Castanea Partners has made an investment in Simms Fishing Products. The deal comes as investors are showing interest in outdoor products in time for the summer season.
Simms, founded in 1980 and based in Bozeman, Montana, makes boots, vests, jackets and fishing accessories. The products are sold through specialty retailers.
“When we decided to look for a partner to help us thoughtfully expand the Simms brand to the next level, we valued operational expertise as highly as financial capability,” says Simms' president K.C. Walsh. Terms of the investment were not disclosed. Baird Investment Banking advised Simms on the transaction.
Castanea is a middle market consumer-focused private equity that is based in Newton, Massachusetts. The PE firm invests up to $150 in businesses across the beauty, apparel and food and beverage sectors.
Outdoor-related business have become attractive targets across the middle-market. Recent deals include: Malibu Boats’ acquisition of rival company Cobalt, a manufacturer of recreational boats and boat gear; Falconhead Capital's buying of Kwik Tek Inc., a maker of wakeboards and snowsleds; and Peak Rock Capital’s purchase of Do Outdoors Inc., the owner of fishing product manufacturer Lew’s Fishing.