What Boards & More does

Boards & More Group, formed in 2000 through the merger of Mistral, F2 and Fanatic and headquartered in Austria with a German GmbH legal entity, is a privately-held holding company that designs, develops, tests, and distributes sports equipment under five main brands: Fanatic (windsurfing boards, stand-up paddleboarding, wing foiling), Duotone (kiteboarding, windsurfing rigs, wingfoiling, apparel), ION (neoprene wetsuits, harnesses, water accessories, plus bike wear and MTB protection), SQlab (ergonomic cycling products, acquired 2021), and WOO (wing-foiling accessories). The group describes itself as the world leader in kiteboarding, windsurfing, and wing & foiling, with products tested internally and validated by external pro riders before market release.

The company generated €113 million in turnover in its 2025 short facts with 306 staff members, serving 2,602 retailers across 99 countries. Its go-to-market combines a direct-to-consumer e-commerce presence in EUR, USD, CHF and GBP, a dedicated B2B portal (elasticb2b.boards-and-more.com), and a wide global retailer network. Regional market entities include Boards & More INC (USA, founded 2016) and a Brazil office (opened 2018). The revenue model is hardware sales of sports equipment and apparel, with no disclosed pricing model.

Customer segments are predominantly recreational and professional water-sports enthusiasts (kiteboarding, windsurfing, wingfoiling, SUP) and mountain-biking and cycling consumers, served through both the global retailer network and own-brand DTC channels. There is no public listing, no identified parent company, and no recorded venture or private-equity funding; growth has been financed organically and through strategic brand acquisitions. Leadership is headed by CEO and Managing Director Eberle Till.

Name

Boards & More

Legal name

Boards & More GmbH

Website

https://boards-and-more.com

Company type

Private

Founded year

2000

Operating status

Operating

Headcount range

101–250 employees

Short description

Boards & More Group is a privately-held Austrian holding company that designs, develops, and distributes premium water-sports and cycling equipment under five brands (Fanatic, Duotone, ION, SQlab, WOO), serving 2,602 retailers in 99 countries with €113M in turnover and 306 employees.

Ownership category

akta.pro rank

Product category

Water Sports Equipment

NAICS

Sporting Goods Retailers (45911), Sporting and Recreational Goods and Supplies Merchant Wholesalers (42391), Sporting Goods, Hobby, and Musical Instrument Retailers (4591)

SIC

Sporting & Athletic Goods, Nec (3949)

akta.pro primary industry

Water Sports Equipment Retail (Wake, Ski, Tow, Tubes) (CRAMAIAC)

akta.pro secondary industries

Surf & Beach Sports Retail (Surfboards, Bodyboards, Skimboards) (CRAMAIAE), Paddling & Packrafting Gear Retail (CRAMAAAL)

Keywords

• Water sports equipment
• Kiteboarding gear
• Windsurfing boards
• Mountain biking apparel
• Stand up paddleboards

Headquarters

HQ city

Molln

HQ country

Austria

HQ region

Europe

Markets served

GTM type

B2C

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Personnel, Operations, Marketing or Sales, Technology or R&D

Revenue model

1. Sports Equipment and Apparel Sales: Boards & More Group generates revenue through the design, development, and distribution of sports equipment and apparel under five main brands: Fanatic, Duotone, ION, SQLab, and WOO. Product categories include boards (kiteboarding, windsurfing, wingfoiling, SUP), bike wear, MTB shoes, protection gear, and water sports accessories such as neoprene wetsuits and harnesses.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

Boards & More Group is a holding company that designs, develops, tests and distributes sports equipment for kiteboarding, windsurfing, wing & foiling, stand up paddleboarding and mountain biking through five owned brands: Duotone, Fanatic, ION, SQlab and WOO. The company sells boards, wetsuits, harnesses, bike wear, MTB shoes, protection gear and water sports accessories through direct-to-consumer regional e-commerce stores, a dedicated B2B shop and a global network of 2,602 retailers across 99 countries.

Product overview

Boards & More Group is a holding company that designs and delivers sports equipment in stand up paddleboarding, mountain biking, kiteboarding, windsurfing, and wing & foiling. The portfolio consists of five main brands: Duotone (kiteboarding, wingfoiling, windsurfing rigs), Fanatic (windsurfing boards, SUP boards), ION (neoprene wetsuits, harnesses, water accessories, bike wear), SQlab (cycling ergonomics - acquired 2021), and WOO. The company operates across 99 countries, serving 2602 retailers with a turnover of 113 million euros and 306 staff members. Products are developed with input from pro riders and tested in toughest conditions before market release.

Differentiator

Problem solved

Functional benefit

Brands

• Duotone: Brand for kiteboarding products, windsurfing rig products, and apparel. 100% owned by Boards & More Group since 2018.
• Fanatic
• ION
• SQlab
• WOO

Products and services

• Kiteboarding Equipment Kiteboards, kites and related kiteboarding gear developed and distributed under the Duotone brand for professional kiteboarders and enthusiasts.
• Windsurfing Boards Windsurfing boards designed and marketed under the Fanatic brand, in which Boards & More Group holds world market leadership.
• Stand Up Paddle (SUP) Boards Stand Up Paddle boards for both SUP surfing and distance Stand Up Paddling, produced under the Fanatic brand.
• Wing Foiling Equipment Wing foiling boards and wing components combining elements from surf foiling, windsurfing and kitesurfing, marketed under the Duotone and Fanatic brands.
• Neoprene Wetsuits Neoprene wetsuits produced under the ION brand, essential gear for water sports activities.
• Water Sports Harnesses Harnesses for water sports produced under the ION brand.
• Mountain Biking Gear High quality mountain biking products including bike wear, MTB shoes and protection gear distributed under the ION brand.
• Ergonomic Cycling Components Ergonomic cycling products (saddles, grips, innerbarends and other bike fitting components) marketed under the SQlab brand, the market leader for ergonomics in cycling.
• Water Sports Accessories Pioneering water sports accessories including neoprene items, harnesses and other essentials produced under the ION brand.

Quantifiable outcome

• 99 countries delivered to globally
• +1 more outcomes

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators5 records

Recent moves9 records

Expansion highlights6 records

Broad incumbents

• O'Neill: Iconic water sports apparel and wetsuit brand with broader consumer reach than ION. Competes across ION's neoprene and water accessories category while also serving surf and broader lifestyle segments.
• Billabong: Global surf and water sports lifestyle brand. Overlaps with ION and Fanatic in surf-adjacent apparel and accessories, though Billabong operates at much larger scale and broader lifestyle positioning.

Direct peers

• Mystic: Dutch maker of wetsuits, harnesses and water sports apparel. Directly comparable to ION in neoprene and harness products for kiteboarding, windsurfing and wingfoiling.
• Starboard: Thai-based windsurfing, SUP and foil brand. Direct competitor to Fanatic and Duotone in board sports, with a similar focus on innovation and pro-rider-driven product development.
• Neil Pryde: Long-established windsurfing rig and board brand. Competes with Duotone in windsurfing rigs and with Fanatic in windsurfing boards — a directly overlapping premium product portfolio.
• Naish International: Hawaii-based maker of kiteboarding, windsurfing, SUP and wingfoiling equipment. Direct multi-sport competitor to Fanatic and Duotone across overlapping board sports categories.
• North Action Sports Group: Major competitor in kiteboarding and wingfoiling equipment under North Kiteboarding and North Sails brands. Directly overlaps Boards & More's Duotone/Fanatic portfolio in the same sports and channels.
• JP Australia: Australian/German windsurfing and SUP board manufacturer. Directly competes with Fanatic in windsurfing boards and SUP, sharing the same retail and distributor channels.
• Cabrinha: Specialist kiteboarding equipment brand competing head-to-head with Duotone in kites, boards and foil components. Closely comparable product mix, customer base, and pro-athlete-led go-to-market.

Emerging players

• SQlab (pre-acquisition benchmark): Listed separately to flag the inherent comparability challenge: SQlab is now part of Boards & More. As a stand-alone ergonomic cycling brand, it competed with Ergon and other bike-fit specialists — useful for sizing the cycling adjacency inside the group.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/watch?v=OkXa5lifHAU
• LinkedInlinkedin.com/company/boards-more-gmbh

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries6 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Boards & More