Further validating what has been a taxing year for team sports vendors and retailers alike, the hockey industry saw continued consolidation last week as Sher-Wood Hockey reported it is now in the process of finalizing its acquisition of TPS Hockey out of bankruptcy court.
The Sher-Wood/TPS deal follows closely on the heels of the recently acquired Bauer Hockey acquiring Mission/ITECH and Sher-Wood itself acquiring novelties and pucks manufacturer Inglasco.
Ralph Trott, president and CEO of Sher-Wood Hockey, told SEW he expects the transaction to be completed in the coming weeks. “(TPS Hockey) is an extraordinarily strong (global) brand,” Trott said. “It adds a significant brand to our stable and, with our financial strength and marketing capability, this should help create some significant value (for us).”
Trott added that while the TPS brand exhibited strength, the company wasnt “financially structured” to effectively manage its supply chain or to fully meet customer expectations. “I think we bring financial strength and marketing discipline,” he said, “and we can drive forward by restoring vendor and customer relationships that may have deteriorated during this stressful period.” Trott added that the TPS brand name will be retained, and both TPS and Sher-Wood brands would maintain their “rightful places” in the market. Trott said Sher-Wood has yet to decide whether TPS manufacturing facilities will be relocated assuming the acquisition is completed.
Representatives from Hillerich & Bradsby, parent company of TPS Hockey, remained tight-lipped on the subject for the most part, but told SEW that the impending acquisition would have no effect on Louisville Sluggers TPX baseball or TPS softball brands.
Steve Sachs, owner/manager of Hat Trick Hockey in Anoka, MN, thinks the acquisition will augment the TPS name, but questioned the impact the acquisition will have on the quality of the companies product. He added that it will be “interesting” to see what Sher-Woods new product would be.
