News

Gridiron Capital, an investment firm known for partnering with founders, entrepreneurs, and management teams, has announced a definitive agreement to sell its controlling interest in Good Sportsman Marketing Outdoors ("GSM Outdoors") to Platinum Equity. 

GSM Outdoors, headquartered in Irving, Texas, is a leader in the outdoor enthusiast industry, boasting a diverse portfolio of over 50 rugged outdoor brands.

Kevin Jackson, Managing Partner at Gridiron, highlighted the growth and strategic expansion GSM has achieved since partnering with Gridiron in 2020. "Over the course of our partnership, GSM has grown significantly through strategic expansions into fishing and other rugged outdoor categories, while dramatically scaling the cellular and app subscription business, completing 18 acquisitions of iconic brands, and driving consistent organic growth through new product development," said Jackson. He expressed pride in GSM's accomplishments and confidence in the company's future success under new ownership.

Eddie Castro, CEO of GSM, will continue to lead the company post-transaction. Castro praised Gridiron's support in accelerating GSM's mergers and acquisitions and expanding into new markets. "Since the first day, Gridiron has been a great partner in helping us accelerate our M&A engine and expand GSM into new subscription and outdoor categories," Castro commented.

John Warner, Managing Director at Gridiron Capital, also remarked on the successful partnership, emphasizing the shared vision and culture that helped create a leading platform in the outdoor enthusiast sector.

The financial terms of the deal were not disclosed. The transaction is expected to close in the third quarter of 2024. Robert W. Baird & Co. acted as the financial advisor, and Finn Dixon & Herling LLP provided legal counsel for the sale.

About 

Gridiron Capital is an investment firm dedicated to building middle-market companies into industry leaders in branded consumer, B2B and B2C services, and niche industrial segments in the United States and Canada. The firm is known for its unique culture derived from hands-on experience in building and running businesses, led by a team of former operators and entrepreneurs.

W: www.gridironcapital.com.