Bruckmann, Rosser, Sherrill & Co. (BRS), a New York-based private equity firm, has acquired New Archery Products Corp. (NAP) and Quikfletch LLC (Quikfletch) from NAP's founder Andy Simo and other Quikfletch stockholders. The acquisition was made through BRS Outdoor Sports Holdings LLC, which also owns Gamo Outdoors, the manufacturer of high-quality airguns and other outdoor accessories.
Financial terms of the transaction were not disclosed. Other shareholders of BRS Outdoor Sports include Frist Capital, LLC, Bixby Bridge Capital, LLC, Swift River Investments and Quilvest Private Equity.
Founded in 1971 and based in Forest Park, IL, NAP and Quikfletch are leading designers and manufacturers of fixed and mechanical broadheads, vanes and fletching and other archery related accessories. NAP's array of products can be found at mass merchants, sporting goods retailers and dealers throughout the country. NAP differentiates itself through its proprietary manufacturing and patented designs, resulting in the highest-quality broadheads in the market.
Stephen Sherrill, co-founder and Managing Director of BRS, said, “We are very excited to build on the accomplishments of the NAP team in creating a highly reputable brand of innovative products with a dedicated customer base. We look forward to strengthening the Company's focus on product development and its position in the archery market.”
Andy Simo said, “We are very pleased for BRS Outdoor Sports and Gamo to be involved with the next chapter of growth for NAP. I am confident that the Company will continue its successful track record due to their extensive experience in the outdoor sector and ability to provide valuable strategic guidance.”
Semanoff Ormsby Greenberg & Torchia, LLC acted as legal advisor to BRS and VR Lakes Business Group Inc. acted as the financial advisor to NAP.
