In Part 2 of this deep dive, Kendall opens up about the real cost of private equity in the hunting industry—and what happens when outside investors reshape the direction of a founder-led business.

From the decision to take on investors to the internal pressure that followed, this episode unpacks the hard realities of private equity partnerships, leadership transitions, and the weight of stepping into the CEO role after a co-founder exit. Kendall shares the tension between what he believed the business needed versus what private equity demanded—and how that conflict began to take a personal toll.

This episode also explores the turning point that changed everything: a simple but powerful comment from his son that forced Kendall to reevaluate the balance between family, business, and personal fulfillment.

Along the way, we cover:

• The true cost of private equity in outdoor and hunting brands
• Navigating a CEO transition and founder identity shift
• What happens when a private equity firm installs an interim CEO
• Behind-the-scenes insights into partnerships with Kifaru
• Stories from a mountain goat hunt with Aron Snyder
• The process of hiring a long-term CEO to stabilize the business
• Lessons on entrepreneurship, burnout, and redefining success

If you're building a business, working with investors, or trying to balance ambition with real life, this episode is a raw look at what it actually takes—and what it can cost.

In this interview on First Generation Bowhunter, my good friend and mentor Kendall Card joins and talks about the journey of starting Camofire and BlackOvis, all the way up to closing their doors in October of 2025.

Kendall recounts the beginnings of Camofire, the early days starting from the basement of his co-founder until the time when 17 years later private equity would enter the picture.

He focuses on how the growth of Camofire led to the development of Core4Element, a clothing company they would ultimately sell in order to launch BlackOvis. Along the way Kendall identifies the foundations of the business, the heart and soul elements of his journey through building the company and his personal role in the formation of what would become Camofire & BlackOvis within the hunting industry. Kendall also reflects on the costs of growing a company and how the juggle of business, hunting passion, church, and family responsibilities stretched him, from which he harbors some regrets.

Additional topics covered is the introduction of Crispi, how Kendall and Mark worked together and juggled roles in building Camofire, BlackOvis and eventually Crispi. The rise of these websites with their associated loads, along with the sentiment in the business that ultimately the introduction of private equity to the equation. The details of the private equity deal led to Kendall staying with Camofire & BlackOvis in the role of CEO as Kendall’s co-founder left the business to run and operate Crispi.

In this episode, Adam Buchanan discusses the importance of finding personal validation in bow hunting rather than seeking approval from others, especially through social media. He emphasizes that the joy of hunting should come from the experience itself, not from the size of the game or the opinions of others. Adam encourages listeners to embrace their journey as first-generation bow hunters, to stop outsourcing their legitimacy, and to focus on their own growth and enjoyment in the sport.

Bow hunting should be fun; if it's not, something's wrong.

Don't let social media dictate your hunting success.

It's your tag; hunt for your own experience.

Outsourcing validation can lead to dissatisfaction.

You can't eat antlers; focus on the meat.

Personal validation is more important than likes.

The playbook for life is often unfinished.

Stop comparing your journey to others.

Hunting is about personal growth and experience.

Enjoy the process, not just the outcome.

"Just go shoot a deer."

"You can't eat antlers."

"This should be fun."

Chapters

00:00 The Essence of Bow Hunting

09:42 Outsourcing Validation in Hunting

16:54 The Journey of Self-Validation

24:47 Building Personal Legitimacy

bow hunting, validation, personal growth, social media, hunting success, self-acceptance, first generation bow hunter, outdoor sports, mental health, personal journey