BHG Ventures, a private investment firm in Southfield, MI, has acquired Sportsman’s Guide and The Golf Warehouse. Terms of the deal were not disclosed.
Northern Tool + Equipment had acquired the businesses in 2012 from Redcats USA, a division of French company PPR, for $215 million.
With the acquisition, BHG Ventures said it plans to “capture the accelerating tailwinds within the fitness and recreation industry, particularly the growing demand for high-quality, easy-to-access sporting goods and equipment.”
“This is an exciting opportunity for our team and customers,” said Franz Weiglein, CEO of Sportsman’s Guide and The Golf Warehouse, in a statement. “A renewed focus on our companies will create exciting opportunities for our employees and bring additional investment and growth to enhance our customer experience. Our base of customers will benefit from the stability and investment of the next generation of our company’s ownership.”
Cascade Partners led the assessment and diligence and arranged the debt financing for this acquisition.
“These companies have been pioneers in the digital space, creating an extraordinary foundation from which to build,” said Rajesh Kothari, managing director, Cascade Partners. “BHG’s focus on the market segment will allow the companies to expand their offerings and geographic reach and meet customer needs even further.”
Sportsman’s Guide is an outdoor sporting goods and hunting accessories retailer based in St. Paul, MN. Since its founding in 1976, the company has been a supplier of outdoor sporting goods, hunting, fishing, camping gear, and accessories via SportsmansGuide.com.
The Golf Warehouse, based in Wichita, KS was founded in 1998 and has become an e-tailer offering consumers brand names and private label offerings in the golf, baseball and softball markets. Its websites include TGW.com, baseballsavings.com and softballsavings.com.
Photo courtesy Sportsman’s Guide
