Giuliani Partners, the consulting firm founded and chaired by Rudolph Giuliani, the former New York mayor, has become a strategic investor in CamelBak Products, the US sports goods company.

CamelBak Products specialises in the rucksack-type equipment used by marathon runners and skiiers for drinking water. Giuliani Partners, which teamed up with Bear Stearns to make the investment, said the equipment has a wide application in public safety since its water reservoir is resistant to chemical and biological agents.