Revelyst (a collective of maker brands that design and manufacture performance gear and precision technologies) and Strategic Value Partners (a global alternative investment firm with about $19 billion of assets under management) 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.
Under the terms of the merger agreement for the SVP deal, 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 acted as sole financial adviser to Revelyst, and Cravath, Swaine & Moore acted as legal adviser to Revelyst. Moelis & Company 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 acted as sole financial adviser to SVP, and Paul, Weiss, Rifkind, Wharton & Garrison provided legal counsel. And Houlihan Lokey assisted Revelyst and SVP in arranging the financing.
KEY QUOTES:
“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. 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.”
– Revelyst CEO Eric Nyman
“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. 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.”
– David Geenberg, Head of North American Corporate Investments at SVP
