Lew’s, backed by Peak Rock, adds fishing equipment supplier Strike King
Lew’s Holding Corp., an outdoor consumer company owned by private equity firm Peak Rock Capital, is acquiring fishing equipment supplier Strike King Lure Co.
Strike King supplies hard and soft lures, wire baits, terminal tackle, sunglasses and other fishing accessories to the specialty outdoor market. The Collierville, Tennessee-based target’s products are distributed in retailers such as Wal-Mart Stores Inc. (NYSE: WMT), Cabela’s Inc. (NYSE: CAB), Bass Pro LLC, Gander Mountains and more.
Lew’s also distributes branded fishing reels, rods and accessories. The target’s portfolio of accessories include floating key chains, speed lines, face shields, rod and reel combos, t-shirts, hats and other fishing apparel. Lew’s, based in Springfield, Missouri, sells its products to mass market retailers, sporting goods chains and specialty outdoor retailers such as: Dick’s Sporting Goods Inc. (NYSE: DKS), Mark’s Outdoor Sports, and Outdoor World.
Peak Rock acquired Lew’s in November 2016, when the firm’s managing director Peter Leibman said Lew’s would serve as “an excellent platform” to make add-on acquisitions and investments for product development.
Peak Rock, based in Austin, Texas, is a lower middle market private equity firm that targets companies covering consumer goods, food and beverage, business and tech-enabled services, energy, healthcare, manufacturing and industrials, metals, and technology. The firm typically invests between $20 million to $150 million in companies with up to $1 billion in revenue.
Other fishing and outdoors-related deals include: Cabela’s agreement to purchase Bass Pro Shops for $5.5 billion; Malibu Boats’ acquisition of rival company Cobalt, a manufacturer of recreational boats and boat gear; and Falconhead Capital's buying of Kwik Tek Inc., a maker of wakeboards and snow sleds.