ShockDoctor buys McDavid

ShockDoctor, a portfolio company of Bregal Partners, has closed its merge with McDavid. Financial terms weren’t announced. Chicago-based McDavid makes, designs and markets sports medicine, sports protection and performance apparel for active people and athletes. William Blair & Co. advised ShockDoctor while Imperial Capital advised McDavid.

PRESS RELEASE

NEW YORK–(BUSINESS WIRE)–Shock Doctor, a leading provider of athletic performance and protective equipment and a portfolio company of Bregal Partners, a middle market private equity firm, today announced that it completed its merger with McDavid, a leader in sports medicine, protection and performance apparel, to form the world’s premier sports equipment company dedicated to the protection of athletes.

McDavid manufactures, designs and markets sports medicine, sports protection and performance apparel for active people and athletes. Since its founding in 1980, McDavid’s products have remained at the top of the recommended lists of pro athletes, sports medicine professionals and athletic trainers. From research-backed ankle braces to protective apparel with HEX™ technology, McDavid products address the broad range and the specific needs of professional, collegiate and all athletes across a variety of sports. Shock Doctor is a global leader in mouthguards, core protective equipment and apparel, and performance sports therapy products designed to protect and enhance the performance of athletes across a wide range of sports including football, basketball, hockey, baseball, lacrosse, MMA, fitness and more.
Bregal Partners’ co-founder and Managing Partner Robert Bergmann noted that the combination with McDavid represents successful execution of the strategy the private equity firm planned when it acquired Shock Doctor – namely, to consolidate the sports medicine protective market, a sector Bregal has long targeted given its focus on the consumerization of healthcare. “We think the double digit growth trends in the $7B+ global market for sports medicine are only going to accelerate given the focus on safety in youth sports and the increasing physical activity of older adults driven by the desire to stay healthy,” explained Bergmann. “McDavid and Shock Doctor are a perfect fit given their shared reputation for innovation and the well-earned confidence that consumers have in both brands.”
“Our mission is to be the number one choice for athletes around the world who demand performance and protection,” said Tony Armand, President and CEO of Shock Doctor. “This merger strengthens both companies as we will be able to collectively leverage intellectual property, R&D departments and distribution channels to ensure athletes around the world are protected and benefiting from our performance products.” Mr. Armand will be the CEO of the combined business and Dr. Robert McDavid will be Chairman of the Board.
Mr. Bergmann added that the transaction gives Bregal Partners a chance to continue to invest behind a management team with whom the private equity firm has a long and successful track record. “We have tremendous confidence in Tony and his team, with whom we have a 15-year relationship, and are very pleased to have the opportunity to continue to invest behind them as they grow the combined business.”
Shock Doctor was advised by William Blair & Co. and Dechert LLP. McDavid was advised by Imperial Capital, LLC and Skadden, Arps, Slate, Meagher & Flom LLP.
About Bregal Partners
Bregal Partners is a private investment firm that invests alongside management teams to build industry leading companies in the middle market. Areas of focus include energy services, consumer, food and retail, and healthcare. With $500 million of committed capital funded by a sixth-generation family foundation with roots back to 1841, Bregal Partners brings experience, stability, and a long-term outlook to all of its investment activities. Bregal Partners is part of Bregal Investments, a global family of private equity and fund investment vehicles that has invested more than $9 billion since 2002. For more information on Bregal Partners, please visit www.bregalpartners.com.
About Shock Doctor
Shock Doctor is a global leader in mouthguards, along with core protective equipment and apparel, performance sports therapy, sports insoles and performance compression and recovery — designed to protect and enhance the performance of athletes across a wide range of sports including football, basketball, hockey, baseball, lacrosse, MMA, fitness and more. Shock Doctor is a portfolio company of Bregal Partners, a private equity investment firm. Additional information about Shock Doctor is available at www.shockdoctor.com.
About McDavid
McDavid manufactures, designs and markets sports medicine, sports protection and performance apparel for active people and athletes. Since its founding in 1980, McDavid’s products have remained at the top of the recommended lists of pro athletes, sports medicine professionals and athletic trainers. From research-backed ankle braces to protective apparel with HEX™ technology, McDavid products address the broad range and the specific needs of professional, collegiate and all athletes across a variety of sports. The Company is headquartered in Chicago with subsidiaries in Japan and Europe. Additional information about McDavid is available at www.mcdavidusa.com.