Editor’s note: For deeper analysis of this deal, click here to read our SGB Executive story, Behind The Deal: Why Exxel Outdoors Proceeded With Latest Acquisition.
Broomfield, CO-based Exxel Outdoors announced Tuesday it has completed the acquisition of Compass 360, an outdoor apparel and gear company. Financial terms of the deal weren’t disclosed.
Compass 360 produces performance wade-wear, outerwear, rainwear and camo-wear, for fishing, hunting, camping and other outdoor adventures.
“We’re delighted to welcome Compass 360 to the Exxel Outdoors family,” said Harry Kazazian, chair and CEO of Exxel. “The world is going through a lot of pain and uncertainty right now, and Exxel is working diligently as a team to get through this together. Although the timing is challenging, bringing Compass 360 into our brand collection demonstrates Exxel’s commitment to great outdoor recreation categories.”
Exxel’s brands include Kelty, Sierra Designs, Ultimate Direction, Hex, Slumberjack, SJK, Kelty Tactical, Wenzel, Insta-Bed, and X2O.
The addition of Compass 360 will help bolster Exxel’s ability to retain jobs at its Broomfield, CO, headquarters and Reno, NV, distribution center, as well as creating future paths for growth. The Compass 360 product assortment will join Exxel’s hunt/fish/camo business unit, complementing the company’s current brand offerings.
“We’re encouraged that fishing and camping both consistently rank in the Top Five most popular outdoor activities across all demographics, according to the latest Outdoor Industry Association study,” Kazazian said. “We’re investing for the long-run so that Exxel will be there for everyone when they’re able to get back to pursuing their outdoor passions.”
Kazazian has invited Paul Marks, the former owner of Compass 360 to join Exxel’s Board.
“All of us at Compass 360 could think of no better organization than Exxel Outdoors to continue to grow our brand for years to come,” said Marks. “Becoming a part of Exxel provides outstanding opportunities, allowing Compass to tap into their wider market reach and shared business resources, allowing us to develop more innovative gear options and faster service to our customers.”