Friday, January 20, 2017 01 :30 PM
Kwik Tek Inc., a Denver-based maker of sports equipment, was bought by an investment group led by private-equity firm Falconhead Capital Lie and M3
Outdoor Investments. Terms of the deal weren't disclosed. "I am excited to be partnering with Falconhead Capital and M3 Outdoor," Aaron Kramer, president and chief executive of Kwik Tek, said in a statement. "We look forward to building on our past successes and the opportunities that lay ahead." Kwik Tek's products include towables, inflatables, life jackets, wakeboards, kneeboards, snowshoes, trekking poles, snow sleds, pool floats, lounge items and related accessories. Airhead, Sportsstuff and Yukon Charlie's are Kwik Tek brands.
"Kwik Tek offers a strong platform to innovate and enhance its already exceptional brands," David S. Moross, chairman and CEO of New York based Falconhead Capital, said in a statement. "This will provide the foundation to accelerate growth and offer substantial upside through various paths of expansion."
Investment bank Lazard Middle Market Lie acted as exclusive financial adviser to Kwik Tek. The law firm Greenberg Traurig Lip provided legal counsel to Falconhead Capital. JPMorgan provided senior revolver financingfor the transaction and LBC Credit Partners provided senior-term financing .