Bushnell Outdoor Products Announces Agreement to Acquire Primos
April 17, 2012
Overland Park, Kansas, April 17, 2012 -
Bushnell Outdoor Products, a worldwide leader in sports optics, premium eyewear, and outdoor accessories and MidOcean Partners, a leading middle market private equity fund, announced today that Bushnell has agreed to terms to purchase Primos Hunting of Flora, Miss. The companies expect to complete the transaction (terms not disclosed) within 30 days.
With the introduction of handmade calls in 1976, Wi|l Primos established a brand that is now among the most well known in the hunting industry. With more than 35 years of experience developing some of the industry’s leading game calls, today the Primos product line also includes blinds, scant eliminators, game scents and attractants, and a variety of other hunting gear including trail cameras, decoys, hunting apparel and game-specific gear. Primos is a well respected brand with great tradition in the hunting market, and will be a tremendous complement to our outdoor accessory business, said Blake Lipham, Bushnell Outdoor Products president and CEO.
This acquisition will help further the breadth of our offering to the hunting consumer and provide the Primos brand with additional resources to pursue new product introductions and expanded market opportunities. We expect the Primos facilities in Flora and Brookhaven, Miss., to continue operations and we will stay focused on continuing to deliver outstanding service levels to our customers throughout the integration of our businesses. I am very proud of what the team at Primos has accomplished, said Will Primos. We are passionate about hunting, and have worked hard to develop high quality, affordable products that enhance the hunting experience. Joining the Bushnell family gives us an exciting opportunity to further this mission and continue our track record of success.
MidOcean Partners acquired Bushnell in Aug. 2007 and has added several complementary brands to the company’s portfolio during the last five years, including acquisitions of Millett and Simmons In 2008, Cébé in 2009 and Night Optics USA in 2011. Bringing Primos into the Bushnell family of brands is a continuation of our goal to grow the company through strategic acquisitions. Bushnell and Primos have synergistic product offerings and share a great reputation with their retail partners and the hunting consumer. This combination makes for a very formidable force in the outdoor industry, said David Basto, MidOcean Partners Managing Director.
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Bushnell Outdoor Products is a global manufacturer and marketer of branded consumer products based in Overland Park, Kansas. Bushnell Outdoor Products sells its products worldwide under the Bushnell, Tasco, Serengeti, Bolle, Uncle Mike’s Law Enforcement, Stoney Point, Hoppe, Blackwater Gear, and Butler Creek brand names. Additional information about Bushnell is available at www.bushnell.com.
About MidOcean Partners
MidOcean Partners is a premier New York-based alternative asset manager specializing in middle-market private equity and alternative credit investments. Since its inception in 2003, MidOcean Private Equity has targeted investments in high-quality middle-market companies in the consumer and business services sectors. MidOcean Credit was launched in 2009 and currently manages a series of alternative credit strategies, collateralized loan obligations (CLOs), and customized separately managed accounts.
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