Stout has advised Mathews on the establishment of an employee stock ownership plan (ESOP). Stout served as the exclusive financial advisor to Mathews and led the ESOP structuring, financing process, and execution on behalf of the company. Stout’s Capital Markets team arranged a new senior credit facility led by Associated Bank and First Financial Bank to support the transaction. The transaction closed in August 2026.

Mathews is an exclusive U.S. based manufacturer of high-precision compound bows, recognized for its premium brand, engineering excellence, and loyal customer base. Headquartered in Sparta, Wisconsin, and founded in 1992, Mathews has produced more than 2 million bows through its 200,000+ square foot manufacturing facility. Mathews’ key differentiator within the bow manufacturing industry is its longstanding track record of innovation and product development focused on advancing bow performance.

Through the transaction, the ESOP acquired 100% of Mathews’ common stock, giving employees an ownership stake while supporting the company’s continued growth and preserving its legacy.