SALT LAKE CITY, March 15, 2016 /PRNewswire/ -- ACG Utah has a long tradition of honoring dealmakers in the Utah business community—those who have successfully led the charge in driving growth in their organizations. With a focus on "Igniting Growth," ACG Utah reviewed the middle-market M&A transactions that occurred in Utah during 2015, seeking deals that involved Utah companies, Utah capital providers, Utah lenders and Utah advisors.
One deal that stood out to the judging panel was Vista Outdoor's acquisition of CamelBak Products, LLC. On July 27, 2015 Vista Outdoor announced it had entered into a definitive agreement to acquire CamelBak. Under the terms of the transaction, Vista Outdoor paid $412.5 million, subject to a customary working capital adjustment, utilizing cash on hand and borrowings under its existing credit facilities.
"CamelBak helps strengthen and expand Vista Outdoor's presence in the outdoor sports and recreation market," said Mark DeYoung, Vista Outdoor's Chairman and CEO. "Their highly recognizable and respected products are used by all manner of outdoor sports enthusiasts and complement every activity where Vista Outdoor's products are currently used. This acquisition will help our company provide an even broader portfolio of trusted brands for our consumers."
"It certainly is exciting to see deals such as Vista Outdoor's CamelBak transaction and the direct impact that it has on our state economy in igniting further growth," said Katina Curtis, President of ACG Utah. "We are pleased to recognize the accomplishments Mark DeYoung of Vista Outdoor with the 2016 ACG Utah Dealmaker of the Year Award. "
CamelBak was founded in 1989 and is headquartered in Petaluma, California. The company employs approximately 300 people and will be integrated into the Outdoor Products segment of Vista Outdoor. CamelBak was previously a subsidiary company of Compass Diversified Holdings and will remain headquartered in Petaluma.
Morgan Stanley served as transaction and financial advisor and Cravath, Swaine & Moore LLP served as legal advisor to Vista Outdoor in connection with the transaction.
ABOUT VISTA OUTDOOR
Vista Outdoor is a leading global designer, manufacturer and marketer in the growing outdoor sports and recreation markets. The company operates in two segments, Shooting Sports and Outdoor Products, and has a portfolio of well-recognized brands that provide consumers with a range of performance-driven, high-quality and innovative products in the ammunition, firearms and outdoor products categories. Vista Outdoor products are sold at leading retailers and distributors across North America and worldwide. Vista Outdoor is headquartered in Utah and has manufacturing operations and facilities in 10 U.S. States, Puerto Rico, Mexico and Canada along with international sales and sourcing operations in Canada, Europe, Australia, New Zealand and Asia. For news and information, visit www.vistaoutdoor.com or follow us on Twitter @VistaOutdoorInc and Facebook at www.facebook.com/vistaoutdoor.
SOURCE ACG Utah