Kohlberg & Company, LLC’s acquisition of Winter Sports businesses of Newell Brands Inc.


Newell Brands Inc. has signed a definitive agreement to sell its Winter Sports businesses, inclusive of Völkl®, K2®, Marker®, Dalbello®, Madshus®, Line®, Full Tilt®, Atlas®, Tubbs®, Ride® and BCA® to Kohlberg & Company, L.L.C., a leading private equity firm specializing in middle-market investing.

The sale of the Winter Sports businesses is part of Newell Brands’ ongoing strategy to accelerate growth by simplifying and strengthening our portfolio.

Gross proceeds from the divestiture are expected to be $240 million, subject to customary working capital and transaction adjustments. Net sales for the divested business were approximately $330 million during 2016 and annual adjusted EBITDA for the divested business is approximately $25 million.

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

Goldman Sachs & Co. LLC acted as financial advisor to Newell Brands on the transaction.

Jones Day is advising Newell Brands Inc. on the deal with a team led by Erik Belenky.

Involved fees earner: Erik Belenky – Jones Day;

Law Firms: Jones Day;

Clients: Newell Brands Inc.;

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Author: Ambrogio Visconti