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PNC Financial Services : Harris Williams & Co. Advises Primos, Inc. in its Sale to Bushnell Outdoor Products, Inc.

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05/01/2012 | 07:35pm CEST

Harris Williams & Co., a preeminent middle market investment bank focused on the advisory needs of clients worldwide, announces the sale of Primos, Inc. (Primos), a leading manufacturer and distributor of hunting products, to Bushnell Outdoor Products (Bushnell), a portfolio company of MidOcean Partners (MidOcean). Primos was a portfolio company of Svoboda Capital Partners LLC (SC). Harris Williams & Co. acted as the exclusive advisor to Primos. The transaction closed on April 30, 2012 and was led by Glenn Gurtcheff and Ryan Budlong in the firm's Consumer Group, along with Cheairs Porter from the firm's Richmond office.

"The iconic Primos brand has been a leading name in the hunting industry for over 35 years and is known for providing innovative products that allow hunters to be successful in the field. The company has consistently been successful expanding into new and adjacent product categories as a result of consumers' loyalty to and trust in the Primos brand," said Glenn Gurtcheff, a managing director at Harris Williams & Co. and the head of the firm's Consumer Group. "We are pleased to have found a partner for the company that shares management's vision for the future and expect Primos to continue its category leading position in partnership with Bushnell Outdoor Products."

"Primos has developed its leadership position through a legacy of innovation and commitment to providing hunters with high quality products. This transaction highlights investors' continued appetite for high quality enthusiast assets," added Cheairs Porter, a managing director at Harris Williams & Co.

Primos is the world's leading innovator, manufacturer and marketer of Primos branded hunting accessories for a blue chip base of North America's leading outdoor retailers. The company's products are renowned amongst hunting enthusiasts for innovative designs and features, quality of craftsmanship, consistency of performance and ease-of-use.

SC is a Chicago-based private equity firm with over $250 million of capital under management. Founded in 1998, SC identifies, invests in and helps build excellent businesses in its targeted business niches: consumer products and services, value-added distribution, niche manufacturing and business services. SC typically invests equity of $10 million to $25 million per company in leveraged buyouts, recapitalizations and growth equity opportunities.

Bushnell Outdoor Products is a global manufacturer and marketer of branded consumer products based in Overland Park, Kansas. Bushnell Outdoor Products sells its products worldwide under the Bushnell®, Tasco®, Serengeti®, Bollé®, Uncle Mike's Law Enforcement®, Stoney Point®, Hoppe's®, Butler Creek®, Cébé®, Millett®, Uncle Mike's®, Night Optics USA®, Final Approach® and Simmons® brand names.

MidOcean 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 to create value for its investors and partners.

Harris Williams & Co. (www.harriswilliams.com), a member of The PNC Financial Services Group, Inc. (NYSE:PNC), is a preeminent middle market investment bank focused on the advisory needs of clients worldwide. The firm has deep industry knowledge, global transaction expertise, and an unwavering commitment to excellence. Harris Williams & Co. provides sell side and acquisition advisory, restructuring advisory, board advisory, private placements and capital markets advisory services.

Harris Williams & Co.'s Consumer Group has completed over 100 transactions across a variety of verticals including food, beverage and agribusiness; restaurants and retail; branded and private consumer products; and consumer services. For more information on our consumer experience, please contact Glenn Gurtcheff, Tim Alexander, Jeff Cleveland, Ryan Budlong or Brant Cash at +1 (612) 359-2700.

Investment banking services are provided by Harris Williams LLC, a registered broker-dealer and member of FINRA and SIPC, and Harris Williams & Co. Ltd, which is authorised and regulated by the Financial Services Authority. Harris Williams & Co. is a trade name under which Harris Williams LLC and Harris Williams & Co. Ltd conduct business.

For general release inquiries, please contact Kimberly Baker, marketing director, at +1 (804) 648-0072.

Harris Williams & Co.
Kimberly Baker, marketing director, +1 804-648-0072

© Business Wire 2012
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Financials ($)
Sales 2016 15 189 M
EBIT 2016 5 346 M
Net income 2016 3 612 M
Debt 2016 -
Yield 2016 2,25%
P/E ratio 2016 13,13
P/E ratio 2017 12,53
Capi. / Sales 2016 3,05x
Capi. / Sales 2017 2,96x
Capitalization 46 330 M
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PNC Financial Services Gro Technical Analysis Chart | PNC | US6934751057 | 4-Traders
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Mean consensus OUTPERFORM
Number of Analysts 30
Average target price 96,8 $
Spread / Average Target 2,7%
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William Stanton Demchak Chairman, President & Chief Executive Officer
Steven C. van Wyk Executive VP, Head-Operations & Technology
Robert Q. Reilly Chief Financial Officer & Executive Vice President
Richard B. Kelson Independent Director
Dennis F. Strigl Independent Director
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