Denver-based Gart Capital Partners is investing $10 million in The Finish Line’s Running Specialty Group, a running-shoe retailer.
Gart will move the headquarters of Running Specialty Group to Denver and take over management and merchandising.
Indianapolis-based Finish Line will remain the majority owner of Running Specialty Group.
Ken Gart, a partner in Gart Capital Partners, said the headquarters relocation will involve offering job transfers to up to 12 corporate employees of Running Specialty Group.
The firm operates 19 stores, mostly along the East Coast.
Gart said it plans to grow the chain with new stores, including some in Colorado.
“This is a time of change within specialty running, and we are out in front leading it,” Gart said.
Finish Line chief executive Glenn Lyon said the concept will be for Gart to build and maintain the stores’ individual personalities while providing coordinated management and business systems.
Gart Capital “has a proven track record of demonstrating that these principles can be maintained while simultaneously executing a successful rollup strategy,” Lyon said.
Gart Capital co-owned and operated Specialty Sports Venture, operator of Colorado Ski & Golf and Bicycle Village, until it was acquired in 2010 by Vail Resorts Inc.
The Finish Line Inc. operates 635 athletic shoe and apparel stores nationwide.
Gart Capital Partners’ portfolio includes GolfTEC, Colorado Bag’n Baggage, Swoozie’s and the Powderhorn ski resort.
Steve Raabe: 303-954-1948 or sraabe@denverpost.com
