The recreational products industry experienced robust M&A activity in 2013 with 47 deals reported for the year. This represented over 20% growth from 2012 and the industry posted its third consecutive year of increasing activity. The 2013 transactions included companies of all sizes and representing a wide variety of recreational activities. Both corporate and private equity buyers were active, as many employed a buy vs. build strategy in order to quickly gain access to growing niches or well-known brands. The M&A outlook for 2014 continues to be positive, supported by an improving economy, healthy business valuations, accessible debt and general industry and product expansion.