PROVIDENCE, R.I. & GREENWICH, Conn.–(BUSINESS WIRE)–Revelyst, a collective of world-class maker brands that design and manufacture performance gear and precision technologies, and Strategic Value Partners, LLC, a global alternative investment firm with approximately $19 billion of assets under management, today announced that SVP-managed funds have completed their previously announced acquisition of Revelyst in an all-cash transaction based on an enterprise value of $1.125 billion.
“We are pleased to complete the transaction with SVP, which provides us with expanded resources to accelerate our GEAR Up transformation, advance our innovation efforts and grow our iconic brands,” said Revelyst CEO Eric Nyman. “We look forward to working with SVP and continue delivering top-tier products to customers while further building our market-leading position in the outdoor recreation industry.”
“We are excited to partner with Eric and the rest of the Revelyst team to drive growth across the company’s diverse, category-defining brands and capture the immense opportunities ahead,” said David Geenberg, Head of North American Corporate Investments at SVP. “We are strong believers in the strength of the Revelyst portfolio, along with the significant work underway to enhance the company’s platform and operations and drive innovation for customers. We will apply our operating resources and network to help unlock the full potential of Revelyst and propel it to new heights.”
Under the terms of the merger agreement for the SVP Transaction, Revelyst stockholders will receive $20.12 in cash for each share of Revelyst common stock they hold. With the completion of the SVP Transaction, Revelyst common stock has ceased trading on the New York Stock Exchange.
Morgan Stanley & Co. LLC acted as sole financial adviser to Revelyst, and Cravath, Swaine & Moore LLP acted as legal adviser to Revelyst. Moelis & Company LLC acted as sole financial adviser to the independent directors of Revelyst, and Gibson, Dunn & Crutcher LLP acted as legal adviser to the independent directors of Revelyst.
Goldman Sachs & Co. LLC acted as sole financial adviser to SVP, and Paul, Weiss, Rifkind, Wharton & Garrison LLP provided legal counsel. Houlihan Lokey assisted Revelyst and SVP in arranging the financing.
About Revelyst
Revelyst is a collective of world-class maker brands that design and manufacture performance gear and precision technologies. Our category-defining brands leverage meticulous craftsmanship and cross-collaboration to pursue new innovations that redefine what is humanly possible in the outdoors. Portfolio brands include Foresight Sports, Bushnell Golf, Fox, Bell, Giro, CamelBak, Bushnell, Simms Fishing and more. For more information, visit our website at www.revelyst.com.
About SVP
SVP is a global alternative investment firm that focuses on special situations, private equity, opportunistic credit and financing opportunities. The firm uses a combination of sourcing, financial and operational expertise to unlock value in its portfolio companies. Today SVP manages approximately $19 billion in assets under management, and since inception, has invested more than $50 billion of capital, including more than $18 billion in Europe. The firm, established by Victor Khosla in 2001, has over 200 employees, including more than 100 investment professionals, across its main offices in Greenwich (CT) and London, and a presence in Tokyo. Learn more at www.svpglobal.com.
