Irving-based GSM Outdoors, a leading outdoor and consumer sporting good company with a portfolio of more than 50 brands, has been acquired by Platinum Equity from Gridiron Capital.

“The popularity of outdoor recreation is driving increased demand for a wide range of innovative, technically advanced products tailored for enthusiasts and adventure seekers of all kinds,” Platinum Equity Co-President Louis Samson said in a statement. “The sector is characterized by an attractive combination of resilience, growth potential and M&A opportunities, which suits our firm well.” 

Terms of the deal were not disclosed. It’s expected to be completed in the third quarter of this year.

Selling outdoor gear through a diverse mix of channels

GSM Outdoors equips customers with branded consumables, accessories, and high-quality gear for a variety of outdoor pursuits. It sells through a diverse mix of channels, including online retailers, sporting goods stores, mass merchants, outdoor product retailers, farm and fleet stores, and dealers and distributors across the U.S. and Canada.

“We believe GSM’s distribution network, experience bringing new products to market, rigorous quality control and care for its customers position it well to capitalize on those dynamics and diversify its portfolio to meet the growing demand,” Samson said.

He praised GSM’s leadership and culture as vital to its success.

“GSM is led by an experienced team of outdoor enthusiasts who are passionate about their mission and the products they bring to market,” Samson said. “We look forward to working with the management team to support a new phase of growth and expansion.”

The company said that GSM Outdoors CEO Eddie Castro will continue to lead it going forward.

“We’re proud of the company we’ve built and the success we have had, and now look forward to a new chapter,” Castro said in a statement. “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.”

Growth in the marketplace

Beverly Hills-based Platinum Equity’s managing director, David Glatt, said that GSM has shown great potential in the marketplace.

“Our work has proven out that GSM is highly regarded among consumers and channel partners for its customer service, diverse product portfolio and efficient operations,” Glatt said in a statement. “The company is an excellent platform for growth in a highly fragmented market and has proven to be an attractive home for brands looking to increase their reach and maximize their potential.”

Glatt said GSM Outdoors will continue investing in organic growth and M&A under Platinum Equity’s ownership.

“We will partner with the company to expand its offerings through in-house R&D and pursue the large and growing pipeline of prospective acquisitions in both existing product categories and new segments,” Glatt said. “We share the company’s passion for serving outdoor enthusiasts and are excited to get to work.”

Platinum Equity said it previously owned Fishing Holdings LLC, the Flippin, the Arkansas-based manufacturer of the Ranger Boats, Stratos and Triton fishing boat brands, which the firm sold to Bass Pro Group.

Financing for the GSM acquisition will be arranged via Bank of America Merrill Lynch, the company said.

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