M&A Deal Summary

Gridiron Capital and WP Global Partners Acquire GSM Outdoors

On November 17, 2020, private equity firm Gridiron Capital and asset manager WP Global Partners acquired consumer products company GSM Outdoors from Sentinel Capital Partners and Yukon Partners

Acquisition Highlights
  • This is Gridiron Capital’s 7th and WP Global Partners’ 1st transaction in the Consumer Products sector.
  • This is Gridiron Capital’s 31st and WP Global Partners’ 11th transaction in the United States.
  • This is Gridiron Capital’s 3rd and WP Global Partners’ 3rd transaction in Texas.

M&A Deal Summary

Date 2020-11-17
Target GSM Outdoors
Sector Consumer Products
Buyer(s) Gridiron Capital
WP Global Partners
Sellers(s) Sentinel Capital Partners
Yukon Partners
Deal Type Secondary Buyout
Advisor(s) Robert W. Baird & Co., Inc. (Financial)

Target

GSM Outdoors

Irving, Texas, United States
website
GSM Outdoors specializes in developing and marketing innovative products for the hunting, sport shooting, and rugged outdoor enthusiast market. GSM owns 20+ industry-leading brands including stealth cam, walker’s, muddy outdoors, birchwood casey, hawk, cyclops, western rivers, american hunter, HME, and SME among others. 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. GSM Outdoors was founded in 1999 and is based in Irving, Texas.

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Buyer(S) 2

Buyer

Gridiron Capital

New Canaan, Connecticut, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2004
PE ASSETS 764M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Gridiron Capital is a private equity firm focused on acquiring mid-sized North American manufacturing, service and specialty consumer companies. Gridiron looks to commit companies with EBITDA up to $60 million. The Firm prefers controlling interests when considering transactions. Situations of interest include companies operating in sectors undergoing change, closely held companies owned by founding family or management for ownership transition, and corporate divestitures of orphaned or non-strategic business units. Gridiron Capital was formed in 2004 and is based in New Canaan, Connecticut.


DEAL STATS #
Overall 31 of 38
Sector (Consumer Products) 7 of 8
Type (Secondary Buyout) 11 of 14
State (Texas) 3 of 4
Country (United States) 31 of 38
Year (2020) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-10-06 Cubii

Chicago, Illinois, United States

Cubii is a manufacturer of fitness equipment and approachable wellness solutions. Cubii help people create and maintain healthy habits by providing innovative, effective, and accessible fitness solutions that fit easily into everyday life. Cubii is based in Chicago, Illinois.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-08 Class Valuation

Troy, Michigan, United States

Class Valuation is a provider of real estate asset valuation and appraisal management solutions to the residential mortgage industry. Class Valuation is based in Troy, Michigan.

Buy -
Buyer

WP Global Partners

Investor Investor Investor Investor Investor

website


Category Asset Manager
Founded 2005
PE ASSETS 6.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

WP Global Partners is an asset management firm that looks to offer clients exposure to private equity, venture capital, and private debt investments through research based investment programs. Within private equity, WP looks to invest $5 to $25 million in recurring revenue oriented businesses valued up to $500 million. WP Global Partners was formed in 2005 and is headquartered in Chicago, Illinois.


DEAL STATS #
Overall 11 of 17
Sector (Consumer Products) 1 of 1
Type (Secondary Buyout) 2 of 3
State (Texas) 3 of 3
Country (United States) 11 of 17
Year (2020) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-10-15 Powerhouse

Crowley, Texas, United States

Powerhouse is a provider of high-volume, multi-site rollouts, and refreshes, as well as recurrent facilities maintenance services. Powerhouse has primarily served customers in the food service, retail, and hospitality segments and is expanding in the financial and healthcare sector. Powerhouse was founded in 1996 and is based in Crowley, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-28 REMEDI8

Lenexa, Kansas, United States

REMEDI8 operates two divisions compliance services, which provides essential inspection and repair of fire and smoke doors, dampers, barriers, and complementary services to hospitals and other healthcare facilities and new build services, which provides planning, budgeting, consulting, and installation of thermal and moisture protection with a focus on data centers, education and commercial facilities. REMEDI8 was founded in 2008 and is based in Lenexa, Kansas.

Buy -

Seller(S) 2

SELLER

Sentinel Capital Partners

New York, New York, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1995
PE ASSETS 6.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Sentinel Capital Partners is a private equity firm that targets investments in middle-market companies with strong management and 'attractive growth prospects'. Sentinel looks to invest up to $175 million of equity in companies generating EBITDA of up to $65 million. Sectors of interest include business services/outsourcing, consumer products and services, food and restaurants, franchising, and manufacturing. Prospective transaction situations include management buyouts, recapitalizations, corporate divestitures, take-privates, and growth capital financings. Sentinel Capital Partners was formed in 1995 and is based in New York City.


DEAL STATS #
Overall 57 of 69
Sector (Consumer Products) 5 of 6
Type (Secondary Buyout) 25 of 30
State (Texas) 4 of 5
Country (United States) 51 of 62
Year (2020) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-11-01 Marketplace Events

Solon, Ohio, United States

Marketplace Events (fka: Dmg world media co.) produces 38 consumer home shows in 27 markets across North America that collectively attract 14,000 exhibitors, one million attendees and nearly another one million unique web visitors annually.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-25 Pet Supplies Plus

Livonia, Michigan, United States

Pet Supplies Plus is a pet specialty retailer in the United States by total system sales, providing a wide variety of pet food, treats, hard goods and services for dogs, cats, and small animals. Pet Supplies Plus was founded in 1988 and is based in Livonia, Michigan.

Sell $700M
SELLER

Yukon Partners

Minneapolis, Minnesota, United States

Investor Investor Investor Investor Investor

website


Category Mezzanine Finance Firm
Founded 2008
PE ASSETS 640M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Yukon Partners is a mezzanine finance firm that works with private equity sponsors to fund a variety of investment situations. Yukon looks to invest $10 to $40 million to support buyouts, recapitalizations, take privates, and refinancings. Sectors of interest include automotive, building products, business services, consumer products, food/beverages, healthcare products/services, industrial manufacturing, niche manufacturing, and transportation/logistics. Prospective companies generally have revenues of $30 to $500 million and are profitable with EBITDA of $5 to $50 million. Yukon Partners was formed in 2008 and is based in Minneapolis, Minnesota.


DEAL STATS #
Overall 17 of 28
Sector (Consumer Products) 2 of 2
Type (Secondary Buyout) 9 of 17
State (Texas) 3 of 3
Country (United States) 17 of 27
Year (2020) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-01-21 Lakeshirts

Detroit Lakes, Minnesota, United States

Lakeshirts is a designer, manufacturer, and value-added distributor of customized apparel and provides merchandising solutions to the resort and college-licensed apparel and accessories markets. The Company collaborates with its specialty retailer customers to develop and supply attractive, unique products for markets where consumer demand is driven by impulse and emotional connection to an experience. Lakeshirts was founded in 1984 and is based in Detroit Lakes, Minnesota.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-01 48forty Solutions

Alpharetta, Georgia, United States

48forty Solutions is a whitewood pallet recycler recycling over 90 million pallets annually across its network of 73 company locations and more than 225 network facilities. 48forty serves over 2,700 customers, including manufacturers, distributors, and retailers in the distribution & logistics, food & beverage, packaging, durables, and non-durables industries. 48forty Solutions was formed in 1992 and is based in Alpharetta, Georgia.

Sell -