Platinum Equity announced that the acquisition of GSM Outdoors from Gridiron Capital is final. CEO Eddie Castro will continue to lead the company. The company did not disclose the terms of the sale.

GSM Outdoors, headquartered in Irving, TX, owns over 50 outdoor brands. Gridiron Capital acquired GSM in 2020.

“GSM has an impressive distribution network, a lot of experience bringing new products to market, and a culture that prioritizes care for its customers,” said Platinum Equity Co-President Louis Samson. “We look forward to working with the management team to support a new phase of growth and expansion.”

Castro said, “We are dedicated to delivering the most innovative and high-quality gear to support our customers’ outdoor passions, pursuits, and success above all else. Platinum’s expanded access to capital, M&A resources and operational expertise can help further accelerate our growth and create more opportunities for GSM to serve our customers.”

Platinum Equity Managing Director David Glatt said investing in growth is a priority. “We believe GSM is an excellent platform in a highly fragmented market and has proven to be an attractive home for brands looking to increase their reach and maximize their potential,” said Glatt. “We will partner with GSM to continue expanding its offerings through in-house R&D and pursue prospective acquisitions in both existing product categories and new segments.”

Platinum Equity previously owned Fishing Holdings, LLC, the Flippin, AR-based manufacturer of the Ranger Boats, Stratos and Triton fishing boat brands, which the company sold to the Bass Pro Group. Other businesses in the active lifestyle space owned by Platinum Equity include Momentec Brands, the merged Augusta Sportswear Brands and Founder Sport Group businesses; Pelican Products, Jostens and Mad Engine. Past acquisitions include Elevate Textiles and Schutt Sports.

Bank of America Merrill Lynch arranged financing for the GSM acquisition. Latham and Watkins served as Platinum Equity’s legal counsel on the transaction.

Image courtesy GSM Outdoor