New Canaan, CT, March 30, 2012 — Gridiron Capital, LLC is pleased to announce the sale of McKenzie Sports Products, LLC (“McKenzie” or “the Company”) a leading designer, manufacturer and provider of taxidermy forms and supplies used to create trophies harvested by hunters and fisherman. The transaction closed March 30, 2012.
McKenzie’s growth and its future market opportunity have expanded significantly since Gridiron’s investment in August 2006. In addition to growing McKenzie’s core traditional market, the Company expanded into new product categories – Habitat and Reproductions – that are valuable to the Company’s core taxidermist customer base and provide the Company with significant growth opportunities going forward.
Mr. Thomas A. Burger Jr., Managing Partner, Gridiron Capital, LLC stated, “It was a difficult decision to sell McKenzie given our longstanding partnership with the Company and its track-record of consistent growth; however, we are excited about the value we were able to create for our investors. We are proud of our association with the entire McKenzie team and are confident they will continue to enjoy future success with their new partners.”
Mr. Kevin McKenzie, Chairman of McKenzie stated, “Gridiron’s partnership and support was critical to our success over the last six years and has helped position us for continued long-term growth. They helped us expand our addressable market through new product innovation, execute on several strategic acquisitions and enhance our high-touch customer service model by building new distribution facilities in Utah and Pennsylvania.”
Harris Williams & Co. acted as the exclusive advisor for the transaction and Ropes & Gray provided legal counsel.
McKenzie Sports Products, LLC, headquartered in Granite Quarry, North Carolina, is the premier designer and manufacturer of taxidermy forms and supplies used to mount trophies harvested by hunters and fishermen. Founded in 1973 by experienced taxidermist and hunter Larry McKenzie, the company designs, manufactures, markets and distributes a broad array of anatomically correct taxidermy forms. The taxidermy forms are sold exclusively through the company’s retail catalog. It also sells additional parts, supplies, accessories and training materials to create one-stop convenience for the taxidermist. www.mckenziesp.com
Gridiron Capital, LLC, headquartered in New Canaan, Connecticut, is a private equity firm focused on creating value by acquiring and building middle-market manufacturing, service and specialty consumer companies in the United States and Canada. The firm’s principals have historically achieved superior investment returns by employing a combination of strategic, operating and financial experience to provide portfolio companies with competitive advantages. Gridiron’s principals work closely with management teams to develop strategies for portfolio companies, as well as providing resources to execute business plans and build industry-leading companies. Additional information is available on the firm’s website at www.gridironcapital.com.
Thomas A. Burger Jr., Managing Partner, Gridiron Capital, LLC
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