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  Pete Fox - Shop-eat-surf file photo

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  Scott Olivet - Shop-eat-surf file photo

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  A Fox store in Florida - Shop-eat-surf file photo

Altamont Capital Partners and Pete Fox have prevailed in their bid for Fox Head Inc., Shop-eat-surf learned today.

The deal was announced a town hall meeting at Fox headquarters in Irvine, California, Tuesday morning.

Altamont prevailed over Lion Capital, which aggressively pursued acquiring Fox.

With the sale, Fox executive management will change.

CEO Nick Adcock, who took over when Pete Fox stepped down in February of this year, departs the company.

CFO Bill Bussiere has been named CFO for Billabong Americas, according to Billabong CEO Neil Fiske.

“We are happy to have someone of Bill’s experience and skill on our team,” Neil told Shop-eat-surf on Tuesday morning, during the first day of the Billabong Pipe Masters contest on the North Shore.

VF Corp. had earlier expressed interest in Fox, but dropped out.

Altamont has made several acquisitions and investments recently in the industry, including transactions with Dakine, Mervin, Huf and Brixton.

Altamont operating partner Scott Olivet is the point man for Altamont in these transactions.

We’ll have more details to come.