MacNeill Pride Group (MPG), the Brentwood, Tennessee-based portfolio company of private equity firm Centre Partners, has bolstered its outdoor offerings with the acquisition of camping gear brand Klymit.
The company on Friday announced it has added the Kaysville, Utah-based outdoor brand to its portfolio for an undisclosed amount.
Formed in 2007, Klymit designs and manufactures outdoor sleeping pads, pillows, blankets, tents, sleeping bags, and other camping accessories. The company鈥檚 gear is 鈥渄esigned and tested in the Wasatch mountains of Utah to help customers 鈥楽leep 国产吃瓜黑料鈥 comfortably,鈥 as its tagline claims.
MPG saw the addition as a logical next step for its rapidly expanding collection of outdoor assets which includes GCI Outdoor and ORCA.
鈥淜lymit鈥檚 distinctive outdoor products, authentic brand, and innovation-focused culture are a natural fit with our growing platform of outdoor brands,鈥 said Keith Bornholtz, CEO of MPG. 鈥淭his acquisition expands our portfolio into new, complementary markets, enabling our brands to meet multiple consumer needs as they spend more time outside. This clearly furthers our goal of providing consumers with brands that enhance every outdoor experience so they want to come back again and again.鈥
Added Cory Tholl, president and CEO of Klymit: 鈥淚 am thrilled that Klymit will join MPG鈥檚 portfolio of innovative outdoor brands. This partnership will enable Klymit to reach more outdoor enthusiasts with the ultimate mission of getting more people outside with the people they care about.鈥
MPG said Tholl will remain with the company.
The Klymit acquisition follows another big outdoor addition made by MacNeill Pride Group (MPG) in recent months. On May 7, MPG announced it had acquired GCI Outdoor, the quarter-century-old maker of camping tables, chairs, and other outdoor equipment.
MPG acquired Orca Coolers in 2020. All three of the company鈥檚 outdoor brands鈥擪lymit, GCI Outdoor, and Orca鈥攁re exhibiting at this year鈥檚 Outdoor Retailer Summer show in Denver, Colorado.
The announcement comes as private equity firms continue to show interest in the outdoor market and eagerly deploy dry powder for innovative gear makers in this space. Notable deals of late include Mammut being sold to the PE firm Telmos Capital and Superfeet being acquired by Westward Partners.