Consumer Products Acquisitions in Montana

Private equity firm Borgman Capital has acquired Buck Bone Organics, a Bozeman, Montana-based maker of 100% natural antler chews, treats and toys for dogs. Terms were not disclosed; Borgman will partner with founders Jackie, Mark and Shane Steigleman to support the company's next phase of growth with senior financing provided by Highland Bank.

YETI Holdings, Inc. has agreed to acquire Mystery Ranch, a designer and manufacturer of load-bearing backpacks, bags and pack accessories serving outdoor, hunting, tactical and military markets. Mystery Ranch will continue to operate out of Bozeman, Montana and will work with YETI to integrate teams and functions; terms were not disclosed.

Los Angeles-based private equity firm Solace Capital Partners has acquired Sun Mountain Sports, a Missoula, Montana-based maker of golf bags, push carts and performance outerwear, from founder Rick Reimers. White Oak provided $40 million in term loan financing and a $10 million ABL revolver to support the transaction; Sun Mountain will remain headquartered in Missoula and be led by existing management with Ed Kowachek named CEO.

Salt Creek Capital, a San Francisco Bay Area private equity firm, has acquired OP/TECH USA, Inc., a Belgrade, Montana-based manufacturer and distributor of camera, musical instrument and industrial straps, slings and harnesses. The transaction represents a founder exit for owners Terry and Leslie Jackson and Salt Creek intends to build OP/TECH as a platform to expand product offerings and enter new markets under incoming CEO Richard Reuter.

Tender Corporation (doing business as Adventure Ready Brands), a PE-backed owner of outdoor consumer brands, acquired Bushwacker Backpack & Supply, the maker of the Counter Assault personal-defense product line. The acquisition expands Tender/Adventure Ready Brands' outdoor and personal-protection portfolio and will keep Counter Assault's manufacturing operations in Kalispell, Montana.