ATLANTA — Outdoor lifestyle retailer Gander Mountain Company has acquired Overton’s, Inc., a Greenville, N.C.-based direct marketer of specialty water sports and related marine accessories, for approximately $70 million in cash from private equity firm Linsalata Capital Partners.
The purchase price includes the repayment of Overton’s existing indebtedness at closing, and the deal was financed through the issuance of $24 million in Gander Mountain common stock at a purchase price of $5.90 per share, a $40 million term loan from Bank of America and borrowings under the company’s revolving credit facility.
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