Equip’s new chief executive pledges push into new territories

Stay informed with free updates

Simply sign up to the UK companies myFT Digest — delivered directly to your inbox.

The UK owner of outdoor brands Rab and Lowe Alpine has hired a former Berghaus executive as its new chief to turbocharge the growth of the brands. 

Richard Leedham, who has more than three decades of experience in the industry, will start as chief executive of Derbyshire-headquartered Equip Outdoor Technologies next month, the company said on Tuesday. 

Leedham told the Financial Times that the Rab and Lowe Alpine teams were “really ambitious”, adding there was appetite “to be better and to do more.”

He replaces Matt Gowar, who is stepping down as chief executive after 30 years growing the brands; Rab started life as a prototype sleeping bag made by adventurer Rab Carrington and has grown into one of the most recognisable manufacturers of outdoor gear in the world.

Leedham said he will focus on developing new products as well as expanding into new and existing markets, such as the US. 

“We’re still tiny in a lot of [countries],” he said. “There are some markets we’re not in at all.”

Many UK brands have struggled to grow internationally but Rab “is actually sort of breaking that mould”, he added, pointing to the brands’ “great heritage” and “impressive” performance.

Gowar, who is the majority owner of the business, will retain a place on the executive board. He will continue working on corporate social responsibility and supply chains, among other things. 

Equip is working with corporate finance advisers at Raymond James, who are supporting the group with its strategic decision-making, but Leedham insisted that neither Rab nor Lowe Alpine were up for sale. 

“I’m sure if somebody came along with a £1bn cheque book that would be a different conversation, but that’s not what I’ve been brought in to do,” he said. “It’s very much a several-year plan . . . to deliver quite an ambitious [growth] plan.”

The group could potentially look for acquisitions further down the line, he added. 

“If there are opportunities, we may look for that [ . . .] but [there is] nothing short- to medium-term that they’re working on.”