Wild Sports, a manufacturer and provider of licensed and branded tailgating, homegating and outdoor games, has acquired KanJam.
KanJam is a manufacturer of backyard, beach and party games and is best known as the pioneer and inventor of the popular disc sport KanJam. KanJam was created in the 1980s by Charles Sciandra and Paul Swisher in Buffalo, New York, and was originally called “Garbage Can Frisbee” (www.kanjam.com).
Wild Sports’ products are sold at big-box retailers and also through online 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).
In September 2017 Wild Sports was acquired, in partnership with the company’s founders Todd Hines and Gregg Browne, by Expedition Capital Partners, Centerfield Capital Partners and Cardinal Equity Partners.
The buy of KanJam is a natural product extension for Wild Sports and the company continues to be interested in acquiring other products in the outdoor gaming, homegating and tailgating sectors. Typical add-on acquisitions will have retail and online distribution, revenues of greater than one million, and positive EBITDA.
Expedition Capital Partners, based in Chicago, 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; education and training; health care; infrastructure; and manufacturing (www.expedition-partners.com).
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).
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).
© 2018 Private Equity Professional | March 14, 2018
