Published By OutdoorsFIRST Media Published November 7, 2017
Lew's Holdings Corporation ("Lew's"), a portfolio company of Peak Rock Capital, a leading middle market private equity firm, announced today that it has acquired Strike King Lure Company ("Strike King"), a leading supplier of branded fishing lures, sunglasses, and other fishing accessories.
Founded in 1964, Strike King is an iconic brand in the fishing industry. The company's innovative product portfolio includes wire baits, hard and soft plastic lures, terminal tackle, sunglasses, and related fishing accessories. Headquartered in Collierville, Tennessee, Strike King benefits from an exceptional team of employees, pro staff, and manufacturing partners.
Peter Leibman, Managing Director of Peak Rock Capital, said, "We are thrilled to have the opportunity to invest in the combination of the Lew's and Strike King brands. The brands and product lines are highly complementary, and we're excited to further support the rapid growth of the overall company, while seeking additional acquisitions. I'd like to personally thank Lynn Reeves, Chairman of Lew's, for his help in introducing us to the Strike King management team."
Gary Remensnyder, CEO of Lew's commented, "Similar to Lew's, Strike King has been tremendously successful because of its focus on product innovation, outstanding marketing, and exceptional service to its retail partners and consumers. Lew's and Strike King share a common vision to provide cutting-edge products to anglers and best-in-class service to their retail partners. John Barns and Allan Ranson along with their dedicated employees, pro staff, and manufacturing partners have done a fantastic job driving growth at the company, and we are excited that John and Allan will remain involved with the company going forward."
As part of the transaction, Ken Eubanks will become President of Lew's while continuing in his current role as CEO of Hunters Specialties. Ken has almost 15 years of experience in outdoor related businesses, including, prior to Hunters Specialties, his role as Senior Vice President and General Manager, Americas for Pure Fishing.
MidCap Financial provided financing for the transaction.