is a supplier of comfort footwear products across a broad range of sizes and widths. The Company specializes in designing, developing, and selling footwear for hard-to-fit feet, along with footwear to alleviate discomfort and medical conditions. Propét’s core product categories include active/travel, boots, wellness, casual/dress, and sandals. The Company services its customers through online (dropship and wholesale e-commerce), medical, catalog, and traditional brick and mortar channels.
Joe Polaneczky, a Managing Director at Merit, said, “Propét represents an exciting opportunity to partner with a company uniquely positioned for growth within the comfort footwear segment. Over its more than 35-year history, Propét has become a leading provider of footwear addressing the diverse needs of hard-to-fit feet. We are proud to partner in this investment alongside Aiglon Capital Management and the Company’s talented leadership team.”
Merit provided subordinated debt and equity in this investment. Please contact Dan Pansing, Joe Polaneczky, or Brian Heck for more details.