Kohlberg & Co. Buys K2, Marker, Multiple Other Brands From Newell

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Kohlberg & Co. Buys K2, Marker, Multiple Other Brands From Newell

SAM Magazine—Hoboken, N.J., May 26, 2017—Kohlberg & Company has purchased K2, Marker, Dalbello, and the rest of the winter sports businesses formerly owned by jarden brand esize Newell Brands Inc. Gross proceeds to Newell from the divestiture are expected to be $240 million, subject to customary working capital and transaction adjustments.

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The full brand portfolio includes Völkl, K2, Marker, Dalbello, Line, Full Tilt, Ride, Madshus, Atlas, Tubbs, and BCA. The brands recorded net sales of approximately $330 million during 2016; annual adjusted EBITDA was approximately $25 million, according to Newell.

“We are pleased with the outcome as we know that Kohlberg & Company, LLC is the right owner for our winter sports businesses,” K2 Sports chief Robert Marcovitch said in a letter to business partners. “Kohlberg brings many years of successful experience investing in leading consumer branded companies, and with Kohlberg we will have an owner who is exclusively focused on helping our company achieve its full potential.”

The transaction is expected to close late in the second quarter or early in the third quarter of 2017, subject to closing conditions, including regulatory approval.

Kohlberg & Company is a leading private equity firm specializing in middle-market investing.