Sell-side M&A for outdoor and active lifestyle businesses.

Advice from someone who rides, paddles and camps, with the buyer relationships to match.

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TRACK RECORD

70+ outdoor and active lifestyle deals since 2018.

Deals from $5M to $150M, with buyers and sellers in the USA, Canada, the UK, Italy, Sweden, the Netherlands, Taiwan, New Zealand and Australia. Our direct network reaches more than 2,000 private equity firms and family offices, and the strategic buyers and holding companies across outdoor and active lifestyle, including Thule, Fox Factory, SRAM, Shimano, Pon.Bike, Garmin, Amer Sports, VF Corporation, Columbia, Oberalp, Tecnica, Elevate Outdoor Collective, YoungOne, Deckers, Wolverine Worldwide, Thor Industries, Winnebago, Lippert, Dometic, Polaris, BRP, Brunswick, Adventure Ready Brands, Gathr Outdoors, GSM Outdoors, Pradco, American Outdoor Brands, Revelyst, Clarus, Exxel Outdoors, Johnson Outdoors, Pentland, Helen of Troy, Callaway, Implus, United Sports Brands, Outside, REI, Bass Pro and Decathlon.

If it’s sold at REI, Bass Pro, West Marine, Camping World or your local run shop, we know the buyers. We cover cycling, e-bikes, bike components and accessories, bikepacking, camping, hiking and backpacking, overlanding, adventure vans, RVs, campers and trailers, rooftop tents, climbing, ski and snowboard, backcountry, trail running, running apparel and footwear, fitness equipment, yoga, endurance sports, paddle sports, kayaks and SUP, surf, swim, fishing, hunting, marine and boating, motorsports and powersports, outdoor apparel and footwear, optics and eyewear, travel gear, camp kitchen and cookware, hydration, golf, pickleball and racquet sports, skateboarding, outdoor events and guiding, and outdoor e-commerce and retail.

 
Russell Cree packrafting with his bike on Lake Powell

Where we work

  • Bikepacker on a New Zealand forest trail with an Aeroe bag

    Cycling

    • Aeroe → Thule · Tailfin → MVC Group · PowerTap → SRAM · OneUp Components → Pon.Bike

  • TAXA Outdoors Cricket camper at dusk

    Camp, Overland & RV

    • TAXA Outdoors → L Catterton · Off Highway Van → Outdoor Adventure Group · Cascadia Vehicle Tents → Gathr Outdoors · Flatline Van Co → Horsepower Automotive

  • Backcountry skier with G3 skis and skins

    Snow & Mountain

    • G3 Genuine Guide Gear → Canadawide Sports · WNDR Alpine · StoreYourBoard → Townsend Street Capital

  • Two runners in Oiselle on a coastal trail

    Run, Fitness & Wellness

    Oiselle + Janji · Skirt Sports → Zooma · The Run Experience

  • Angler rigging a fishing kayak with RAILBLAZA mounts

    Water, Paddle & Fish

    RAILBLAZA → Kayak Distribution · Recur Outdoors → Catch Co. · Fisher Guiding → Boatsetter · Eddyline Kayaks

  • Hiker in Western Rise apparel above a mountain town

    Apparel & Footwear

    Ride Concepts → Fox Factory · Pistil Designs → Fox River Mills · BlackStrap → Spring Capital Group · Fasthouse · Western Rise

  • Rider on a Dust Moto electric dirt bike in Central Oregon pines

    Moto & Powersports

    Dust Moto → LiveWire · Giant Loop

A man setting up a pop-up camper at his campsite

Sell-Side M&A

We help founders sell the company they built, from kick-off to closing, in five stages:

01 Prepare. Get the financials, data room and story diligence-ready before a buyer sees anything.

02 Position. Build the CIM and equity story around brand, channels, IP and growth.

03 Market. Take it confidentially to the strategics, private equity and family offices most likely to pay up.

04 Negotiate. Run a competitive process to drive price and terms, then pick the right LOI.

05 Close. Manage diligence, the purchase agreement and funds flow with your attorneys to closing.

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A mom and daughter enjoy a slice of watermelon after a bike ride

Buy-Side M&A

Bell Lap advises companies and institutional investors on acquiring strategic assets in the outdoor recreation and active lifestyle industries. Bell Lap has extensive and proprietary industry knowledge and experience, and a wide network of relationships which allows us to quickly develop strategies and identify appropriate M&A opportunities for our clients.

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  • A person holding a stand-up paddleboard, standing on a rocky surface beside a body of water during sunset or sunrise, with a colorful sky and distant mountains.

    “ Their experience in all aspects of the business landscape has been an incredibly valuable resource for our brand. ”

    ⌙ Reggie // Paddle Sports Industry CEO

  • A person wearing a helmet and sunglasses riding a mountain bike downhill through a dry, grassy trail with mountains in the background under a blue sky.

    “ We are excited to move forward and get going with the next steps. All-in-all, everyone involved was great to work with! Should be a great journey. Thanks for the lead-out! ”

    ⌙ Ryan // Outdoor eCommerce CEO

  • A black van driving on a sandy desert landscape with dust clouds and scattered trees at sunset.

    “ We're also incredibly grateful for your support and for paving the way for this opportunity. ”

    ⌙ Robbin // Overlanding Business Owner

  • A woman with dreadlocks smiling while holding her bicycle, standing outdoors during sunset.

    “ I appreciate the time spent learning about my values and my business goals, and then creating unique solutions without imposing other’s philosophies on our business. ”

    ⌙ Jenn // Founder in the Cycling Industry

  • A man riding a bike while a child in a car seat is attached to the back at a playground.

    “ Their expertise and knowledge of the industry allowed us to effectively identify high value prospects from the onset. "

    “An extremely valuable resource as we were quickly looking to find the right partner in the outdoor cycling space for our action sports platform.”

    ⌙ Private Equity Managing Partner //

Our Experience

Our team is honored to have worked with many authentic and iconic brands:

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Latest from Bell Lap

  • Bikepacker on a New Zealand forest trail with an Aeroe bag

    Aeroe joins Thule

    • Case study · October 2026. New Zealand bikepacking brand Aeroe finds a home with Thule, the global leader in carrying solutions.

    Read the case study
  • Rider on a Dust Moto electric dirt bike in Central Oregon pines

    Dust Moto joins LiveWire

    • Case study · 2026. Electric off-road motorcycle startup acquired by NYSE-listed LiveWire.

    Read the case study
  • Off Highway Van adventure van on a mountain ridge

    Off Highway Van joins Outdoor Adventure Group

    • Case study · June 2025. Salt Lake City adventure van builder becomes the first U.S. brand in TriWest Capital’s Outdoor Adventure Group.

    Read the case study
Russell Cree, founder of Bell Lap Advisors

Founder-led, from the first call to closing.

At a bigger bank, a senior partner wins the pitch and hands your deal to a junior team. At Bell Lap, our founder, Russell Cree, leads every engagement himself, from the first call to closing, with no hand-off to a separate deal team. Russell has founded and sold businesses of his own, so he knows what the process feels like from your side.

Based in Bend, Oregon, we spend our time off on singletrack, rivers and mountains, and we know a business is more than its EBITDA and balance sheet.

Russell is supported by a small core team and a trusted network of deal attorneys and advisors.

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