M&A Deal Summary

Platinum Equity Acquires GSM Outdoors

On July 23, 2024, private equity firm Platinum Equity acquired consumer products company GSM Outdoors from Gridiron Capital and WP Global Partners

Acquisition Highlights
  • This is Platinum Equity’s 6th transaction in the Consumer Products sector.
  • This is Platinum Equity’s 114th transaction in the United States.
  • This is Platinum Equity’s 8th transaction in Texas.

M&A Deal Summary
Date 2024-07-23
Target GSM Outdoors
Sector Consumer Products
Buyer(s) Platinum Equity
Sellers(s) Gridiron Capital
WP Global Partners
Deal Type Secondary Buyout

Target

GSM Outdoors

Irving, Texas, United States
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) 1

Buyer

Platinum Equity

Beverly Hills, California, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1995
PE ASSETS 48.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
Platinum Equity's headquarters in Beverly Hills, California.
Platinum Equity's headquarters in Beverly Hills, California.

Platinum Equity is a private equity firm focused on acquiring divestitures of larger public companies primarily in North America and Europe. Historically, Platinum targeted technology/software related businesses, however, the firm has since branched out beyond tech and will consider acquisitions in a broad range of industries including chemicals, communications, logistics, healthcare, automotive, industrial products, and business services. Platinum Equity was formed in 1995 by Tom Gores and is based in Beverly Hills, California.

DEAL STATS #
Overall 144 of 148
Sector (Consumer Products) 6 of 6
Type (Secondary Buyout) 39 of 41
State (Texas) 8 of 8
Country (United States) 114 of 116
Year (2024) 7 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-07-17 MARS

Hauppauge, New York, United States

MARS is a distributor of HVAC/R parts to authorized wholesalers and manufacturers in the United States and internationally. MARS was founded in 1946 and is based in Hauppauge, New York.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-07-30 BluRoc

Northampton, Massachusetts, United States

BluRoc provides single-source access solutions for even the most challenging terrain, providing permanent and temporary access roads for power line construction and other industries. BluRoc is based in Northampton, Massachusetts.

Sell -

Seller(S) 2

SELLER

Gridiron Capital

New Canaan, Connecticut, United States

Investor Investor Investor Investor Investor

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 18 of 19
Sector (Consumer Products) 4 of 5
Type (Secondary Buyout) 9 of 10
State (Texas) 2 of 2
Country (United States) 18 of 19
Year (2024) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-01-18 Legacy Service Partners

Tampa, Florida, United States

Legacy Service Partners is a provider of residential heating, ventilation, and air-conditioning (HVAC), plumbing, and electrical services. The company offers entrepreneurs and business owners in the home service sector the ability to realize immediate financial value for the companies they've built while partnering to continue to grow their businesses long into the future. Legacy Service Partners was formed in 2021 and is based in Tampa, Florida.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-09-04 Foundation Wellness

Wadsworth, Ohio, United States

Foundation Wellness is a specialty designer and manufacturer of branded and private label orthotic solutions, including footbeds/insoles, foot care products, orthopedic braces, sports support, and ergonomic safety products. Foundation Wellness was founded in 1934 and is based in Wadsworth, Ohio.

Sell -
SELLER

WP Global Partners

Investor Investor Investor Investor Investor

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 3 of 4
Sector (Consumer Products) 1 of 1
Type (Secondary Buyout) 1 of 1
State (Texas) 1 of 1
Country (United States) 3 of 4
Year (2024) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-10-30 Systems Control

Iron Mountain, Michigan, United States

Systems Control provides engineering and manufacturing of equipment enclosures and control and relay panels used in electrical transmission and distribution substations across North America. Systems Control was founded in 1962 and is based in Iron Mountain, Michigan.

Sell $1.1B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-10-22 SmartSky Networks

Morrisville, North Carolina, United States

SmartSky Networks is a producer of disruptive communications technologies for the aviation industry. SmartSky Networks was founded in 2011 and is based in Morrisville, North Carolina.

Sell -
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