Confluence Watersports has been acquired by J.H. Whitney Capital Partners, a private equity firm based out of New Canaan, Conn. The company will be re-named Confluence Outdoor, and while company sources say the brand “will continue in its commitment to the watersports market,” there will also be “an expanded vision to grow the business into a full-service outdoor recreation company.”
Confluence’s operations and facilities – including manufacturing, design and engineering, research and development, customer service, sales and marketing teams – will remain in its current Greenville, S.C., location. Sue Rechner will continue in her role as president & CEO of the newly formed Confluence Outdoor. Terms of the deal were not announced.
J.H. Whitney was formed in 1946 and is one of the country’s first private equity firms. It invests principally in small and middle market buyouts of companies with revenues of $50 to $500 million. The firm’s portfolio contains companies across consumer, technology and healthcare markets including Eastern Mountain Sports, newly acquired Igloo, US Bioservice, Precision for Medicine, Amisys Synertech and FNF Construction, among several others.
“We have had our eye on a partnership with Confluence for years,” said Paul Vigano, senior managing director at J.H. Whitney. “The company has been such a significant and flourishing player in this space, and we have an immense respect for Sue and her team.”