Crosman Corporation’s New Equity Partner Will Be Wellspring Capital Management LLC

BLOOMFIELD, New York, (April 18, 2011) – Crosman Corporation announced today that Wellspring Capital Management LLC will be its new equity partner, replacing Pamlico Capital, its partner since 2007. The joint announcement was made by Crosman President and CEO, Ken D’Arcy and Wellspring Managing Partner, William F. Dawson, Jr. In the announcement, both companies said that the relationship was based on Crosman’s prospects for significant, long-term growth.

According to D’Arcy, Crosman is poised for the next big step in growth and needs an able partner ready to provide guidance and to help fund the effort. “The shooting sports industry is poised for consolidation,” said D’Arcy. “Crosman is ready to participate in this industry consolidation and Wellspring Capital believes we are an effective platform for both organic and acquisitive growth. Wellspring is strategic, rather than tactical, in their relationships with their companies. We’re delighted they appreciate our success, recognize our potential and are eager to help us reach our goals.”

Says Wellspring’s Dawson, “Crosman is a unique opportunity to invest in a platform with a strong and established brand,” he said. “We believe that the company is poised for significant growth, both through internal initiatives and through acquisition. Crosman maintains longstanding relationships with premier sporting goods retailers and, throughout its history, its brands, innovative products and quality service have fostered loyalty among retail partners and consumers. Ken D’Arcy and Crosman’s world-class management team have a proven track record. We are excited to collaborate with them to further enhance the value of the business.”

Crosman Corporation was founded in 1923 and has built its business on innovation and quality. It has become the most successful company in the airgun and airsoft categories, designing and manufacturing its products here and abroad, and marketing them around the world. During the past decade, the company has twice doubled its size.

Founded in 1995, Wellspring Capital Management is a leading middle-management equity firm managing more than $3 billion in private equity capital. The firm’s objective is to bring partnership, experience and value creation to each investment.

For further information on Crosman Corporation’s new equity partner or any Crosman, Benjamin, CenterPoint Hunting and Outdoors Precision Optics, or Game Face Airsoft products, visit the company’s Web sites at www.crosman.com, www.centerpointhunting.com, www.gamefaceairsoft.com, write to Laura Evans, marketing coordinator, Crosman Corporation, 7629 Routes 5 & 20, Bloomfield, NY 14469, email her at levans [at] crosman.com, or call her at (800) 7–AIRGUN (724-7486).

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4 Comments

  1. John M says:

    Hey All …

    I am not so sure I like this.

    You see, every since I was a little kid, there was Crosman. I dad went to them when I had questions he couldn’t answer. It was a Crosman that got me Shooting Merit Badge in the Boy Scouts. I saw their ads constantly in Boy’s Life. Am I the only one who grew up like this? My point is, we have been turning to Crosman all these years for product quality, long life and accurate, knowledgeable advice. That is what we buy from you.

    Now we have “new money” at Crosman and it is coming from a company whose only goal is to make money. Crosman is not more a commitment to this company than any other investment is to any other “investment capital” company. Crossman will soon be nothing but a tool to make money for them, if it is not just that already. Keep in mind that the customers that this investment company has to satisfy are standing tall on Wall Street, not laying down shooting. This has me worried.

    So, I just decided to be among the first to beg you all to not forget about us. We don’t want cotton candy puffs … we want serious stuff for what really amounts to small bore air shooters.
    Can you promise us that?

    John M

    • John,

      Thanks for taking time to post a comment.

      Crosman has had equity partners for many years and it is these partnerships that have enabled the company to bring revolutionary products to market like Nitro Piston-powered break barrels, affordable and accurate PCP guns in the Marauder and Discovery and now the biggest leap in airgunning in the Rogue .357.

      Being profitable is not evil. Having a goal of success should not be frowned upon. For Crosman, the only way to do this is to produce guns that folks want to shoot and provide excellent customer service after the purchase. What you request in commitment, we consider a necessity.

      We hear you and think you’ll like what we have in store.

  2. Top of the Morning Crosman & family.
    Went to your website yesterday & fell out of my chair!
    Great website…
    I’m grandpa & have 4 grandson’s.
    I grew up with my bb gun & moved up to Crosmans years ago.
    You are on Target with the future & your outstanding products.
    My grandson Patrick the III is 9 years old & has both his 12 shot Crosman rifle & pistol
    Both my Daughters learned to shoot as well & used your Crosman at ROTC range.
    Thanks Crosman
    Patrick
    USMCR

  3. Please just keep quality of the product #1 & keep producing the great guns as you have always done. I have a pumpmaster 760, 1377 modified with a steel breech and BSA red dot sight and a custom shop 2300 and dearly love all of them…
    Good luck to Crosman in the future which translate to fun for us airgunners…
    Thanks to a great company.
    Wally

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