Founder and CEO searching for a strategic buyer to pay a premium valuation.
Mainstream Holdings has been acquired by GSM Outdoors
Based in Windom, Minnesota, Mainstream Holdings and its portfolio of well-known outdoor lifestyle brands including Muddy Outdoors, Hawk, and Big Game, are recognized across the hunting industry as a leader in outdoor lifestyle products. The premier manufacturer of hang-on, climber, and ladder stands, Muddy Outdoors is also the preeminent manufacturer of portable tripod and quadpod elevated platform stands for hunting, as well as the most feature-rich and rugged elevated box blinds on the market today. In addition to the top-quality hunting stands, Muddy Outdoors also produces first-class pop-up and bale blinds for ground hunters, as well a broad range of treestands, game cameras and hunting accessories.
Founder and CEO Tod Quiring was looking for a strategic buyer to pay a premium for Mainstream Holdings.
I’m extremely excited about GSM’s acquisition of Mainstream Holdings. Adding the industry-leading Muddy, Hawk and Big Game brands to the current GSM portfolio of brands will continue to provide best in class innovative products to the outdoor enthusiast. I couldn’t be happier with the job Vermillion did finding us the right partner. – Tod Quiring, CEO, Mainsteam Holdings
M&A Transaction Process
Vermillion worked closely with Mainstream Holdings to prepare the Company for its sale prior to going to market. Vermillion advised Mainstream on several strategic initiatives and decisions, including:
- Advised Mainstream to hold a series of “preview meetings” prior to launching a broad sale process. The “preview meetings” were critical to telling the Company’s story to key strategic acquirors.
- Advised Mainstream on a highly accretive acquisition of Hawk Group, a leading, branded supplier of ladder stands, hang-ons, and accessories.
- Advised Mainstream on articulating a key growth initiative related to Walmart that was critical to the Company’s overall growth story.
- Orchestrated and executed the sale process on a strict timeline that spanned only 5 months between going to market and closing the transaction.
Through a broad marketing process, Vermillion spoke with over 150 prospective buyers and secured 16 first round bids. Mainstream was sold to GSM Outdoors at a 12% premium to the next highest bidder.