The tremendous boost in demand for outdoor gear spurred by the pandemic, and the operational challenges that followed, have resulted in many smaller brand owners and founders looking for an exit. Nathan Pund, Houlihan Lokey’s industry group head for the outdoor & active lifestyle investment banking group, believes that valuations have never been higher, with strategic and financial buyers flush with cash competing for the most attractive companies, and some deals reaching LTM EBITDA multiples as high as 16x. It’s a sellers market, where owners are often being approached with multiple offers from PE firms and portfolio companies enticing them ... Log in to view full article.