Platinum Equity announced Tuesday that the sale of Fishing Holdings, LLC, the Flippin, Ark.-based manufacturer of the Ranger, Stratos and Triton fishing boat brands, to Bass Pro Group, LLC has been completed. Financial terms of the agreement were not disclosed.
Platinum Equity acquired Ranger and Stratos as part of a larger portfolio of boat brands in February 2010 from Genmar Holdings, Inc., through a transaction conducted under Section 363 of the U.S. Bankruptcy Code. Triton was acquired from Brunswick in July 2010.
"Over the past five years we made good on our promise to provide the resources and support the business needed to grow," said Platinum Equity partner Louis Samson. "We are proud of the role we played in the evolution of these iconic fishing brands and of everything that was accomplished during our ownership."
Samson credited Fishing Holdings president Randy Hopper and his executive team as well as the hard work of Fishing Holdings employees as key drivers of the company's success.
Fishing Holdings was advised by Harris Williams & Co. in connection with the transaction. Latham & Watkins acted as deal counsel.