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Simmons is a provider of high quality, innovative optical products. The acquisition includes a complete line of riflescopes and binoculars, as well as spotting scopes.
This acquisition continues the expansion of the family of outdoor brands under the Bushnell Outdoor Products umbrella. Since 1983 Simmons has provided the hunter and sportsmen performance and long-lasting value led by the Master Series(TM) line of riflescopes. For the hunter and the sports fan the Simmon's ProSport(R) compact and full size line of binoculars provides fully coated optics with edge-to-edge clarity.
"The Simmons line of optical products provides a strategic asset and a valuable brand to our company," said Joe Messner, President and CEO of Bushnell Outdoor Products. "We want to continue to provide value and service to the loyal Simmons customers and consumers that they have grown to expect over the past 30 years," added Messner.
"Acquisition of the Simmons line is consistent with MidOcean's strategy of expanding the Bushnell platform through select strategic acquisitions," said David Basto, a Principal at MidOcean Partners. "Our goal is to identify attractive brands which we can improve by leveraging Bushnell's strong distribution channel and management expertise."
The parties signed a definitive purchase agreement and the transaction closed on June 12, 2008. This marks the seventh acquisition Bushnell has made since 2001. The most recent was the purchase of the Kolpin(R) and Final Approach(R) brands in 2007. Prior to that, Michael's of
Bushnell is a privately held company funded by MidOcean Partners, a private equity firm with offices in
MidOcean Partners is a premier private equity firm focused on the middle market. MidOcean is committed to investing in high quality companies with stable market positions and multiple opportunities for growth. MidOcean utilizes a broad foundation of expertise in its focus industries and its transatlantic platform to create value for its investors and partners. For more information about MidOcean Partners, please visit www.midoceanpartners.com.