The Crosman Corporation has been acquired by Compass Diversified Holdings (NYSE: “CODI”), an owner of leading middle market businesses. The sale was completed on June 2, 2017.
Crosman is the world’s leading designer, manufacturer and marketer of airguns, archery products, optics and related accessories. Headquartered in East Bloomfield, New York, Crosman serves over 425 customers worldwide, including mass merchants, sporting goods retailers, online channels and distributors serving smaller specialty stores and international markets. The company’s diversified product portfolio includes the widely known Crosman, Benjamin and CenterPoint brands.
Crosman’s management team invested in the transaction alongside CODI. CODI previously owned a majority stake in Crosman and divested the business in 2007.Concurrent with its acquisition, CODI announced the appointment of Robert Beckwith to CEO. Beckwith joined the organization in 1999 and most recently served as Chief Financial Officer.
“Crosman is a market leader with iconic brands and we are pleased to add the company to our family of niche leading businesses with this accretive acquisition,” said Alan Offenberg, CEO of Compass Diversified Holdings. “We are excited to draw on our past ownership of Crosman and deep experience with outdoor branded consumer product companies, and look forward to working with the company’s strong management team to solidify Crosman’s leading position in airguns and further penetrate the archery market.”
“We are very pleased to have been acquired by Compass Diversified Holdings,” says CEO, Robert Beckwith. “Compass’ strong management team and dedication to growth make them the perfect partner to allow us to invest in the business to take it to the next level.”
Featured image: WHAM