Strike King Lure Company has been acquired by Lew's Holdings Corporation, a portfolio company of private equity firm Peak Rock Capital.
Founded in 1964, Strike King has grown into an iconic brand in the fishing industry and its product portfolio includes wire baits, hard and soft plastic lures, terminal tackle, sunglasses, and related fishing accessories. Headquartered in Collierville, Tenn., Strike King has a top-end pro staff that includes Kevin VanDam, Denny Brauer, Greg Hackney, among many others.
It's the second major acquisition involving a lure manufacturer in the last week. PRADCO last week announced it had purchased War Eagle Custom Lures.
Peter Leibman, Managing Director of Peak Rock Capital, said in a release announcing the purchase, "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.
