Schutt Sports, the portfolio company of Platinum Equity (the Tom Gores firm that just landed the Detroit Pistons), will buy certain football helmet and faceguard assets that belonged to Adams USA. Schutt will continue to develop the brand under the Adams name. Terms of the deal were not publicized.
LITCHFIELD, Ill., June 16, 2011/ — Schutt Sports, a leading domestic manufacturer of protective sports equipment and aftermarket reconditioning services, announced today that it acquired certain football helmet and faceguard assets from Adams USA. Financial terms of the transaction were not disclosed.
Schutt Sports will assume responsibility for manufacturing the acquired product lines and will continue marketing helmets and faceguards under the Adams brand name.
“Adams is a respected, traditional football brand that has served its customers very well over the years,” said Robert Erb, Schutt Sports CEO. “We are excited because this acquisition will expand our relationship with the team dealer market and will enhance our lineup, allowing us to offer quality football products to a wider variety of customers.”
Adams has been manufacturing and marketing sporting goods for more than 50 years. Its football helmets and faceguards are popular in the youth football market where Adams’ reputation for quality combines with a strong value proposition.
Adams also manufactures other sports-related equipment, and the company will continue to market those products independently.
“We sold our football headgear product lines in order to focus on improving and expanding our offerings in other areas of the sporting goods market,” said Adams USA CEO David Wright. “Adams has a proud football heritage and we have great confidence in Schutt Sports’ ability to build on that tradition and move forward with these products.”
Platinum Equity acquired Schutt Sports in December 2010. Jacob Kotzubei, the partner at Platinum whose team led the acquisition of Schutt Sports, said the Adams add-on investment is a strong complementary fit.
“This is a strategic acquisition that will expand the Schutt Sports’ product line and take advantage of the company’s world class manufacturing and marketing capabilities,” said Mr. Kotzubei. “We view Schutt Sports as a compelling growth platform and we will continue looking for opportunities to expand the business organically and through additional investments.”
About Schutt Sports
Schutt Sports is a domestic manufacturer and the world’s leading maker of football helmets and faceguards. Three out of four professional football players take the field wearing Schutt® gear. The ION 4D, AiR XP, and DNA line of helmets are the world’s only football helmets to feature TPU Cushioning – the same material used by the US military for helmets for fighter pilots and paratroopers. Schutt faceguards are the best in the world, both in form and in function. Schutt is also the manufacturer and supplier of bases to Major League Baseball and Minor League Baseball, as well as the official batter’s helmet supplier to the Team USA National Softball Team. Schutt gear is designed for maximum performance based on standards dictated by the most important person in our world – the player.
About Platinum Equity
Platinum Equity (www.platinumequity.com) is a global M&A&O® firm specializing in the merger, acquisition and operation of companies that provide services and solutions to customers in a broad range of business markets, including information technology, telecommunications, logistics, metals services, manufacturing and distribution. Since its founding in 1995 by Tom Gores, Platinum Equity has completed more 120 acquisitions.