Houlihan Lokey Advises BOTE

Houlihan Lokey is pleased to announce that BOTE, LLC, a portfolio company of Prairie Capital, LP, has been acquired by Kent Water Sports Holdings, LLC, a portfolio company of Seawall Capital, LLC. In conjunction with the transaction, Kent Water Sports announced a rebrand to Kent Outdoors, signaling the company’s expanded focus on a growing portfolio of outdoor brands.

BOTE is a watersports brand driven by a singular mission: to stand apart through industry-shaping innovation, fresh ideas, and simplicity to create a product that defines a lifestyle. BOTE pushes the boundaries of technology and style, stirring the soul and inspiring adventure. Born from stand-up paddle boards and now pioneering inflatable kayaks, floating dock systems, and more, BOTE continues to innovate and embrace individuality.

Founded in 1997, Prairie Capital is a private equity firm based in Chicago that focuses on prioritizing and executing the necessary company-building investments required to scale the firm’s portfolio companies, while providing thought partnership and strategic guidance at critical junctures along the way. The firm seeks to make investments in the business services, consumer, education, healthcare, industrial, and technology sectors.

For more than 60 years, Kent Outdoors has helped the outdoor industry’s leading brands scale their passions. The business was born on the water, focusing on brands that help consumers not just enjoy the great outdoors, but revel in family, friends, and experiences out there. Kent Outdoors provides rock-steady support and resources to its family of brands and their founders so they can be free to create, build, and connect with the people who matter most: people living and breathing all types of outdoor adventures.

Seawall Capital is a middle-market private equity firm focused on investing in companies that have built strong connections to their end consumers. The firm’s investment strategy centers on partnering with founder-led businesses that deliver amazing products and services that people love and trust. Seawall Capital’s principal investment team has a successful track record of helping founders, management teams, and partners achieve their long-term goals and objectives.

Houlihan Lokey served as the exclusive financial advisor to BOTE and assisted in structuring and negotiating the transaction on its behalf.

This deal represents Houlihan Lokey’s capabilities in the direct-to-consumer and active outdoor lifestyle space. This transaction also highlights the firm’s ability to leverage customer data and analytics to underwrite exceptional growth stories.