For generations of fly anglers, the name R.L. Winston has meant something more than just fly rods. It has represented craftsmanship, restraint, and a distinctly American approach to fly fishing rooted in tradition rather than trend. That is why the recent sale of the iconic Twin Bridges, Montana company has captured so much attention across the fly fishing world.
Earlier this month, longtime Winston owner David Ondaatje announced the sale of R.L. Winston Rod Company to Montana businessman and fly angler Lance Robertson. Robertson, an engineer and longtime Winston supporter who lives near the company’s home base in Twin Bridges, has stated that preserving Winston’s heritage and independent spirit will remain a top priority.
One of the more interesting aspects of the sale is the background of the man acquiring one of fly fishing’s most respected names. Robertson is not a traditional fly fishing industry executive. He comes from the energy sector, where he built a long career as an engineer and business leader before stepping into ownership of one of the sport’s most iconic brands.
Before acquiring Winston, Robertson spent more than two decades in the oil and gas business, primarily in Texas. Most notably, he served as President and CEO of Endeavor Energy Resources, one of the largest privately held oil companies in the United States. Endeavor, founded by legendary oilman Autry Stephens, became one of the dominant players in the Permian Basin, a region central to American energy production.
Robertson’s engineering background appears to have played a major role in his rise through the industry. Colleagues in the energy world often described him as analytical, operationally focused, and deeply involved in technical decision-making rather than functioning solely as a finance-oriented executive. That distinction matters when looking at a company like Winston, whose reputation has always centered on craftsmanship, materials engineering, and nuanced rod design rather than mass-market scale.
In 2024, Robertson oversaw one of the largest energy transactions in recent years when Endeavor merged with Diamondback Energy in a deal valued at roughly $26 billion. Following the merger, Robertson joined Diamondback’s Board of Directors, further cementing his reputation as a major figure in the energy business.
What makes the Winston acquisition particularly intriguing is the contrast between Robertson’s corporate background and Winston’s deeply traditional identity. On paper, an oil executive buying a heritage fly rod company could easily raise concerns among longtime anglers. Yet the messaging surrounding the acquisition has emphasized stewardship rather than expansion or disruption.
Robertson has repeatedly framed the purchase in terms of preserving Winston’s culture, maintaining its Montana manufacturing base, and keeping the existing team intact. He specifically stated that Winston’s current staff and leadership would remain in place, including Andy Wunsch continuing as President and General Manager.
For many anglers, that continuity matters. Winston occupies a unique place in fly fishing because it has resisted many of the pressures that have transformed other legacy tackle brands. Founded in 1929, the company built its reputation on bamboo rods before becoming one of the most respected names in graphite and boron technology. Yet even as materials evolved, Winston maintained a signature character: smooth-loading actions, refined aesthetics, and rods designed for anglers who value presentation and connection over pure casting distance.
In many ways, Robertson’s background may actually align more naturally with Winston than some anglers initially assume. Engineers tend to appreciate precision, process, and long-term refinement, all qualities deeply embedded in Winston’s identity. And unlike private equity acquisitions that often prioritize rapid growth or operational consolidation, this sale appears structured around long-term ownership by someone who is both financially capable and personally invested in the culture of fly fishing.
There is also a broader pattern emerging in premium outdoor brands where successful entrepreneurs from outside the industry are increasingly becoming custodians of heritage companies they personally admire. In Winston’s case, Robertson seems to fit that mold: an accomplished executive with the resources to sustain the company, but also someone who genuinely values what Winston represents.
The sale also comes at an interesting moment for the fly fishing industry. Consumers continue to gravitate toward brands with authenticity and heritage, especially in a market increasingly crowded with fast-moving product cycles and aggressive marketing. Winston’s ability to maintain its identity through this ownership transition could ultimately strengthen its position among anglers looking for equipment built with permanence in mind.
For now, most of the fly fishing world appears cautiously optimistic. The early indications suggest this was less a corporate acquisition and more a passing of the torch between two owners who understood that Winston’s greatest asset is not simply its products, but the trust and reverence attached to its name.
For many anglers, the hope is simple: that Winston remains Winston. And from everything shared so far, that appears to be exactly the plan.
Comments
Love Winston rods – superior workmanship and service. Purchased and fished ONLY Winston rods for over the past 40 years. Blessed to have the Winston Twin Bridges facility refinish my 2 piece 9’ 4wt pre-IM6 rod and plan to wet a line with it tomorrow on the Housatonic River here in CT. Wish the new ownership team the best of success.
Dan Kenny
To those who are skeptical about this… Give the guy a chance. it’s clear this is not about the $ for the buyer. I’d like to think he has passion for the sport and the place RL holds in the history and evolution of fly rods – classic cane and otherwise (I have 6 of them including a 4’ #4 cane that is simply a treasure). As a small business owner who is in the process of finding the right buyer I can say with confidence there comes a time when new ‘energy’ is needed. This may be the right time for a change at Winston.
Thanks for the article. When I first heard Winston was sold, my heart sank fearing another PE firm bastardizing another once great brand’s products and service. Glad to see it’s not and will support them over those that have. Plus, you know, superb rods. Best of luck to Mr. Robinson. Don’t go changin’!
Luv my Pure 4wt & not a Private equity move “bodes well” I think
Am I mistaken, but weren’t Winston Rods and Bauer Reels purchased by a Hollywood executive several years ago?
As a Winston rod owner since 1986 I wish the new owner well.
I like that new owner is a fly fishermen. Hopefully, he will walk into storage and say lets resurrect some older tapers or even some older style fiberglass. That would be absolutely spectacular!
I have owned R.L Winston rods since 1999 and they still are the prized rods in my collection. Most of my fishing experience in the Marco Island, 10,000 Islands and the Everglades environments were enjoyed with the Winston’s. I hope the new owner maintains and enhances the aura of a Winston rod.
Hoping for the best, Winston has always made a very beautiful fishing rod, both in bamboo and now in graphite. I’ve own both of them. I guess I’m a born skeptic, but in Montana with Lower, yearly snow packs, higher temperatures, and even more uncontrollable fires, trout fishing will suffer. Basically anytime that oil and gas interest, mining, interest, and monetizing, corporate profits exist, environmental concerns become secondary. Hopefully the new owner does not meet my corporate stereotype.
Hopefully he’s just flush with cash from the Diamondback merger and was looking for a cool place to park it. But looking back at what happened to Filson and Simms it makes you wonder and a bit scared. Yes those companies were bought by PE firms, not private individuals. But what if he flips it to PE. No serious fly fisherman takes this news comfortably.
I happen to join the crowd of skeptics. Ask yourself Why? In time, The 5 why’s will yield the answer.
In the interim, I suspect an easy money grab, tax shelter or both.
If he’s listening, perhaps he’s willing to follow in the footsteps of Patagonia and Yvon Chouinard?
I have a LT 5 piece 5 weight Winston. It’s great rod. I fished it more than any of the other rods I own.l The tuned purpose built action of a Winston rod is truly a pleasure fish. There have been several transitions with Winston, as long as they remain faithful to what has made the brand great they will be fine.
One man at the top who is the owner with an engineering foundation and a commitment to tradition, combined with the financial bandwidth to carry the. Rand forward. That’s a pretty good recipe for success as far as I’m concerned, and one i intend to continue supporting.
I own several high-end fly rods. My Winston 5 wt is still my favorite dry fly rod . Hopefully, Winston will continue its tradition of building the finest rods in the industry.
I am in the steel industry and sell products into the oil and gas industry. Without both of these products there would be no need for a Winston company. These “anti-climate” products help create the standard of living that we all enjoy. Without them we would not have the ability to take that fly fishing vacation or travel weekly to our favorite river. The USA is in the top of the list of world countries that protect the environment. People like Lance who work in industries like his understand the beauty of a fly fishing experience and what it takes to maintain that environment. Best of luck. I will continue to support the great Winston products.
More than a little ironic that a man who built his fortune in an industry that is warming our planet and the waters we fish, admires and bought a fly fishing company. Maybe he will change his tune and add his voice to the industries like Patagonia and Orvis fighting for the preservation of the lands and sport we love.
Curious who wrote this piece. First impression is a deep pocketed owner seeking a hobby. Guys at that level typically slash costs, quality checks and staffing to improve profitability. Does he fish? Does this smell like Simms? Perception is a completely over qualified player without any practical rod knowledge. Sale timing also interesting – gotta be a rough road for Winston as their rod prices are off the charts and general economic indicators are not trending well now on many fronts across this country. How many entry level anglers can afford any Winston rod? Ridiculous. Best of luck to Winston folks.
I own (& have owned) a fairly significant stable of quality rods from a few of the industry leaders. Of them all, Winstons are indeed special. Surely we all hope the company remains healthy, stable and true to its heritage. We care.
Best of luck Lance!
David Loy, Seattle
I am with the “Time will tell…” bunch. I go way back to my first visit in the San Francisco shop with Doug Merrick and Gary Howells was in back. I think the character of the company changed (for me) when Brackett and the Boo Boys departed.
Thank you Feathercraft for the article and best wishes to Winston future, appreciate the help and service in the past.
I will be at the Shop in Twin Bridges in Late June. I own a LOT of fly rods from Bamboo, to recent built. I own a Winston Air 9 ft. 4 weight. I own Lake Country Tree Farm in Rainbow and I worked for years as a Fishery Scientist and Engineering Specialist. Our family has been invested in the Restaurant and filming, and video business for years. We own Coral Isle in USVI, Breakfast Club Too in Key West, etc.. I am hoping I can go thru the factory on June 24th.
Eventually.. .he’ll “drill baby drill”….I hope I’m proven wrong.
Time will tell….
Eventually.. .he’ll “drill baby drill”….I hope I’m proven wrong.
Thank God it isn’t Pure Fishing or some other mega corp who reduces quality and counts success by $$$ only. Best to the new owner during the transition and beyond.