Holland & Knight Represents Compass Diversified Holdings in Acquisition of Crosman Corporation
STAMFORD, Conn. (June 16, 2017) – Holland & Knight advised Compass Diversified Holdings, an owner of leading middle market businesses, in its purchase of Crosman Corporation, the world’s largest designer, manufacturer and marketer of air guns and archery products. The acquisition was completed for a purchase price of approximately $152 million. The deal closed on June 2.
Headquartered in East Bloomfield, N.Y., Crosman serves more than 425 customers worldwide, including mass merchants, sporting goods retailers, online channels and distributors serving small specialty stores and international markets. The company’s diversified product portfolio includes the widely known Crosman, Benjamin and CenterPoint brands.
Compass Diversified Holding owns and manages a diverse family of established North American middle market businesses. Each of its current subsidiaries is a leader in its niche market. This transaction is the company’s second platform acquisition in the last nine months and brings the current number of industrial and branded consumer businesses it owns to nine. Compass Diversified Holdings is based in Westport, Conn.
The Holland & Knight team was led by Partner Evan Seideman and Senior Counsel Marybeth O’Keefe of the firm’s Stamford office.