Overton’s Sold to Linsalata Capital Partners

Boston-based investment firm Audax Group announced Monday that it has sold water sports merchant Overton’s to private equity firm Linsalata Capital Partners. Terms of the deal were not disclosed.

Mark Kirk, managing director of Cleveland-based Linsalata, says his firm has been looking to reenter the direct marketing field for the past year, since selling its stake in Chelmsford, MA-based multititle mailer Potpourri Group (see “Potpourri Sold to American Capital Strategies”).

Overton’s president/CEO Mark Metcalfe will continue to run Greenville, NC-based Overton’s. “Mark is doing a good job with the business, and we’re excited to be his partner,” Kirk says. In fact, Kirk adds, Metcalfe and the management team are buying back into Overton’s.

Under Audax’s ownership, Overton’s acquired boating electronics merchant Consumers Marine Electronics in August 2004 and watersports merchant Ski Limited in January 2005. Overton’s was purchased by Audax in August 2003.

According to its data card, Overton’s drops more than 14 million catalogs annually. It publishes two titles–Marine & Boating and Water Sports—in addition to the Consumers Marine Electronics book. It also operates two Overton’s stores.