Platinum Equity Completes Acquisition of GSM Outdoors
Los Angeles-based Platinum Equity has announced that its 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.
