Martin Archery 2014 and Beyond
We still have many folks ask what is going on with Martin Archery so for those who do not know.
October of 2013 Martin Archery was acquired by the Diversis Capital LLC.
Diversis Capital LLC, a Los Angeles-based private equity firm that acquires controlling interests in mature businesses, particularly those that are in distress or require operational assistance, is pleased to announce that it has completed the acquisition of the assets of Martin Archery, Inc. through its affiliate Martin Sports, Inc.
Martin Archery, Inc., based in Walla Walla, Washington, is a long-standing producer of traditional, compound, and take-down bows and bow accessories. Manufactured in the US, Martin’s archery products are suited for novice and expert archers alike and are used for hunting, in shooting events and other competitive events. Founded by Olympic Medalist and Archery Hall of Famer Gail Martin in 1951, the Company has a long track record of innovation and quality which has helped establish a loyal and deep customer base. Through its storied history, Martin bows have been featured in aspects of popular culture ranging from Hollywood blockbuster films to the 1992 Barcelona Olympics, where a Martin bow was used to light the Olympic torch.
Diversis has assembled an industry-best team of executives, several of whom will be joining over the coming year, to help grow the business and continue to provide top quality products to the archery industry. Rich Weatherford, whom Diversis hired to be the new Chief Executive Officer of Martin Sports, said, “I am excited to be working with Diversis Capital on the acquisition and successful transformation of Martin Archery. I believe my experience and passion for operational excellence and business turnarounds, along with Diversis’ hands-on involvement and financial resources, will show our current and future customers that not only is the Martin brand still vibrant, but that we are going to be stronger than ever as we launch the next phase of this storied brand.”
Critical to the deal was the assistance of the Port of Walla Walla. “Walla Walla has been home to the iconic Martin Archery bow manufacturing company for over 60 years. We are pleased Martin Sports, Inc. wants to continue this important legacy in Walla Walla. They have assembled a great team to take the business to a new level,” stated Paul Schneidmiller, President of the Port of Walla Walla Commission.
Kevin Ma, Managing Director of Diversis Capital, said, “We fully expect the revitalized Martin Archery to reach new levels of success in an industry that is currently booming. Our investment will focus on bringing the highest levels of quality and innovation to the product lines and improving delivery and customer service. An A+ management team was critical for us, and we have carefully assembled it, with our most important criteria being people who are truly passionate about bow hunting and target shooting. We intend to improve on the Company’s long history of success while continuing to create a product that everyone can enjoy for decades to come.”
Ron Nayot, Managing Director of Diversis Capital, also added, “This is an important transaction for Diversis as an emerging private equity firm. In Martin Archery, we saw a business that had tremendous potential but had been experiencing both financial and operational constraints. Through this acquisition, we anticipate showcasing our operational expertise and turnaround capabilities to transform Martin Archery into a dominant player in the archery market. With our in-house capabilities coupled with our deep bench of operational advisors and industry experts, we are excited to continue evaluating and transacting on other complex opportunities that come our way.”
The great news is coming soon when the Martin Archery unveils it's new 2015 line up of bows so stayed tuned in the up and coming months