Crosman Corporation, a manufacturer of airguns and airsoft guns, has been acquired by Wellspring Capital Management, LLC, a New York-based private equity firm.
Crosman's management team, led by CEO Ken D'Arcy, will retain a significant ownership position in the company and continue to lead its growth in partnership with Wellspring. Financial terms of the transaction were not disclosed.
Crosman, based in Bloomfield, NY, serves over 500 retail and distribution accounts that sell its products through more than 10,000 locations worldwide.
Crosman had been owned by Pamlico and the company's management since 2007. William Dawson, Jr, a managing partner of Wellspring, called the acquisition a “unique opportunity to invest in a platform with a strong and established brand and significant growth potential through internal initiatives and acquisition.”
