Philadelphia -- Versa Capital Management, a Philadelphia-based private equity investment firm, has acquired Eastern Mountain Sports (EMS), effective immediately. Terms of the deal were not disclosed.
Mark Walsh, a Versa principal and chairman of Bob’s Stores, a northeastern apparel retailer that is part of the Versa portfolio, will serve as chairman of the board of EMS, which operates 69 stores in 12 Eastern states.
“We are pleased to welcome EMS into our organization and to further expand Versa’s retail interests,” said Gregory L. Segall, CEO of Versa Capital, in a statement. “EMS brings a 45-year history of marketing products for serious outdoor enthusiasts; as such, it is a natural fit for our existing expertise in both the retail and outdoor sectors. With a new capital structure and the other resources that Versa can offer, EMS will have many new opportunities to develop its branded products and better serve its customers.”
Plans call for exploring opportunities for Bob’s Stores and EMS to collaborate, and for maintaining all of the current EMS stores. No major initiatives will be considered until after the holiday season.