Wild Sports makes "dream deal" with disc toss game maker KanJam
Private equity-backed Wild Sports has acquired outdoor games company KanJam. The target's founders Charlie Sciandra and Mitch Rubin also invested in the deal and will remain with the company. Wild Sports is owned by Expedition Capital Partners, Centerfield Capital Partners and Cardinal Equity Partners.
Getzville, New York-based KanJam is known for making disc toss games under its own brand. The company has a licensing agreement with several Major League Baseball teams, colleges, and entertainment brands such as the Teenage Mutant Ninja Turtles and SponeBob Squarepants. In addition, KanJam has brand licensing deals with individual athletes including New England Patriots tight end Rob Gronkowski.
"It's a dream deal," says Wild Sports co-CEO Gregg Browne. Wild Sports makes tailgating and outdoor games, including cornhole, and has licensing deals with the National Hockey League and National Football League.
“KanJam’s success internationally also opens the door for other Wild Sports products and we plan on taking advantage of those newly acquired relationships.” adds Wild Sports co-CEO Todd Hines. Financial terms of the deal were not disclosed.
More and more family- and founder-run businesses in the lower middle-market companies are looking to private equity capital to finance their growth strategies. Such partnership can provide a handful of advantages such as a better chance of finding acquisitions, and access to more capital and industry contacts. For example, Huron Capital has formed a new platform to seek M&A in the HVAC sector through the investment of Pueblo Mechanical & Controls Inc., and CenterOak Partners LLC formed a new operating company called TruRoad Holdings Inc. through the investments of JN Phillips Auto Glass and Techna Glass Inc.