Peak Rock Capital Portfolio Company, Lew’s, Acquires Strike King
AUSTIN, Texas (Nov. 6, 2017) - Lew's Holdings Corporation ("Lew's"), a portfolio company of Peak Rock Capital, a leading middle market private equity firm, announced today that it has acquired Strike King Lure Company ("Strike King"), a leading supplier of branded fishing lures, sunglasses, and other fishing accessories.
Founded in 1964, Strike King is an iconic brand in the fishing industry. The company's innovative product portfolio includes wire baits, hard and soft plastic lures, terminal tackle, sunglasses, and related fishing accessories. Headquartered in Collierville, Tennessee, Strike King benefits from an exceptional team of employees, pro staff, and manufacturing partners.
“This is a dream come true for me. To come back and win after a tough start kind of makes it even sweeter. I just kept telling myself that I had the right tools and I was around the right kind of fish. I just had to do my part. And this time, it all worked out.”
Peter Leibman, Managing Director of Peak Rock Capital, said, "We are thrilled to have the opportunity to invest in the combination of the Lew's and Strike King brands. The brands and product lines are highly complementary, and we're excited to further support the rapid growth of the overall company, while seeking additional acquisitions. I'd like to personally thank Lynn Reeves, Chairman of Lew's, for his help in introducing us to the Strike King management team."
Gary Remensnyder, CEO of Lew's commented, "Similar to Lew's, Strike King has been tremendously successful because of its focus on product innovation, outstanding marketing, and exceptional service to its retail partners and consumers. Lew's and Strike King share a common vision to provide cutting-edge products to anglers and best-in-class service to their retail partners. John Barns and Allan Ranson along with their dedicated employees, pro staff, and manufacturing partners have done a fantastic job driving growth at the company, and we are excited that John and Allan will remain involved with the company going forward."
As part of the transaction, Ken Eubanks will become President of Lew's while continuing in his current role as CEO of Hunters Specialties. Ken has almost 15 years of experience in outdoor related businesses, including, prior to Hunters Specialties, his role as Senior Vice President and General Manager, Americas for Pure Fishing.
MidCap Financial provided financing for the transaction.
ABOUT LEW'S HOLDINGS CORPORATION - Lew's Holdings Corporation is a Springfield, Missouri based outdoor consumer products company with a portfolio of brands, including Lew's, Strike King, Mr. Crappie, Hunters Specialties, and Buck Bomb. The company supplies branded fishing and hunting equipment and accessories through the mass market, sporting goods, and specialty outdoor channels.
ABOUT PEAK ROCK CAPITAL - Peak Rock Capital is a leading middle-market private equity firm that makes equity and debt investments in companies in North America and Europe. Peak Rock focuses on investing in opportunities where it can support senior management in driving rapid growth and profit improvement through operational and strategic change. Peak Rock's principals have deep expertise in complex situations and cross-border transactions, with the ability to provide tailored capital solutions and close transactions quickly where speed and certainty are priorities. For further information about Peak Rock Capital, please visit www.peakrockcapital.com.