Big news in the outdoor industry today with the announcement that Confluence Watersports has been bought up by private equity firm, J.H. Whitney Capital Partners.
Though you likely haven’t heard of J.H. Whitney Capital Partners you have likely heard of some of their other privately owned companies including, Eastern Mountain Sports, Pure Fishing (who make Berkley and Trilene fishing line and Igloo Products (makers of coolers).
So what does this mean for Confluence Watersports? Mainly a major cash injection into the company so they can move to the next level of their business plan which includes a planned name change to Confluence Outdoor.
"We are very pleased to be brought into the J.H. Whitney family," said Sue Rechner, who will continue in her role as President & CEO of the newly formed Confluence Outdoor. "Confluence has always been an active and invested member of the outdoor industry, and we are fortunate that our new partnership with J.H. Whitney will enable us to build upon our success in paddlesports as a platform for future expansion."
Terms of the deal were not announced as both Confluence and J.H Whitney are privately owned.