GREENWICH, Conn., June 14, 2012 /PRNewswire/ -- North Castle
Partners, a leading investor in small-cap consumer companies
focused on health, wellness and active living, has reached a
definitive agreement to sell Cascade Helmets Holdings, Inc.
("Cascade"), a leading manufacturer and distributor of men's and
youth lacrosse helmets in North
America, to Bauer Performance Sports Ltd. (TSX: BAU)
("BAUER") (the "Acquisition") for a purchase price of US$64 million, payable in cash and subject to
adjustment. The Acquisition is expected to close on or about
June 29, 2012, subject to
satisfaction of customary closing conditions.
Cascade is the leading designer, developer, manufacturer and
marketer of lacrosse helmets and eyewear in North America, and is a leading and
well-recognized brand in the broader lacrosse equipment industry.
In addition to Cascade's lacrosse business, the acquisition also
includes Cascade's recently-established hockey helmet business,
which has experienced success in the industry with its M11 helmet,
which was co-developed with hockey icon Mark Messier. Cascade designs and manufactures
all of its products at its operations in Liverpool, NY, which allows it to provide
48-hour turnaround time for custom helmet orders and over 750,000
different color combinations.
"The sale of Cascade continues to validate our strategy to
partner with entrepreneurial management teams to build high growth
brands for sale to strategic buyers," said North Castle Managing
Director Alison Minter. "North
Castle, leveraging its deep experience in sports, fitness and
recreation in partnership with Cascade's exceptional leadership
team, accelerated new product innovation, doubled sales and built a
new line of hockey helmets with hockey legend Mark Messier."
"We are proud of our role in the Cascade transaction, which is
representative of the broader value creation that we are driving
across our entire portfolio," remarked North Castle's Managing
Partner Chip Baird. "We continue to look for opportunities
across the health, wellness and active living markets to leverage
our knowledge, network and experience in building market leaders
like Cascade."
ABOUT NORTH CASTLE PARTNERS
North Castle Partners is a leading small-cap consumer
private equity investor with a focus on the health, wellness and
active living markets. North Castle's mission is to partner with
entrepreneurial management teams to build great companies both
through tangible value creation initiatives that leverage its deep
experience, knowledge base and network, and by pursuing a
values-based approach that promotes stronger partnerships. North
Castle's current portfolio includes such well-known brands as
Flatout Flatbreads, Ibex Outdoor Clothing, glominerals, Mineral
Fusion, Red Door Spas, Performance Bicycle, World Health Club,
Cascade Helmets, Octane Fitness and Palladio Beauty Group. Prior
portfolio company holdings include Naked Juice Company, Enzymatic
Therapy, Equinox Fitness, EAS, CRC Health Group, Doctor's
Dermatologic Formula, and Avalon Natural Products. North Castle is
headquartered in Greenwich, CT.
For more information, visit www.northcastlepartners.com.
ABOUT BAUER PERFORMANCE SPORTS LTD.
Bauer Performance Sports Ltd. (TSX: BAU) is a
leading developer and manufacturer of ice hockey, roller hockey,
and lacrosse equipment as well as related apparel. The company has
the most recognized and strongest brand in the ice hockey equipment
industry, and holds the top market share position in both ice and
roller hockey. Its products are marketed under the Bauer Hockey,
Mission Roller Hockey and Maverik Lacrosse brand names and are
distributed by sales representatives and independent distributors
throughout the world. Bauer Performance Sports is focused on
building its leadership position and growing market share in all
product categories through continued innovation at every level. For
more information, visit
www.bauerperformancesports.com.
ABOUT CASCADE HELMETS HOLDINGS, INC.
Cascade is the leading helmet brand in lacrosse. Cascade
was founded in 1986 with a niche focus on designing and
manufacturing innovative lacrosse headgear and has expanded into
adjacent market segments including women's lacrosse and field
hockey eyewear, and whitewater and rescue helmets. In 2009, Cascade
partnered with former NHL player Mark
Messier to introduce a new branded line of hockey helmets
which shared much of the product technology utilized in Cascade's
lacrosse helmets.
Contact:
Alison Minter
North
Castle Partners
203-862-3261
SOURCE North Castle Partners