Coghlan’s Ltd. Acquires McNett Corp.

Coghlan's Ltd., the leading outdoor accessory supplier in the U.S. and Canada, has completed the acquisition of McNett Corp., a provider of outdoor gear and accessories to recreation and defense industries.

The transaction combines two market leaders that supply care and repair
products and outdoor recreation accessories. Transaction terms were not
disclosed.

McNett Corp., with its 45 employees, will remain headquartered in Bellingham, WA, under the management team led by CEO Travis Huisman. McNett's European offices will remain unchanged and operating from Walsrode, Germany under the existing management team led by Managing Director Roy Whitehead. McNett's brands include Gear Aid, Outgo, M Essentials and McNett Tactical.

“Duane and Nancy McNett and the McNett team have built a great company over the past 35 years, very much the same way as Coghlan's has done, one item at a time,” said Rob Coghlan, president, Coghlan's. “We look forward to working with the McNett team on introducing new and expanded offerings to each market the company touches with its family of brands.”

“This transaction will enable McNett to continue to
grow and further serve our customers,” said Travis Huisman, CEO,
McNett. “I want to thank Mike Smith and his team at D.A. Davidson as
their industry knowledge and tireless efforts assisting us with this
transaction are greatly appreciated and resulted in a strong outcome.”

Founded in 1959 by Norm Coghlan, Coghlan's is a 100-percent family owned
enterprise based in Winnipeg, Manitoba Canada. It markets
and distributes over 485 accessories to over 30 countries throughout the
world.

D.A. Davidson & Co. served as financial advisor and Davis Wright Tremaine LLP served as legal advisor to McNett in this transaction.

“We
are privileged to have served as the exclusive financial advisor to
McNett in its sale to Coughlan’s,” said Mike Smith, managing director, D.A. Davidson. “This transaction combines two longtime, family-owned
businesses and allows for strong future growth as consumer outdoor
activity continues to explode.”