Under Armour chief executive officer Kevin Plank is investing in Bustin Boards, a Maryland-founded skateboard company, through Sagamore Ventures, the investment arm of his private holding company.
Terms of the investment were not disclosed.
Originally founded and based in Hagerstown, Bustin Boards has office and retail space in New York City. Under the new partnership, the company headquarters and distribution center will move to City Garage, a Baltimore building owned by Sagamore Ventures that opened last year.
City Garage is designed as a space for entrepreneurs to grow their manufacturing businesses.
Bustin Boards was founded in 2001 by Ryan Daughtridge in his father's barn in Hagerstown, according to a news release by Plank Industries, the holding company.
Sagamore Ventures managing partner Demian Costa said in the release that the deal "was an opportunity to retain a great Maryland company" and prevent it from being acquired and moved overseas. No further information was available, a Plank Industries spokesperson said.