Bushnell Acquires Assets of Simmons Outdoor Corporation
June 13 2008 - 4:05PM
PR Newswire (US)
OVERLAND PARK, Kan., June 13 /PRNewswire/ -- MidOcean Partners, a
leading middle market private equity fund, and Bushnell Outdoor
Products, the worldwide leader in sports optics, premium eyewear,
and outdoor accessories for 60 years, announced today that its
portfolio company Bushnell has acquired the Simmons(R) brand and
certain other assets of Simmons Outdoor Corporation from Meade
Instruments Corp., (NASDAQ:MEAD) a California based publicly traded
company. Simmons is a provider of high quality, innovative optical
products. The acquisition includes a complete line of riflescopes
and binoculars, as well as spotting scopes. This acquisition
continues the expansion of the family of outdoor brands under the
Bushnell Outdoor Products umbrella. Since 1983 Simmons has provided
the hunter and sportsmen performance and long-lasting value led by
the Master Series(TM) line of riflescopes. For the hunter and the
sports fan the Simmon's ProSport(R) compact and full size line of
binoculars provides fully coated optics with edge-to-edge clarity.
"The Simmons line of optical products provides a strategic asset
and a valuable brand to our company," said Joe Messner, President
and CEO of Bushnell Outdoor Products. "We want to continue to
provide value and service to the loyal Simmons customers and
consumers that they have grown to expect over the past 30 years,"
added Messner. "Acquisition of the Simmons line is consistent with
MidOcean's strategy of expanding the Bushnell platform through
select strategic acquisitions," said David Basto, a Principal at
MidOcean Partners. "Our goal is to identify attractive brands which
we can improve by leveraging Bushnell's strong distribution channel
and management expertise." The parties signed a definitive purchase
agreement and the transaction closed on June 12, 2008. This marks
the seventh acquisition Bushnell has made since 2001. The most
recent was the purchase of the Kolpin(R) and Final Approach(R)
brands in 2007. Prior to that, Michael's of Oregon in 2005 with the
addition of the Uncle Mike's(R), Hoppe's(R), Butler Creek(R),
Stoney Point(R), Uncle Mike's Law Enforcement(R) brands. The
Tasco(R) sports optics brand was added in 2002 and Bolle(R) and
Serengeti(R) premium eyewear brands were acquired in 2001, along
with Moonlight night vision products. About Bushnell Bushnell is a
privately held company funded by MidOcean Partners, a private
equity firm with offices in New York and London. Bushnell Outdoor
Products is a global manufacturer and marketer of branded consumer
products based in Overland Park, Kansas. Bushnell Outdoor Products
sells its products worldwide under the Bushnell(R), Tasco(R),
Serengeti(R), Bolle(R), Uncle Mike's(R), Stoney Point(R),
Hoppe's(R), Kolpin(R), Final Approach(R) and Butler Creek(R) brand
names. For information about any of these brands or products,
please contact Bushnell Public Relations at (913) 752-6105. About
MidOcean MidOcean Partners is a premier private equity firm focused
on the middle market. MidOcean is committed to investing in high
quality companies with stable market positions and multiple
opportunities for growth. MidOcean utilizes a broad foundation of
expertise in its focus industries and its transatlantic platform to
create value for its investors and partners. For more information
about MidOcean Partners, please visit
http://www.midoceanpartners.com/. Jen Messelt - for Bushnell
Outdoor Products (913) 752-6105 / Chris Tofalli - for MidOcean
Partners (914) 834-4334 DATASOURCE: MidOcean Partners CONTACT: Jen
Messelt for Bushnell Outdoor Products, +1-913-752-6105, ; Chris
Tofalli for MidOcean Partners, +1-914-834-4334 Web site:
http://www.midoceanpartners.com/
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