Investment firm Strategic Value Partners (SVP) completed its acquisition of Revelyst, a portfolio of outdoor brands including Fox Racing, CamelBak, Bushnell, and Simms Fishing, in an all-cash transaction of $1.125 billion, according to a news release.
SVP describes itself as a “global alternative investment firm that focuses on special situations, private equity, opportunistic credit and financing opportunities,” according to LinkedIn. It manages assets valued at approximately $19 billion.
“We are excited to partner with Eric (Revelyst CEO Eric Nyman) and the rest of the Revelyst team to drive growth across the company’s diverse, category-defining brands and capture the immense opportunities ahead,” said David Geenberg, head of North American corporate investments at SVP, in a statement. “We are strong believers in the strength of the Revelyst portfolio, along with the significant work underway to enhance the company’s platform and operations and drive innovation for customers. We will apply our operating resources and network to help unlock the full potential of Revelyst and propel it to new heights.”
Under the terms of the agreement, Revelyst shareholders will receive $20.12 in cash for each share of Revelyst common stock they hold. Revelyst common stock will no longer trade on the New York Stock Exchange.
Throughout 2024, executives at Revelyst’s former parent company Vista Outdoor were under pressure from shareholders to maximize value from its plan to sell its ammunition business, The Kinetic Group. After a lengthy strategic review, shareholders voted in favor of selling The Kinetic Group to Czechoslovak Group and Revelyst to SVP.
“We are pleased to complete the transaction with SVP, which provides us with expanded resources to accelerate our GEAR Up transformation, advance our innovation efforts and grow our iconic brands,” said Revelyst CEO Eric Nyman. “We look forward to working with SVP and continue delivering top-tier products to customers while further building our market-leading position in the outdoor recreation industry.”
