30 May Amherst Advises on Sale of KL Outdoor
Amherst Partners, LLC (“Amherst”) is pleased to announce the sale of KL Outdoor, LLC (“KLO” or the “Company”) to New Water Capital Partners L.P. (“New Water”). Amherst acted as the exclusive financial advisor to KLO in connection with the transaction.
About KL Outdoor
Headquartered in Muskegon, Michigan, KLO caters to health conscious, active lifestyle consumers by manufacturing proprietary, branded products for two distinct markets: recreational outdoor activities and premium outdoor events. The Company’s branded recreational outdoor products include kayaks, canoes, pedal boats, fishing boats, dinghies, stand up paddle boards, hunting and fishing blinds and sleds as well as accessories. KLO’s Sun Dolphin product line is the world’s largest selling brand of kayaks and other small boats. In its other primary segment, KLO is the market leader in the manufacture and distribution of portable restroom modules used across the globe for large, high profile outdoor events.
About New Water Capital Partners
Boca Raton, Floridabased New Water is a private equity firm focused on middlemarket companies in the consumer, retail, and industrial manufacturing and services sectors. New Water’s portfolio companies include outdoor furniture manufacturer Pride Family Brands, automotive lighting component company Sea Link International, and women’s fashion company The Worth Collection.
About The Engagement
KLO engaged Amherst to advise on the sale of the Company based, in part, on Amherst’s substantial experience in the consumer products sector. Amherst developed and pursued a comprehensive sale process, identifying and approaching a robust list of potential acquirers that included global Fortune 500 companies and national private equity firms, in addition to numerous middlemarket strategic and financial buyers. Ultimately, New Water was selected as the preferred buyercandidate based, in large measure, on its ability to embrace the demonstrated value and the inherent potential in the Company’s vertically integrated production processes, diverse product lines, and recognized global brands.
The transaction, a 100 percent sale of the Company, met the seller’s goals and facilitated a smooth transition of the Company’s current management team. The new owners have indicated their commitment to keep the Company’s operations in Muskegon, Michigan, delivering jobs and economic stability to the region.
Kerr Russell provided legal advice to KL Outdoors.
About Amherst Partners
With a track record that spans over 20 years, Amherst Partners is one of the Midwest’s most reputable boutique restructuring advisory and investment banking firms. Among its core services, Amherst provides middlemarket companies with significant financial advisory expertise for corporate restructurings, business divestitures, acquisitions and corporate finance transactions. Our professionals share a commitment to developing a “trusted advisor” relationship with our clients and referral partners, and have amassed an extraordinary track record of success in our restructuring, merger & acquisition advisory and capital raising practices.