TSG Consumer Partners has signed a definitive agreement to acquire a majority stake in Rough Country from Gridiron Capital. Gridiron Capital and Rough Country management will remain significant investors and the company will continue to be led by the current management team.
Rough Country is a provider of aftermarket products and accessories to the truck, Jeep and SUV market.
“TSG is the global leader in building world-class consumer brands, and we are excited to enter our next phase of growth with their support,” said Ken Dunn, chief executive officer of Rough Country. “Over the past few years, we have experienced great success under Gridiron’s ownership. With TSG’s unrivaled auto aftermarket and digital marketing expertise, we’ll continue to expand our brand reach, digital presence and diversified customer base as we help fulfill consumers’ passions for off-road and outdoor lifestyles around the world.”
“TSG is thrilled to partner with Rough Country, a clear market leader working to help people pursue their passions in the outdoors,” said Pierre LeComte, managing director at TSG. “Rough Country’s winning combination of robust direct-to-consumer distribution and quality brand enables it to deliver unrivaled value to its loyal customer base. We look forward to leveraging our digital and brand building expertise to help fuel the company’s product, distribution and category expansion in the years to come.”
“It has been an honor to work with Ken, Chief Financial Officer Patrick Just, and the team at Rough Country. Since Gridiron partnered with Rough Country four years ago, the company has achieved significant organic growth, launched innovative new product categories, and deepened the enthusiast consumer loyalty to the Rough Country brand across its target markets,” said Kevin Jackson, managing partner at Gridiron Capital. “Rough Country’s impressive results and exciting future plans have fueled our conviction and excitement to continue to support the company’s growth alongside TSG and the management team to see Rough Country achieve even greater heights.”
“Consumers across America are increasingly seeking an off-road and outdoors lifestyle, and Rough Country is best-positioned to capitalize on this growing demand through its relentless focus on product design and industry-leading customer service,” commented Bill Cooling, managing director at TSG.
Ropes & Gray LLP acted as legal advisor and Jefferies LLC acted as financial advisor to TSG. Benesch, Friedlander, Coplan & Aronoff LLP acted as legal advisor and Robert W. Baird & Co. acted as financial advisor to Gridiron Capital.