PLATINUM EQUITY COMPLETES ACQUISITION OF GSM OUTDOORS

News provided by

Oct 01, 2024, 16:45 ET

LOS ANGELES, Oct. 1, 2024 /PRNewswire/ -- Platinum Equity announced today that the acquisition of GSM Outdoors from Gridiron Capital has been completed.

Headquartered in Irving, Texas, GSM Outdoors is a leading outdoor and consumer sporting goods company with a diverse, growing portfolio of more than 50 different brands.

The company equips its customers with branded consumables, accessories and high-quality gear for a variety of outdoor pursuits. It sells through a diverse mix of channels, including online retailers, sporting goods stores, mass merchants, outdoor product retailers, farm and fleet stores and dealers and distributors across the United States and Canada.

"GSM has an impressive distribution network, a lot of experience bringing new products to market, and a culture that prioritizes care for its customers," said Platinum Equity Co-President Louis Samson. "We look forward to working with the management team to support a new phase of growth and expansion."

GSM Outdoors CEO Eddie Castro will continue to lead the company going forward.

"We are dedicated to delivering the most innovative and high-quality gear to support our customers' outdoor passions, pursuits, and success above all else," said Castro. "Platinum's expanded access to capital, M&A resources and operational expertise can help further accelerate our growth and create more opportunities for GSM to serve our customers."

Platinum Equity Managing Director David Glatt said investing in growth will be a priority.

"We believe GSM is an excellent platform in a highly fragmented market and has proven to be an attractive home for brands looking to increase their reach and maximize their potential," said Platinum Equity Managing Director David Glatt. "We will partner with GSM to continue expanding its offerings through in-house R&D and pursue prospective acquisitions in both existing product categories and new segments."

Platinum Equity previously owned Fishing Holdings, LLC, the Flippin, Arkansas-based manufacturer of the Ranger Boats, Stratos and Triton fishing boat brands, which the firm sold to Bass Pro Group.

Financing for the GSM acquisition was arranged by Bank of America Merrill Lynch. Latham and Watkins served as legal counsel to Platinum Equity on the transaction.

Financial terms of the acquisition were not disclosed.

About Platinum Equity
Founded in 1995 by Tom Gores, Platinum Equity is a global investment firm with more than $48 billion of assets under management and a portfolio of approximately 50 operating companies that serve customers around the world. Platinum Equity specializes in mergers, acquisitions and operations – a trademarked strategy it calls M&A&O^® – acquiring and operating companies in a broad range of business markets, including manufacturing, distribution, transportation and logistics, equipment rental, metals services, media and entertainment, technology, telecommunications and other industries. Over the past 28 years Platinum Equity has completed more than 450 acquisitions.

Contacts:

Dan Whelan
Platinum Equity
[email protected]

SOURCE Platinum Equity