News Release | Contact: Kent Kaiser 651-338-1777
Fountain City, Wisconsin-Based Company Seizes Synergistic Opportunity
MINNEAPOLIS, Minn. – October 26, 2021 – Sunbelt Business Advisors President Chris Jones today announced that Sunbelt facilitated the acquisition of ROVUX Footwear (https://rovuxfootwear.com/) by Blitz Innovation (https://blitzinnovation.com/) of Fountain City, Wisconsin. Led by Business Broker Doug Pedersen, the Sunbelt team initiated, structured, and negotiated the transaction. The deal closed on October 8.
“We saw an opportunity to add a great, innovative enterprise to our portfolio and are pleased to have been able to acquire ROVUX,” said Blitz Innovation Founder and CEO Brian Semling. “We are always looking for opportunities like this—to acquire businesses where we can capture synergies and expand our portfolio of brands—and to attract investors to join us to help finance future acquisitions like this.”
ROVUX Footwear was founded in 2018 when the company’s founders recognized a flaw in the sneaker industry: “With just a few big name brands to choose from, it felt like everyone was wearing the same overpriced shoes. We put together a team and decided to take matter into our own hands. ROVUX was built around the belief that everyone deserves unique footwear with the versatility to perform in the gym and turn heads on the street.”
“The previous owner of ROVUX is just 24 years old and has built a great business that fits extremely well into the Blitz Innovation world,” said Jones. “He can be assured that his legacy will be preserved as he pursues new ventures. We are proud to have been a part of his pursuit of the American Dream.”
ABOUT SUNBELT® – Sunbelt® is Minnesota’s largest seller of companies. Founded in 1978, Sunbelt now has 200 offices worldwide, helping people buy and sell businesses. The Sunbelt Business Advisors Minneapolis office is the largest office in the Sunbelt network with a staff of over 50 advisors, associates, analysts, and business development representatives. The firm provides services to business owners interested in selling their businesses, assistance with merger and acquisition activities, complimentary business value assessments, and advisement for business owners in understanding how to maximize their net proceeds when they exit. The firm provides business brokerage and Mergers & Acquisitions advisory services for companies with revenues from $500,000 to $100 million, as well as finance, exit planning, franchise sales, consulting, and business valuation services. More information is available at www.sunbeltmidwest.com.
