Investment firm Gridiron Capital has agreed to sell its controlling stake in Good Sportsman Marketing Outdoors (GSM Outdoors) to Platinum Equity for an undisclosed sum.
The transaction between Gridiron Capital and Platinum Equity is expected to close in the third quarter. GSM Outdoors CEO Eddie Castro and the current management team will continue to lead the company following the deal.
Headquartered in Texas, GSM Outdoors owns a diverse and growing portfolio of more than 50 outdoor brands offering consumable accessories, gear, and subscription services.
The company sells through various channels including online retailers, sporting goods stores, mass merchants, outdoorsman retailers, farm and fleet stores, and dealers and distributors across the US and Canada.
Gridiron Capital acquired a majority stake in GSM Outdoors from Sentinel Capital in 2020 and has helped the company build a leading outdoor enthusiast platform since then.
“Over the course of our partnership, GSM has grown significantly through strategic expansions into fishing and other rugged outdoor categories, while dramatically scaling the cellular and app subscription business, completing 18 acquisitions of iconic brands, and driving consistent organic growth through new product development,” said Gridiron managing partner Kevin Jackson.
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