GSM Exit Highlights Gridiron's Active
Lifestyle and Outdoor Enthusiast Thematic
NEW
CANAAN, Conn., July 23,
2024 /PRNewswire/ -- Gridiron Capital, LLC ("Gridiron
Capital"), an investment firm focused on partnering with founders,
entrepreneurs, and management teams, is pleased to announce the
signing of a definitive agreement to sell its controlling interest
in Good Sportsman Marketing Outdoors ("GSM," "GSM Outdoors," or the
"Company"), to Platinum Equity.
![(PRNewsfoto/Gridiron Capital, LLC) (PRNewsfoto/Gridiron Capital, LLC)](https://mma.prnewswire.com/media/1483412/Gridiron_Capital_Logo.jpg)
Headquartered in Irving, Texas,
GSM Outdoors is the industry-leading branded outdoor enthusiast
company with a diverse and growing portfolio of more than 50 rugged
outdoor brands. GSM provides a comprehensive range of consumable
accessories, gear, and subscription services, along with an
exceptional service model, making the Company the ultimate
one-stop-shop for both consumers and retail partners. GSM sells
through a diverse mix of channels, including online retailers,
sporting goods stores, mass merchants, outdoorsman retailers, farm
and fleet stores, and dealers and distributors across the United States and Canada.
"In 2020, Gridiron Capital partnered with Eddie Castro and the GSM management team to
build an industry-leading outdoor enthusiast platform. Over the
course of our partnership, GSM has grown significantly through
strategic expansions into fishing and other rugged outdoor
categories, while dramatically scaling the cellular and app
subscription business, completing 18 acquisitions of iconic brands,
and driving consistent organic growth through new product
development," said Gridiron Managing Partner, Kevin Jackson. "The GSM team's passion for
serving their customers and winning in the marketplace is
contagious, and we are incredibly proud to have been GSM's partner
during this exciting time. We are confident that GSM is positioned
for even greater success going forward."
GSM CEO Eddie Castro and the
entire management team will continue to lead GSM
post-transaction.
Eddie Castro commented, "Since
the first day, Gridiron has been a great partner in helping us
accelerate our M&A engine and expand GSM into new subscription
and outdoor categories. The Gridiron investment team and Centers of
Excellence have truly been value-added partners through this
exceptional growth phase for GSM."
"The GSM team have been incredible partners over the past few
years, and together, we have created the leading outdoor enthusiast
platform, poised for continued M&A consolidation, category
expansion, and organic growth. Rooted in a shared vision and
culture, our partnership with Eddie and his team has been a true
partnership in every sense of the word," said John Warner, Managing Director at Gridiron
Capital.
Robert W. Baird & Co. served as financial advisor to
GSM Outdoors and Gridiron. Finn
Dixon & Herling LLP served as legal counsel in
connection with the sale.
Financial terms of the transaction were not disclosed. The
acquisition is expected to close in Q3 2024.
About Gridiron Capital
Gridiron Capital is an
investment firm focused on partnering with founders, entrepreneurs,
and management teams, and creating value by building middle-market
companies into industry-leaders in branded consumer, B2B and B2C
services, and niche industrial segments in the United States and Canada. We help transform growing companies by
winning together through hard work, partnerships grounded in shared
values, and a unique culture that comes from hands-on experience
building and running businesses. As a team led by former operators
and entrepreneurs, we know what it takes to run successful
businesses on a day-to-day basis. Additional information is
available on the firm's website: www.gridironcapital.com.
Contacts
Gridiron Capital, LLC
Kevin Jackson
Managing Partner
kjackson@gridironcapital.com
John Warner
Managing Director
jwarner@gridironcapital.com
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SOURCE Gridiron Capital, LLC