It has been announced today: Crosman sold to Daisy.
Here’s the announcement from Compass Diversified Holdings, the owner of Velocity Outdoor, the owner of Crosman Corporation…
Compass Diversified Announces Sale of Crosman Air Gun Business
APR 30, 2024WESTPORT, Conn., April 30, 2024 (GLOBE NEWSWIRE) — Compass Diversified (NYSE: CODI) (“CODI” or the “Company”), an owner of leading middle market businesses, is announcing the simultaneous entry into a definitive agreement (the “Agreement”) and completion of its sale of Crosman Corporation (“Crosman”), the air gun division of its Velocity Outdoor, Inc. subsidiary, to Daisy Manufacturing Company (“Daisy”).
Crosman is a leading designer, manufacturer and marketer of air guns, accessories and related consumables sold under the Crosman, Benjamin, Game Face, LaserMax and Centerpoint Optics brands. For more than 100 years, Crosman has served as a pioneer of the air gun industry. Daisy is a designer, manufacturer and marketer of youth and adult air guns, accessories and related consumables sold under the Daisy, BSA, Red Ryder, GAMO and Winchester brands and is a portfolio company of BRS & Co.
Proceeds from the transaction will be used to pay down debt and for general corporate purposes.
Elias Sabo, CEO of Compass Diversified stated, “Our partnership with Crosman dates back to 2006 when we first acquired Crosman, and we are grateful for its history of contributions to both Velocity Outdoor and CODI. We believe Crosman’s sale to a recognized industry veteran in the air gun space positions it well for future success.”
Tom McGann, Chairman of Velocity Outdoor, commented, “On behalf of the Velocity team, I want to thank the entire Crosman team for their dedication over the years. We wish them nothing but continued success under new ownership.”
Crosman is a leading designer, manufacturer and marketer of air guns, accessories and related consumables sold under the Crosman, Benjamin, Game Face, LaserMax and Centerpoint Optics brands. For more than 100 years, Crosman has served as a pioneer of the air gun industry. Daisy is a designer, manufacturer and marketer of youth and adult air guns, accessories and related consumables sold under the Daisy, BSA, Red Ryder, GAMO and Winchester brands and is a portfolio company of BRS & Co.
Proceeds from the transaction will be used to pay down debt and for general corporate purposes.
Elias Sabo, CEO of Compass Diversified stated, “Our partnership with Crosman dates back to 2006 when we first acquired Crosman, and we are grateful for its history of contributions to both Velocity Outdoor and CODI. We believe Crosman’s sale to a recognized industry veteran in the air gun space positions it well for future success.”
Tom McGann, Chairman of Velocity Outdoor, commented, “On behalf of the Velocity team, I want to thank the entire Crosman team for their dedication over the years. We wish them nothing but continued success under new ownership.”
Robert W. Baird & Co acted as exclusive financial advisor and Gibson, Dunn & Crutcher LLP acted as legal counsel to CODI. Kirkland & Ellis LLP acted as legal counsel to Daisy.
About Compass Diversified (“CODI”)
Since its IPO in 2006, CODI has consistently executed on its strategy of owning and managing a diverse set of highly defensible, middle-market businesses across the industrial, branded consumer, and healthcare sectors. CODI leverages its permanent capital base, long-term disciplined approach, and actionable expertise to maintain controlling ownership interests in each of its subsidiaries, maximizing its ability to impact long-term cash flow generation and value creation. CODI provides both debt and equity capital for its subsidiaries, contributing to their financial and operating flexibility. CODI utilizes the cash flows generated by its subsidiaries to invest in the long-term growth of the Company and has consistently generated strong returns through its culture of transparency, alignment, and accountability. For more information, please visit compassdiversified.com.
Since its IPO in 2006, CODI has consistently executed on its strategy of owning and managing a diverse set of highly defensible, middle-market businesses across the industrial, branded consumer, and healthcare sectors. CODI leverages its permanent capital base, long-term disciplined approach, and actionable expertise to maintain controlling ownership interests in each of its subsidiaries, maximizing its ability to impact long-term cash flow generation and value creation. CODI provides both debt and equity capital for its subsidiaries, contributing to their financial and operating flexibility. CODI utilizes the cash flows generated by its subsidiaries to invest in the long-term growth of the Company and has consistently generated strong returns through its culture of transparency, alignment, and accountability. For more information, please visit compassdiversified.com.
You can read the original Press release here Compass Diversified Announces Sale of Crosman Air Gun Business
So that’s it. Crosman sold to Daisy. There’s no announcement yet from BRS, the company that owns Daisy through its BRS Outdoor Sports Holdings subsidiary.
So that’s it. Crosman sold to Daisy. There’s no announcement yet from BRS, the company that owns Daisy through its BRS Outdoor Sports Holdings subsidiary.
The post Hot News – Crosman Sold To Daisy appeared first on Hard Air Magazine.
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. My thoughts are with the workers. I have been through merger buyouts and a takeover 
