Deal Details

Sale from Pamlico Capital to Wellspring Capital Management

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Summary

About

Crosman Corporation (“Crosman” or the “Company”), a portfolio company of Pamlico Capital, today announced its sale to Wellspring Capital Management (“Wellspring”). Financial terms of the transaction were not disclosed.

Founded in 1923 and based in East Bloomfield, New York, Crosman is the world’s leading designer, manufacturer and marketer of airguns, airsoft guns and related category consumables. The Company also offers a wide assortment of high-quality precision optics, making Crosman one of the outdoor sportsman industry’s largest platforms in terms of revenue and product breadth. Crosman markets its products under several well-known proprietary and licensed names, including Benjamin, Bushmaster, Crosman, Marlin and Remington. The Company sells its products through mass merchants, national retailers and distributors in the U.S. and abroad.

Wellspring Capital Management, founded in 1995, is a leading middle-market private equity firm that manages more than $2 billion of private equity capital. Headquartered in New York City, the firm’s objective is to bring partnership, experience and value creation to each investment. Select portfolio companies have included American Coin Merchandising, Checkers Drive-In Restaurants, Dave and Buster’s, Edwin Watts Golf Shops, Lionel, The Hockey Company and United Sporting Companies.

Baird served as the exclusive financial advisor to Crosman and Pamlico in this transaction.

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