Bruckmann, Rosser, Sherrill & Co. ("BRS"), a New York-based private equity firm, announced today that it has acquired New Archery Products Corp. ("NAP") and Quikfletch LLC ("Quikfletch") from NAP's founder Andy Simo and other Quikfletch stockholders. The acquisition was made through BRS Outdoor Sports Holdings LLC, which also owns Gamo Outdoors, the global manufacturer of high-quality airguns and other outdoor accessories. Financial terms of the transaction were not disclosed. Other shareholders of BRS Outdoor Sports include Frist Capital, LLC, Bixby Bridge Capital, LLC, Swift River Investments and Quilvest Private Equity.
Founded in 1971 and based in Forest Park, IL, NAP and Quikfletch are leading designers and manufacturers of fixed and mechanical broadheads, vanes and fletching and other archery related accessories. NAP's array of products can be found at mass merchants, sporting goods retailers and dealers throughout the country. NAP differentiates itself through its proprietary manufacturing and patented designs, resulting in the highest-quality broadheads in the market.
Stephen Sherrill, co-founder and Managing Director of BRS, said, "We are very excited to build on the accomplishments of the NAP team in creating a highly reputable brand of innovative products with a dedicated customer base. We look forward to strengthening the Company's focus on product development and its position in the archery market."
Andy Simo said, "We are very pleased for BRS Outdoor Sports and Gamo to be involved with the next chapter of growth for NAP. I am confident that the Company will continue its successful track record due to their extensive experience in the outdoor sector and ability to provide valuable strategic guidance."
Semanoff Ormsby Greenberg & Torchia, LLC acted as legal advisor to BRS and VR Lakes Business Group Inc. acted as the financial advisor to NAP.
About Bruckmann, Rosser, Sherrill & Co.
BRS is a New York based private equity firm with $1.4 billion of committed capital under management in three investment partnerships, focused on investing in middle market consumer goods and services businesses. Since 1996, BRS has purchased over 40 portfolio companies for aggregate consideration of over $6.4 billion. In addition, BRS portfolio companies have completed approximately $1.9 billion of add-on acquisitions. Prior to forming the firm, the founders of BRS were in the private equity business at Citicorp Venture Capital where they closed 25 transactions with aggregate transaction values totaling $5.8 billion.
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SOURCE Bruckmann, Rosser, Sherrill & Co.