Castanea Partners announced that it has made an investment in Simms Fishing Products, headquartered in Bozeman, MT.
Founded in 1980 and acquired in 1993 by K.C. Walsh, its current owner and president, Simms offers a comprehensive line of high-performance fishing apparel, footwear and gear. Its premium fishing waders are produced domestically at Simms’ manufacturing facility in Bozeman. The company’s products, used by over 6,000 Simms-sponsored fishing professionals globally, are distributed through specialty retail stores both domestically and internationally, and directly to consumers through www.simmsfishing.com.
“Simms is singularly focused on delivering the most technically sound products to ensure that anglers of all types enjoy their best days on the water,” said Tim Burke, a partner at Castanea. “They are seen as an authority on fabric, performance, durability, and comfort. Simms’ brand is synonymous with quality. We look forward to working with K.C. and his team to build upon their success and to continue providing world-class products and services to their loyal and passionate group of customers.”
“When we decided to look for a partner to help us thoughtfully expand the Simms brand to the next level, we valued operational expertise as highly as financial capability,” added Walsh. “Castanea offered exactly what we were looking for in this respect, as their team has deep retail and operational expertise and a strong track record of building successful consumer packaged goods and apparel brands. Castanea also understands and respects the importance of our retail partners to the future development of our company. They will be a great partner to Simms and our industry.”
Baird Investment Banking represented Simms in the transaction.
Terms of the transaction were not disclosed.
Castanea Partners is a middle-market, consumer-focused private equity firm founded by operating executives and private equity professionals. The firm partners with promising, small and mid-sized consumer product and services brands, including companies in lifestyle apparel and accessories, beauty and personal care, food and beverage, and outdoor and leisure. It typically invests between $15 to $150 million of equity in businesses. Castanea has approximately $1 billion under management and is currently investing from a $600 million fourth fund.
Photo courtesy Simms
