Nancy Grimes was a trailblazing entrepreneur and outdoor gear innovator in the outdoor recreation industry in the 1970s. Together with Jim Heiden, she co-founded Banana Equipment, a company based in the area of Estes Park, Colorado, which became known for its bright, colorful, and durable backpacks and climbing gear.

Grimes stood out not only for her creative flair but also for her presence in a male-dominated industry. Under her leadership, Banana Equipment gained popularity among climbers and backpackers for its unique aesthetic, often using bold yellows and reds, and practical, lightweight designs. The company was among the first to utilize nylon materials and bright colors, helping to usher in a new era of outdoor gear that combined function with fun.

Banana Equipment was sold to Clermont Corporation in 1980, changing its name to Chinook Sports. Grimes continued as General Manager and Sales Manager until resigning in December 1981.