Located in the Netherlands, Mystic has been developed into the world’s leading kiteboarding accessories brand over the last 15 years by the Blom family. Kiteboarders have voted Mystic ‘Best Accessories Brand in the World’ for the last consecutive six years and the brand is worn by many of the world’s best riders both on and off the water.
Richard Lott, NTG Chief Operating Officer: “This is a significant step in helping us develop our kiteboarding business in many ways. It is a combination of great brands and gives North access to the excellent distribution, IT systems and resources of Mystic. In the future, NTG should be able to bring some significant technical innovation to both businesses, and we are excited to add a capable and motivated management group as well. We passionately want to use our skills to make kiteboarding even better for future generations of riders.”
North Kiteboarding’s new product range is currently under development and will be released globally in June 2019 for the 2020 model year.
North’s product development and brand management are based in New Zealand. Operations and the Sales Headquarters will be based at Mystic/North Actionsports Headquarters in the Netherlands to ensure a high level of service for a global market.
The Mystic management will stay unchanged and will have further scope to grow their roles in the future in a larger business. North Actionsports Group will be led by a combination of the Mystic and North Kiteboarding teams who are highly experienced industry innovators and leaders determined to make kiteboarding sports more accessible, sustainable, innovative and exciting.
Mike Raper, North Kiteboarding Brand Director, said: “This is really exciting news for North Kiteboarding. It considerably strengthens our foundations and we will be more efficient moving forward with the extra infrastructure this provides. I firmly believe creating great products is all about investing in incredible people and I feel we just became so much stronger.”
Max Blom Jr., Mystic Brand Director said: “Building Mystic with our team for the last 15 years has been an amazing journey. Today marks the beginning of what I believe will be a further turning point for our industry. The combination of North and Mystic brings together two great brands and creates a dynamic enterprise under the North Actionsports Group umbrella. It feels great to be part of a bigger, experienced, ambitious and talented group of people with a serious passion for kiteboarding. With that, the endless drive for constant innovation will never end.
The above news item is an adaptation of the press release provided by North Actionsports Group. Mystic B.V. enlisted the services of Marktlink Mergers & Acquisitions for the entire sale to North Technology Group. Part of the dedicated deal team for this transaction were Niek Derks, Laurence Hamilton and M&A lawyer Paul Schoenmakers.
Do you want to know more about mergers and acquisitions and all the ways Marktlink can serve you during these transactions? Then please contact one of our dealmakers at +31 (0) 20 470 93 74.
