Platinum Equity said Tuesday that it closed its sale of Fishing Holdings, maker of the Ranger Boats, Stratos and Triton fishing boat brands, to Bass Pro Group LLC. Financial terms weren’t announced. Harris Williams & Co. advised Fishing Holdings.
LOS ANGELES, CA–(Marketwired – February 10, 2015) – Platinum Equity today announced that the sale of Fishing Holdings, LLC, the Flippin, Arkansas-based manufacturer of the Ranger Boats, Stratos and Triton fishing boat brands, to Bass Pro Group, LLC has been completed. Financial terms of the agreement were not disclosed.
Platinum Equity acquired Ranger Boats and Stratos as part of a larger portfolio of boat brands in February 2010 from Genmar Holdings, Inc., through a transaction conducted under Section 363 of the U.S. Bankruptcy Code. Triton was acquired from Brunswick in July 2010.
“Over the past five years we made good on our promise to provide the resources and support the business needed to grow,” said Platinum Equity Partner Louis Samson. “We are proud of the role we played in the evolution of these iconic fishing brands and of everything that was accomplished during our ownership.”
Mr. Samson credited Fishing Holdings President Randy Hopper and his executive team as well as the hard work of Fishing Holdings employees as key drivers of the company’s success.
Fishing Holdings was advised by Harris Williams & Co. in connection with the transaction. Latham & Watkins acted as deal counsel.
About Platinum Equity
Founded by Tom Gores in 1995, Platinum Equity is a global investment firm with more than $7 billion in assets under management and a portfolio of operating companies that generated approximately $15 billion in revenue in 2013. Platinum Equity specializes in mergers, acquisitions and operations — a trademarked strategy the firm calls M&A&O® — acquiring and operating companies in a broad range of business markets, including manufacturing, information technology, telecommunications, transportation and logistics, media, equipment rental, metals and other industries. Over the past 19 years Platinum Equity has completed more than 150 acquisitions.