Compass Diversified Holdings of Westport has acquired Crosman Corp., described as “the world’s leading designer, manufacturer and marketer of airguns, archery products, optics and related accessories,” for $152 million.
Headquartered in East Bloomfield, N.Y., Crosman serves over 425 customers worldwide, including mass merchants, sporting goods retailers, online channels and distributors serving smaller specialty stores and international markets. The company’s diversified product portfolio includes the Crosman, Benjamin and CenterPoint brands. For the trailing 12 months ended April 30, Crosman reported net revenue of approximately $118 million.
Compass funded the purchase price through available cash on its balance sheet and a draw on its revolving credit facility. The Westport firm said its equity ownership in Crosman as a result of the transaction is approximately 98.9 percent. Compass previously owned a majority stake in Crosman and divested the business in 2007.
Compass owns and manages a diverse family of established North American middle market businesses.