Wild Sports, a manufacturer and provider of licensed and branded tailgating, homegating and outdoor games, has been acquired by Expedition Capital Partners, Centerfield Capital Partners and Cardinal Equity Partners. The acquisition was completed in partnership with the company’s founders, Todd Hines and Gregg Browne.
Wild Sports’ products are sold at big-box retailers and also through on-line retailers. The company’s products include games such as Cornhole, Tailgate Toss and Stackers, in addition to other tailgating accessories such as team branded tables and chairs. Wild Sports has licenses with the NFL, MLB and NHL and has more than 500 licenses with universities and colleges across the country. The company is headquartered north of Indianapolis in Westfield, IN (www.wildsports.com).
“We are thrilled to join with Expedition, Centerfield and Cardinal as we look to continue our rapid expansion,” said Founder and Co-CEO Todd Hines. “We have many organic growth and expanded licensing opportunities for Wild Sports. We also see acquisition opportunities in the tailgating and outdoor games category where there are a number of highly profitable, synergistic targets that align well with our core competencies.”
“Wild Sports and specifically, Todd Hines and Gregg Browne, have done a tremendous job in building vital licensing and retail partnerships,” said Michael Hendrie, Managing Director of Expedition Capital Partners. “With this leadership team now equipped with the necessary resources, we’re very excited about the future of Wild Sports.”
Expedition Capital Partners invests in lower middle market companies that have at least $2 million of EBITDA. Sectors of interest include business services; consumer products and services; distribution and logistics; education and training; healthcare; infrastructure; manufacturing; and waste & recycling. The firm is based in Chicago (www.expedition-partners.com).
“Wild Sports has a strong foundation that provides the stability and launching pad for rapid growth,” said Faraz Abbasi, Senior Partner at Centerfield Capital Partners. “Our investment will provide this exceptional management team the necessary capital they need to realize the substantial growth potential in their strategic plans.”
Centerfield Capital Partners provides from $7 million to $35 million of subordinated debt and equity financing to middle-market companies that have $15 million to $100 million of revenue and $3 million to $15 million of EBITDA. The firm is based in Indianapolis (www.centerfieldcapital.com).
“The category continues to grow and remains highly profitable, and Wild Sports is the leader and will remain the leader,” said John Ackerman, a Partner at Cardinal Equity Partners. “We are excited to provide Wild Sports the necessary resources to grow organically and acquire profitable opportunities to add to the portfolio.”
Cardinal Equity Partners invests from $2 million to $7 million of equity in companies that have from $5 million to $50 million of revenues and $1 million to $5 million of EBITDA. Sectors of interest include niche manufacturing, value-added distribution, consumer products, and service companies. The firm was founded in 1993 and is headquartered in Indianapolis (www.cardinalep.com).
© 2017 Private Equity Professional | November 1, 2017
