Engenuity Outdoor Equipment

Status: Current
Initial Investment: June 2022
Location: Burlington, ON; Mount Airy, GA; Akron, NY
Investment Type: Platform
Investment Industry: Consumer

Engenuity Outdoor Equipment is an industry leader with 5 unique product lines and hundreds of items distributed all over North America, specializing in outdoor power equipment, trailers, winches, snowplows, and auto accessories. Driven by innovation and excellent customer service, Engenuity Outdoor aims to deliver high-quality and dependable products to the hard-workers that need them.

Through a proactive, thesis-driven effort, Harvey & Company identified and engaged over 100 privately-held companies in the broader outdoor power equipment and prosumer accessories space. Harvey initiated the simultaneous acquisitions of DK2, Currahee Trailers, and SnowBear alongside a private investment group which resulted in the creation of Engenuity Outdoor Equipment. Engenuity represents several brands catered to the growing “prosumer” marketplace.

The platform leverages 5 facilities across the 4 brands: DK2 and SnowBear out of Ontario, Canada; Currahee Tailers, headquartered in Mount Airy, Georgia; and the latest acquisition, WoodMaxx, manufacturing domestically in Akron, NY.

March 2024 – Partnership with WoodMaxx

    • Woodmaxx is an industry leader in designing power take-off, skid steer, and standalone power equipment for commercial applications and homeowners alike.
    • The addition of WoodMaxx (~$20M revenue) results in combined group revenue of over $60 Million, bolstering the infrastructure and cross-selling opportunities to achieve long-term revenues in excess of $100 million.
    • As part of Engenuity, WoodMaxx will benefit from the group’s reach into traditional retail channels and dealers, while brining its engineering and product development expertise to DK2. WoodMaxx products and its substantial domestic manufacturing diversify Engenuity’s supply chain, reducing dependence on outsourced manufacturers, while adding procurement cost synergies.
    • The President and fellow shareholders of WoodMaxx are reinvesting a substantial portion of their proceeds into a double-digit minority stake in Engenuity.

Prior to Harvey & Company’s outreach, the owners of the brands which comprise Engenuity were operating highly successful, profitable and growing businesses with no capital constraints nor a desire to exit. However, following our introduction to a private equity group with industry leading operational and brand-building expertise, a significant partnership was built. Multiple entrepreneurs and their respective teams came together with the common goal of implementing the next level of growth as part of an organization that is greater than the sum of its parts. Harvey & Company continues to spearhead the aggressive add-on acquisition strategy.

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