Velocity Outdoor Inc. (“Velocity Outdoor” or the “Company”), an international designer, manufacturer and marketer of branded hunting, archery and shooting sports products, today announced the appointment of Kelly Grindle as President and Co-Chief Executive Officer. Mr. Grindle will be working alongside Tom McGann, Executive Chairman and Co-Chief Executive Officer, and relocating to Bloomfield, New York.
With more than 20 years of leadership experience building outdoor brands, Mr. Grindle brings significant expertise in defining market-focused and competitive positioning and aligning businesses to deliver growth. Mr. Grindle most recently served as President and Chief Executive Officer of Hatteras/Cabo Yachts, a builder of luxury motor and sportfishing yachts, where he led the company’s go-to-market strategy, developed and launched new models and improved overall operating efficiency. Before his time at Hatteras, Mr. Grindle held various senior executive positions in the outdoor industry, including over 16 years of senior roles at Johnson Outdoors Inc., a producer of outdoor recreational products, where he ultimately became President, Outdoor Products.
“I’m extremely excited to welcome Kelly to Velocity Outdoor,” said Mr. McGann. “Kelly is a passionate outdoorsman with an outstanding track-record of transforming and growing outdoor businesses. We are fortunate to attract someone of Kelly’s stature and experience, and I am very much looking forward to working with him to grow the Velocity Outdoor platform.”
“Velocity Outdoor has an impressive team, strong brands and a supportive parent company,” said Mr. Grindle. “This is an exciting time for the company and I am thrilled to partner with Tom to take Velocity to new heights.”
About Velocity Outdoor
Velocity Outdoor is a leader in the hunting and shooting sports market, offering a diverse product lineup of airguns, archery products, optics, and related accessories marketed under the Crosman and Benjamin Airguns, Ravin Crossbows, CenterPoint Archery and Optics, LaserMax, and GameFace Airsoft brands. To learn more about Velocity Outdoor, please visit www.velocity-outdoor.com.
Velocity Outdoor is a subsidiary of Compass Diversified Holdings (NYSE: CODI) (“CODI”). CODI owns and manages a diverse family of established North American middle market businesses. CODI maintains controlling ownership interests in each of its subsidiaries in order to maximize its ability to impact long term cash flow generation and value. The Company provides both debt and equity capital for its subsidiaries, contributing to their financial and operating flexibility. CODI utilizes the cash flows generated by its subsidiaries to invest in the long-term growth of the Company and to make cash distributions to its shareholders. To learn more about CODI, please visit www.compassequity.com.
This press release may contain certain forward-looking statements, including statements with regard to the future performance of CODI. Words such as “believes,” “expects,” “projects,” and “future” or similar expressions, are intended to identify forward-looking statements. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions. Certain factors could cause actual results to differ materially from those projected in these forward-looking statements, and some of these factors are enumerated in the risk factor discussion in the Form 10-K filed by CODI with the SEC for the year ended December 31, 2018 as retrospectively revised and recast through the Current Report on Form 8-K filed on November 13, 2019, and other filings with the SEC. Except as required by law, CODI undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.