Big news in the lacrosse gear world as Maverik Lacrosse is acquired by the company that owns top hockey equipment manufacturer, Bauer.
From the Kohlberg & Company website:
Kohlberg & Company, L.L.C. is a leading U.S. private equity firm which acquires “middle market” companies (valued from $100 to $500 million). Since its inception in 1987, the firm has organized six private equity funds, through which it has raised $3.7 billion of committed capital. .. The firm has completed approximately 100 platform and add-on acquisitions with an aggregate value of more than $6 billion. Kohlberg & Company invests in companies where it can work in partnership with senior management to identify growth opportunities and implement fundamental operating and strategic changes, resulting in substantial increases in revenue and cash flow.
Kudos to Maverik for continuing to be an innovative presence in the lacrosse gear world. We know to expect big things out of Gagliardi and co.
KOHLBERG SPORTS GROUP ACQUIRES MAVERIK LACROSSE
Affiliate of Kohlberg & Company Will Oversee Lacrosse Manufacturer and Bauer Hockey
LONG ISLAND CITY, N.Y. – June 3, 2010 – Kohlberg Sports Group Inc. today announced it has acquired Maverik Lacrosse, a leading designer, developer, manufacturer and marketer of lacrosse equipment, apparel and accessories. Kohlberg Sports Group Inc., an affiliate of Kohlberg & Company, L.L.C., also owns Bauer Hockey, the world’s leading manufacturer of ice hockey equipment.
“Maverik Lacrosse has already become one of the top names in the sport and its products have become synonymous with quality and performance,” said Sam Frieder, co-Managing Partner, Kohlberg & Company. “We are excited to invest in Maverik Lacrosse and provide the necessary resources and support to make it the top brand in lacrosse – just as Bauer is the top brand in hockey. Kohlberg Sports Group will allow these two great companies to work together in a way that is beneficial to the growth of both brands.“
Founded in 2005 by professional lacrosse player and All-World Defenseman John Gagliardi, Maverik Lacrosse develops and manufactures a wide assortment of lacrosse products including a full line of heads, shafts, gloves and protective equipment. Highlighted by the elite-level Juice head, Wonderboy shaft and Maybach line of protective, Maverik has quickly become the brand of choice for some of the game’s top players including Paul Rabil, John Christmas and Dan Hardy.
“Our goal when we started Maverik Lacrosse was to utilize our character, drive and distinction as lacrosse players to develop the best products available in the market,” said Gagliardi, who will remain CEO of Maverik Lacrosse. “Our new ownership group has already demonstrated a commitment and desire to grow our company and brand, while allowing us to do what we do best and that’s developing products that are designed by lacrosse players for lacrosse players.”
Bauer Hockey, which was purchased by Kohlberg & Company and Canadian businessman W. Graeme Roustan in 2008, has experienced unprecedented growth and increased market share under the ownership group. In the past two years, Bauer Hockey has developed some of its most revolutionary products in its 83-year history, including the widely successful Bauer Vapor X:60 stick and the Bauer Supreme TotalONE skate.
Maverik Lacrosse and Bauer Hockey will continue to operate independently while sharing knowledge and expertise in key areas such as manufacturing, product development and distribution.
“Our ownership group has been fully committed to Bauer Hockey and has provided us with the resources we need to win,” said Kevin Davis, CEO and President, Bauer Hockey. “Kohlberg Sports Group strengthens that commitment by providing a unique opportunity for Bauer Hockey and Maverik Lacrosse to work together and share ideas to build both brands. We at Bauer Hockey look forward to doing what we can to assist John and the entire team at Maverik Lacrosse.”
Maverik Lacrosse headquarters will remain in Long Island City New York.
About Kohlberg Sports Group, Inc.
Kohlberg Sports Group, Inc. is an affiliate of Kohlberg & Company, a leading private equity firm headquartered in Mt. Kisco, New York. Kohlberg Sports Group currently oversees Bauer Hockey, the world’s largest manufacturer of ice hockey equipment and Maverik Lacrosse, a leading designer, developer, manufacturer and marketer of lacrosse equipment, apparel and accessories. Since its inception in 1987, Kohlberg & Company has completed more than 50 platform investments and more than 80 add-on acquisitions, with aggregate transaction value in excess of $8 billion. Kohlberg has invested over $2.6 billion across six private equity funds to date, including through its current $1.5 billion sixth fund, Kohlberg Investors VI.
About Maverik Lacrosse
Founded in 2005 by John Gagliardi, Team USA Player and All-World Defenseman and Jay Jalbert, All-World Midfielder, Maverik Lacrosse is a lacrosse equipment manufacturer whose products are designed and developed by the world’s top lacrosse players for lacrosse players. Team Maverik creates, tests, plays, develops and delivers innovative products that perform and exceed the professional demands of its founders. Maverik’s headquarters are based in Long Island City, NY.
About Bauer Hockey
Bauer Hockey is the world’s most recognized designer, marketer and manufacturer of hockey equipment. Founded in Kitchener, Ontario in 1927, Bauer developed the first skate with a blade attached to a boot, forever changing the game of hockey. Since then, Bauer has continued to develop the most sought after products in the industry, including the widely successful Supreme ® and Vapor ® lines of products.