CODI-backed Marucci acquires Lizard Skin

Marucci Sports LLC, which is backed by Compass Diversified, has acquired Lizard Skins, a provider of branded grip products, protective equipment, bags and apparel for use in baseball, cycling, hockey, esports and lacrosse.

Marucci Sports LLC, which is backed by Compass Diversified, has acquired Lizard Skins, a provider of branded grip products, protective equipment, bags and apparel for use in baseball, cycling, hockey, esports and lacrosse. No financial terms were disclosed.

PRESS RELEASE

BATON ROUGE, La., Oct. 25, 2021 (GLOBE NEWSWIRE) — Marucci Sports, LLC (“Marucci”), a subsidiary of Compass Diversified (NYSE: CODI) and a leading designer and manufacturer of baseball and softball equipment and apparel, today announced it has acquired Lizard Skins LLC (“Lizard Skins”), a designer and seller of branded grip products, protective equipment, bags and apparel for use in baseball, cycling, hockey, Esports and lacrosse. Terms of the transaction were not disclosed.

With the acquisition of Lizard Skins, Marucci is positioned to build on its leading position in diamond sports while simultaneously developing the company’s presence in new sports markets such as hockey and cycling. Founded in 1993 with a focus on designing products to protect bicycles and riders, Lizard Skins has since expanded to a range of sports and has leveraged its leading technology to become the official bat grip of Major League Baseball, the grip of choice for various pro cycling teams, and its DSP hockey grip tape is a licensed product of the National Hockey League. Lizard Skins’ leadership team, including its founder Brian Fruit, are expected to continue leading the brand as part of Marucci.

“Adding Lizard Skins’ outstanding products to the Marucci family is a terrific opportunity to enhance our offerings,” said Kurt Ainsworth, CEO of Marucci. “With its exciting brand, innovative designs, and leading technology, Lizard Skins has earned the trust of top athletes, and its strong presence both inside and outside the diamond sports market makes this an exciting partnership. We look forward to welcoming Brian and his team aboard.”

“We are thrilled to take this step forward in our growth as a company and become part of the incredible Marucci team,” said Brian Fruit, President and CEO of Lizard Skins. “Our success is a product of our unwavering focus on the demands of elite athletes, and Marucci shares our total commitment to meeting the needs of those customers. I am confident that with support of CODI and Marucci’s resources, we will better be able to provide our athletes the top-of-the-line equipment they need to succeed against all competition. I am excited to continue the Lizard Skins mission to develop, expand and improve equipment for our customers.”

Elias Sabo, CEO of CODI, added: “Our team at CODI prides itself on being business builders, having completed nearly 30 add-on transactions for our subsidiaries since our inception. We are excited to add to our long history of investing in our subsidiaries and bring these two leading companies together. As proven brands that have established themselves as equipment providers of choice for top-performing athletes, Marucci and Lizard Skins are ideally situated to join forces and deliver a broader, more diverse range of products. We are proud that our permanent capital advantage has once again enabled us to invest in the future of our subsidiary, and we are confident that Marucci is well-positioned to generate long-term value for all its stakeholders, including its athletes and our shareholders.”

About Marucci
Founded in 2009, Marucci Sports is a leading manufacturer and distributor of baseball and softball equipment under the Marucci and Victus brands, headquartered in Baton Rouge, Louisiana. Marucci’s product portfolio includes wood and metal bats, apparel and accessories, batting and fielding gloves, and bags and protective gear. Today, Marucci and Victus are the top two most-used bats among Big League players.

About Lizard Skins
Lizard Skins is an industry leading provider of sporting goods accessories that revolve around the hand-to-grip interface. Its products are used at the highest levels of competition by athletes in the Tour de France, Major League Baseball, National Hockey League, National Lacrosse League and even gaming. Lizard Skins is headquartered in American Fork, Utah.