Sentinel Capital Partners has sold Irving, Texas-based GSM Outdoors, a provider of branded accessories for the hunting, sport shooting, and outdoor enthusiast markets. The buyer is Gridiron Capital LLC. No financial terms were disclosed.
NEW YORK, November 17, 2020 – Sentinel Capital Partners, a private equity firm that invests in promising lower midmarket companies, today announced the sale of GSM Outdoors, a leading provider of technologically-advanced, branded accessories for the hunting, sport shooting, and outdoor enthusiast markets. Terms of the deal were not disclosed.
Headquartered in Irving, Texas, GSM has a broad portfolio of innovative hunting and sport shooting products sold under highly recognized brand names. GSM’s industry leading brands include Walker’s (hearing protection and enhancement devices); Muddy, Hawk, and Big Game (tree stands and box blinds); Stealth Cam (technologically-advanced game scouting cameras); Birchwood Casey, SME, TekMat, GPS Bags, and CrossFire (shooting targets, holsters, range bags, and related accessories); HME, Skull Hooker, and Viking Solutions (hunting tools, mounts, and knives); Hunters Specialties and Western Rivers (scent attractants, scent control products, and game calls); Cyclops (specialty outdoor lighting); Boss Buck and American Hunter (game feeders); and NAP (broadheads and other archery accessories). GSM sells through a diverse mix of channels, including online retailers, sporting goods stores, mass merchants, outdoorsman retailers, farm and fleet stores, and distributors across the U.S. and Canada.
“Sentinel has been an extremely supportive partner during this dynamic period of growth for our company,” said GSM CEO Eddie Castro. “We are passionate about our brands, just like the customers and outdoor enthusiasts we serve. Innovation, acquisition and integration of new brands, and strong placement across multiple sales channels has given us the foundation for continued strong performance. We look forward to continuing our impressive growth trajectory.”
“It has been a privilege to partner with Eddie Castro and the rest of the GSM management team as they solidified GSM as the leader in the outdoor enthusiast industry,” said John Van Sickle, a partner at Sentinel. “In our two and a half years together, GSM executed a well conceived acquisition strategy that, combined with its product innovation and development capabilities, expanded GSM’s brand offering, grew its market share, and deepened its loyal customer base. GSM has even greater potential ahead, and all of us at Sentinel wish Eddie and his team continued success.”
Sentinel has made a number of investments in consumer enthusiast businesses like GSM. Other such investments include Holley (designer, manufacturer, and marketer of specialty automotive aftermarket performance products), Pet Supplies Plus (franchisor and operator of pet-specialty stores), and Spinrite (manufacturer and marketer of craft yarn products). Over the past 12 months, Sentinel has acquired ECM Industries (manufacturer and supplier of electrical products) and exited SONNY’S (manufacturer of conveyorized car wash systems).
About Sentinel Capital Partners
Sentinel specializes in buying and building lower midmarket businesses in the United States and Canada in partnership with management. Sentinel targets aerospace and defense, business services, consumer, distribution, food and restaurants, franchising, healthcare, and industrial businesses. Sentinel invests in management buyouts, recapitalizations, corporate divestitures, and going-private transactions of established businesses with EBITDA of up to $65 million. Sentinel also invests in special situations, including balance sheet restructurings and operational turnarounds. For more information about Sentinel, visit www.sentinelpartners.com.
About GSM Outdoors
Founded in 1999, GSM Outdoors specializes in developing and marketing innovative products for the hunting, sport shooting, and outdoor enthusiast market. GSM owns several industry-leading brands including Stealth Cam, Walker’s, Muddy, Hawk, Big Game, Birchwood Casey, SME, TekMat, GPS Bags, CrossFire, HME, Skull Hooker, Viking Solutions, Hunters Specialties, Western Rivers, Cyclops, Boss Buck, American Hunter, and NAP. GSM’s strong focus on innovation, product development, rigorous quality control, and customer support has earned it a reputation for delivering top quality outdoor gear backed by industry leading customer service. For more information, please visit http://www.gsmoutdoors.com.