Sospenders
A Division of WaterMark Paddlesports, Inc.
Arcata, California
November 2004

Bengur Bryan & Co., Inc. advised WaterMark Paddlesports, Inc. in the sale of its Sospenders Division, its inflatable personal flotation device business, to the Stearns Division of K2 Inc. (NYSE: KTO).

WaterMark is a portfolio company of Arcapita, a $4 billion Atlanta-based private equity firm. Bengur Bryan advised WaterMark on its financial and strategic alternatives relating to its Sospenders Division and subsequently initiated and negotiated the transaction.

Sospenders is the world’s leading manufacturer and developer of inflatable personal flotation devices (PFDs). Sospenders PFDs are used worldwide by active sportsmen including yachtsmen, hunters and fishermen and also by commercial, military and law enforcement professionals that require a PFD that provides both comfort and safety.

The Stearns Division of K2 Inc., located in Sauk Rapids, Minnesota, is a leading manufacturer and marketer of marine and outdoor sporting goods and industrial products including Shakespeare and Pflueger fishing gear, Stearns flotation devices and Shakespeare marine radio antennas.

K2 Inc. is a $1.2 billion, Carlsbad, California-based, premier, branded consumer products company with a portfolio of leading brands in the sporting goods and recreational products industries. Its products include ski, skateboard, outdoor marine, hunting and fishing accessories; outdoor apparel; paintball products; baseball and softball equipment; and ATV accessories.

Read the story in Sporting Goods Business.