GSM Outdoors, the parent company behind brands such as Bill Lewis Lures, Steelshad, Dobbyns Rods, Big Bite Baits, and Buckeye Lures, has been sold to a private equity firm.
Platinum Equity, the company that purchased GSM Outdoors, has been involved in the fishing space before. They previously owned Fishing Holdings, the Arkansas-based manufacturer of fishing boat brands Ranger Boats, Stratos and Triton before its sale to Bass Pro Shops. Platinum Equity says that it will continue to grow GSM Outdoors.
“GSM is led by an experienced team of outdoor enthusiasts who are passionate about their mission and the products they bring to market. We look forward to working with the management team to support a new phase of growth and expansion,” said Platinum Equity Co President Louis Samson.“The popularity of outdoor recreation is driving increased demand for a wide range of innovation and technically advanced products tailored for enthusiasts and adventure seekers of all kinds. The sector is characterized by an attractive combination of resilience, growth potential and merger and acquisition opportunities, which suits our firm well”
“We believe GSM’s distribution network, experience in bringing new products to market, rigorous quality control and care for its customers position it well to capitalize on those dynamics to meet the growing demand.
Platinum Equity Managing Director David Glatt said GSM Outdoors will continue to invest in organic growth and M&A under the new ownership. “We will partner with the company to expand its offering through in-house R&D and pursue the large and growing pipeline of prospective acquisitions in both existing product categories and new segments.
GSM Outdoors CEO Eddie Castro, who will continue to lead the company, said: “We are proud of the company we have built and the success we have had and now look forward to a new chapter. 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.”
“We are proud of the company we’ve built and the success we have had, and now look forward to a new chapter,” 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.”
