Brunswick divests bowling products business
Brunswick Corporation has sold its locally based Brunswick Bowling Products business to an out-of-state private investment firm.
Lake Forest, Ill.-based Brunswick Corporation announced last week the sale of the Muskegon-based business unit to BlueArc Capital Management in Atlanta.
BlueArc Capital partnered with Gladstone Investment Corporation, a publicly traded business development company in McLean, Va., Capitala Finance Corporation, a business development company in Charlotte, N.C., and members of executive management in the buy out of the business.
Terms of the deal were not disclosed.
"Positive sign" for industry
Brunswick Bowling Products’ headquarters will remain in Muskegon, with manufacturing operations in Szekesfehervar, Hungary and Reynosa, Mexico, according to officials involved in the transaction.
Michael Roher, managing partner of BlueArc, called Brunswick Bowling Products a “great fit” for BlueArc, which he said is committed to “investing in well established, market-leading companies and helping them innovate and grow over time.”
Dustan McCoy, chairman and CEO of Brunswick, said he is “pleased that the buyers are long-term investors” and that the Brunswick “name and all that it stands for will carry on and continue to set the standard in the bowling industry.”
“Throughout the sale process, BlueArc was the obvious choice of our management team,” agreed Brent Perrier, CEO, Brunswick Bowling Products. “Their commitment to our business is a very positive sign to the entire industry.”
Brunswick has been a leader in the recreation industry for more than 165 years.
Brunswick is made up of brands that serve the marine, fitness and billiards industries.
The company was founded in 1845 to make billiards tables and diversified into bowling products in 1890.