PE-backed Varsity Brands taps Blumenfeld as CEO

Varsity Brands, portfolio company of Charlesbank Capital Partners and Partners Group, has named Adam Blumenfeld as CEO. The appointment became effective immediately. For the last decade, Blumenfeld has served as CEO of Varsity Brands’ BSN SPORTS division. Varsity Brands owns student sports brands.

PRESS RELEASE

DALLAS, April 10, 2017 /PRNewswire/ — Varsity Brands, the leading company that empowers young people through sport, spirit and achievement, today announced the appointment of Adam Blumenfeld as Chief Executive Officer, effective immediately. Mr. Blumenfeld, 46, had been serving as CEO of Varsity Brands’ BSN SPORTS division for the last ten years. Over that period, he led BSN SPORTS to its current position as the nation’s largest provider of team uniforms and sporting goods to schools, leagues and municipalities.

Terry Babilla, who has served with BSN SPORTS for more than 20 years – including the last 15 as President – will continue as President while succeeding Mr. Blumenfeld in the executive leadership role.

Varsity Brands’ Founder and Chairman, Jeff Webb, stated, “I have known and worked with Adam for many years. He is highly qualified to lead Varsity Brands as we continue our focus on growth and operational excellence. I am confident Adam will help Varsity Brands deliver on its mission of empowering the students we serve and building school spirit.”

Andrew Janower, Managing Director at Charlesbank Capital Partners, added, “Varsity Brands’ three great businesses – Varsity Spirit, Herff Jones and BSN SPORTS – are high-performing leaders in their respective markets, and Adam is the right leader at the right time to facilitate and nurture their distinct competitive strengths while championing Varsity Brands’ shared values and potential. We are delighted to welcome him as Varsity Brands’ CEO.”

Mr. Blumenfeld concluded, “This is an enviable time in Varsity Brands’ evolution, as our three operating businesses benefit from clear missions, excellent leadership and, increasingly, new avenues for growth and opportunity. The power of these businesses – combined with targeted investments that empower the Varsity Brands mission of improving the lives of young people – has never been stronger. I look forward to working with our three businesses to drive the company forward in a way that builds enduring value for employees, customers and all stakeholders.”

Varsity Brands is a portfolio company of Charlesbank Capital Partners and Partners Group.

About Varsity Brands
With a mission to inspire achievement and create memorable experiences for young people, Varsity Brands elevates the student experience, promotes participation and celebrates achievement through three unique but interrelated businesses: Herff Jones, A Varsity Achievement Brand; BSN SPORTS, a Varsity Sport Brand; and Varsity Spirit. Together, these assets promote personal, school and community pride through their customizable products and programs to elementary and middle schools, high schools, and colleges and universities, as well as church organizations, professional and collegiate sports teams and corporations. Through its 8,600 dedicated employees and independent representatives, Varsity Brands reaches its individual and institutional customers each year via catalog, telesales, e-commerce sites and direct sales channels.

About Charlesbank Capital Partners
Based in Boston and New York, Charlesbank Capital Partners is a middle-market private equity investment firm managing more than $3.4 billion of capital. Charlesbank focuses on management-led buyouts and growth capital financings, generally investing in companies with enterprise values of $150 million to $1.5 billion, and also engages in opportunistic credit investments. The firm seeks to partner with strong management teams to build companies with sustainable competitive advantage and excellent prospects for growth. For more information, please visit www.charlesbank.com.

About Partners Group
Partners Group (SIX: PGHN) is a global private markets investment management firm with over $50 billion in investment programs under management in private equity, private real estate, private infrastructure and private debt. The firm is headquartered in Zug, Switzerland, and has over 800 professionals across 18 offices around the globe. For more information, visit www.partnersgroup.com.