New York-based Bregal Partners has formed Arcus Hunting a platform to build out the bow hunting and archery accessories category. Arcus was created through the acquisition of Dead Down Wind, a provider of hunting bait.
According to sources familiar with the matter, the platform investment comes from Bregal Partners' inaugural fund – a $500 million vehicle that closed in 2012. The vehicle focuses on investments in mid-market businesses in the consumer, food and beverage, healthcare, and energy services sectors in North America.
The firm sees a significant growth opportunity in the sporting and nature enthusiast market. “We are actively engaged in the pursuit of additional investment opportunities, with particular focus on complementary brands in scents and lures, food attractants, targets, decoys, and related categories,” said Scott Perekslis, managing partner and co-founder of Bregal Partners.
Harris Williams acted as financial advisor to Bregal Partners and Arcus Hunting in the transaction.
In October, another part of Bregal – Bregal Sagemount launched a dedicated credit strategy to provide direct lending to potential portfolio companies, PEI reported at the time. The firm increased its commitment to Bregal Sagemount I to $650 million and hired Clayton Main from Goldman Sachs to run the strategy in addition to forming a specialty lending group within the firm.
Bregal investments range in size from $15-75 million. Transactions done in partnership with Bregal Investments could see investment sizes of up to $150 million. Target investments will be in growth sectors, including business services, software and technology-enabled businesses, information and media, financial services and healthcare.
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