The parent company of Lew's and Strike King has been acquired in a deal between two private equity firms.
According to a release circulated today announcing the transaction, BDT Capital Partners has acquired a majority stake in Lew's Holdings Corporation from Peak Rock Capital "to fund its next phase of growth."
BDT is based in Chicago and provides family- and founder-led businesses with long-term, differentiated capital.
“We’re excited to partner with Lew’s and support the growth of their leading fishing and outdoors brands,” said Tiffany Hagge, managing director at BDT Capital Partners. “Led by industry veterans, Lew’s has a strong following among avid and enthusiastic anglers, a broad distribution network, high-quality products and an impressive innovation track record. Our investment in the company represents an opportunity to partner with an outstanding management team in a growing and dynamic industry. We view this as an attractive platform investment in a sector with significant opportunity for organic growth and consolidation, given the number of founder- and family-owned companies in this expanding category.”
Headquartered in Lexington, S.C., Lew’s will continue to be led by the current CEO Ken Eubanks and the existing management team. The transaction is anticipated to close in the next several weeks, subject to customary closing conditions. Additional terms of the partnership were not disclosed.
Lew’s has grown into a leading fishing equipment and outdoor consumer brand along with the acquisitions of several iconic founder- and family-owned businesses, including Strike King and Hunters Specialties. The partnership with BDT will help accelerate the company’s growth, further enhancing its product innovation and branded fishing equipment offerings.
“We are thrilled that BDT Capital Partners will continue to support Lew’s as a long-term partner in its continued growth. With their expertise and support, we’ll have the resources to further invest in the company’s strategy to provide product innovation for consumers and industry-leading retail support and service,” said Eubanks. “BDT brings a long-term focus and extensive experience partnering with and growing iconic brands like ours that have historically been family and founder-owned. They share our values, and their support will be invaluable as we look to continue to drive growth both organically and through acquisitions.”