Lew’s and Strike King sold to New Ownership Group
Lew’s Holdings Corporation and BDT Capital Partners Announce Partnership
LEXINGTON, S.C. (June 5, 2019) – Lew’s Holdings Corporation (“Lew’s”), a leader in the U.S. fishing equipment market, today announced that it has partnered with BDT Capital Partners (“BDT”), a merchant bank that provides family- and founder-led businesses with long-term, differentiated capital. BDT will be makinga majority investment in the company to fund its next phase of growth. Following this transaction, Peak Rock Capital and its affiliates will exit their investment. Headquartered in Lexington, South Carolina, 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 HSR and other 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. According to the Outdoor Foundation, sports fishing represents one of the most popular outdoor recreational activities in the U.S., ahead of biking, tennis and golf, with an estimated 49 million participants.
“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 Ken Eubanks, CEO of Lew’s Holdings Corporation. “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.”
“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.”
About Lew’s Holding Corporation
Lew’s Holdings Corporation is an outdoor consumer products company with a portfolio of brands, including Lew’s Fishing, Strike King Lures and Hunters Specialties. Based in Lexington, South Carolina, the Company supplies branded fishing equipment and accessories through the mass market, sporting goods, and specialty outdoor channels. For further information about these brands, please visit www.lews.com,www.strikeking.comand www.hunterspec.com.
About BDT Capital Partners
BDT Capital Partners provides family- and founder-led businesses with long-term, differentiated capital. The firm has raised more than $15 billion across its investment funds and has created and manages an additional $4.7 billion of co-investments from its global limited partner investor base. The firm’s affiliate, BDT & Company, is a merchant bank that works with family- and founder-led businesses to pursue their strategic and financial objectives. BDT & Company provides solutions-based advice and access to a world-class network of business owners and leaders.