Private equity investment firm Versa Capital Management formed Eastern Outfitters, which will continue the restructured and recapitalized operations of Eastern Mountain Sports (EMS) and Bob’s Stores. EMS and Bob’s will operate as business units of Eastern Outfitters, a new holding company with more than $400 million in annual multi-channel revenue. The company will be headquartered in Meriden, CT with a senior management team under the leadership of CEO Mark Walsh.

“Today is a new day for our customers, employees and partners,” said Walsh. “We move forward with a focused strategy and strengthened capital structure that will enable EMS and Bob’s to prosper. The management team and I would like to thank our trade and service partners for their unwavering support and for recognizing the value of our brands and their confidence in our strategic plan. We are excited to begin this new chapter and the growth trajectory we have outlined for our future.”

“We are pleased that this transaction provides EMS and Bob’s – two strong and growing retailers – the opportunity to continue providing exceptional service to their loyal customer bases,” said Gregory L. Segall, chairman and CEO of Versa. “We appreciate the significant support the companies received from their trade creditors. Their affirmation of the important positions EMS and Bob’s hold in their respective markets was a major catalyst for this successful and accelerated restructuring.”

EMS is the second largest U.S. multi-channel retailer of human-powered outdoor sports apparel and equipment with stores in the Northeastern and Mid-Atlantic states. Bob’s is a 60-year-old Northeastern retailer of value-oriented footwear, apparel and work-wear.