GREENWICH, Conn., June 29, 2012 /PRNewswire/ -- North Castle
Partners, a leading private equity firm focused on investments in
consumer product and service businesses that promote Health,
Wellness, and Active Living, announced today that it has completed
the sale of Cascade Helmets Holdings, Inc. ("Cascade"), the leading
manufacturer and distributor of lacrosse helmets and eyewear, to
Bauer Performance Sports Ltd. (TSX: BAU) for a purchase price of
US$64 million.
Cascade is the leading designer, developer, manufacturer and
marketer of lacrosse helmets and eyewear in North America, and is one of the most
well-recognized brands in the broader lacrosse equipment industry.
Leveraging its deep experience in sports, fitness and recreation,
North Castle 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.
"The growth of Cascade and its sale to Bauer is another example
of North Castle's strategy to partner with entrepreneurial
management teams to build high-growth brands that are of
significant value to strategic buyers," said North Castle Managing
Director Alison Minter. "We
believe North Castle's experience in sports, fitness and recreation
in partnership with Cascade's exceptional leadership team has
created a company that is well positioned to capitalize on the wide
range of opportunities the company will have as part of Bauer
Performance Sports."
"We believe the growth of Cascade illustrates the benefits our
focused approach provides to management teams as we partner to
build great companies. We are proud to have played an integral role
in the development of Cascade, which is representative of the
broader value creation that we are driving across our entire
portfolio," said 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 private equity firm focused
on investments in consumer product and service businesses that
promote Health, Wellness, and Active Living. North Castle is
a hands-on, value-added investor in high-growth, middle market
companies in the (i) beauty & personal care, (ii) consumer
health, (iii) fitness, recreation & sports, (iv) home &
leisure and (v) nutrition sectors, among others. North
Castle's current portfolio includes such well-known brands as
glominerals, Mineral Fusion, Red Door Spas, Performance Bicycles,
Palladio Beauty Group, World Health Clubs, Octane Fitness, Ibex
Outdoor Clothing, and Flatout Flatbreads. Prior portfolio
company holdings include Atkins Nutritionals, Bora-Bora Organic
Foods, Equinox Fitness, EAS, Enzymatic Therapy, CRC Health Group,
Doctor's Dermatologic Formula, Naked Juice Company, and Avalon
Organics / Alba Botanicals. North Castle and its operating
executives and advisors partner with management to bring a wide
range of strategic and operational capabilities, as well as an
extensive knowledge base and network to build world-class
companies. 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