Tactical Holdings and its equity partner, Golden Gate Capital, late last week completed an investment in Massif Mountain Gear Company. Massif manufactures and sells flame resistant performance technical apparel in the United States. Its primary customers are wilderness firefighters, park rangers, and the U.S. armed forces. Silver Steep Partners served as the exclusive financial advisor to Massif.
“This relationship will help us accelerate our growth initiatives, while also maintaining the technical and product leadership that has defined our organization,” said Jeff Roberts, Massif Co-Founder and Chief Executive Officer.
“This relationship will help us accelerate our growth initiatives, while also maintaining the technical and product leadership that has defined our organization,” said Jeff Roberts, Massif Co-Founder and Chief Executive Officer.
This deal could be a signal of two distinct new trends in the outdoor industry. First, military sales have always been a part of many outdoor specialty companies business plans, but it was always done behind closed doors. More recently, several core outdoor companies have taken more pride in their dealings with the U.S. armed forces.
The second front focuses on the financial nature of the deal and the deal-making environment. Most deals in the outdoor sector that have closed since the economic crisis started have more of a “fire sale” than a truly strategic buy. Smaller brands were feeling the credit crunch and needed additional capital to survive. While terms of the transaction were not disclosed, sources close to the deal said that the acquisition of Massif was much more strategic in nature and clearly not a fire sale.
