New GSM Outdoors owner pledges to maintain growth trajectory

GSM Outdoors – the fast-growing owner of more than 50 outdoor sports brands that include fishing’s Bill Lewis, Big Bite Baits, Buckeye Lures and Dobbyns Rods – has been sold to a global investment company.

Platinum Equity, the former owner of Fishing Holdings, the Arkansas-based manufacturer of fishing boat brands Ranger Boats, Stratos and Triton before its sales to Bass Pro Shops, has purchased the company from Gridiron Capital and promised to keep it on a growth trajectory.

“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,” said Platinum Equity Co President Louis Samson. “The sector is characterised 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 capitalise on the those dynamics to meet the growing demand.

“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.”

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.”

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.

“We share the company’s passion for serving the outdoor enthusiast and are excited to get to work.”