Coghlan's Ltd acquired McNett Corp. in a deal that combines leading suppliers of gear maintenance and repair products and other outdoor recreation accessories from Canada and the United States. 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 also continue 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.”
This transaction will enable McNett to continue to grow and further serve our customers, said Huisman.
Founded in 1959 by Norm Coghlan, Coghlan's is a 100-percent family owned enterprise based in Winnipeg, Manitoba, Canada. It markets and distributes more than 485 accessories to more than 30 countries.
D.A. Davidson & Co. served as financial advisor and Davis Wright Tremaine LLP served as legal advisor to McNett in this transaction.
