Lew’s Holdings Corporation sold to merchant bank
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US-based Lew’s Holdings Corporation – owner of Lew’s Fishing and Strike King – has been sold to a merchant bank to fund its next stage of development.
BDT Capital Partners, of Chicago, which specialises in providing family and founder-led businesses with long-term capital, will be taking a majority investment in Lew’s. Previous owner Peak Rock Capital and its affiliates will end their involvement in the fishing and outdoor business.
Headquartered in Lexington, South Carolina, Lew’s will continue to be led by current CEO Ken Eubanks and his management team. The transaction is expected to close in the next two or three weeks.
“We are thrilled that BDT Capital Partners will support Lew’s as a long-term partner in its growth. With its expertise and support, we will have the resources to further invest in the company’s strategy to provide product innovation for consumers and industry-leading retail support and service,” said Eubanks.
“BDT brings a long-term focus and extensive experience partnering with brands like ours that have historically been family and founder-owned. It shares our values and its support will be invaluable as we look to continue to drive growth both organically and through acquisitions.”
Tiffany Hagge, Managing Director of BDT, added: “We are excited to partner with Lew’s and support the growth of its leading fishing and outdoor brands. Led by industry veterans, Lew’s has a strong following amid avid and enthusiastic anglers, a broad distribution network, high quality products and an impressive innovative track record.
“Our investment in the company represents an opportunity to partner with an outstanding management team in a dynamic and growing industry. We view this as an attractive platform investment in a sector with significant opportunity for organic growth and consolidation.”