Longstreth Sporting Goods, specializing in field hockey, was acquired by Roebling Capital Partners, a private equity firm based in Cincinnati, OH. Terms were not disclosed.
John Schaefer and David Dahle, co-owners of Longstreth, founded by Barbara Longstreth in 1977, operate one store, Longstreth Sporting Goods, in Spring City, PA, and the website, longstreth.com, focused on field hockey equipment, footwear and apparel. Longstreth claims to be the leading supplier of field hockey products in the U.S.
Wes Goebel, partner and managing director at Roebling Capital Partners, said, “We were incredibly impressed with the brand recognition that the Longstreth name holds in the field hockey market. John and David have done an exceptional job capitalizing on the legacy brand and propelling it to new heights since they acquired it. They are one of the most experienced management teams we’ve run across, and we’re extremely excited to get to work catalyzing long-term growth for Longstreth and the team.”
Greenwich Capital Group (GCG) served as financial advisor to Longstreth.
Andrew Dickow, managing director of GCG, said, “From the moment we began this journey, our mission was crystal clear: to honor and elevate the foundation laid out by Barbara Longrstreth and continued by John and Dave. We needed a partner attuned to the aspirations of the shareholders and employees that aligned with Longstreth’s ethos. With Roebling Capital Partners, we found more than just a partner. We found a shared vision, a dedication to the mission, and a commitment to advancing the legacy of Longstreth with care and precision.”
The sale comes after BSN Sports, in February 2020, acquired Longstreth’s lacrosse and softball team sports businesses and the exclusive rights to supply uniform or team apparel and footwear to Longstreth’s field hockey team customers. Longstreth retained its field hockey equipment business, focused on selling its full line of equipment to field hockey teams/clubs, dealers, universities, high schools, and other institutions. It also continued the operations of the store.
In February 2021, Longstreth acquired Wilmington, MA-based CranBarry Inc., the second largest domestic supplier of field hockey equipment and a wholesale distributor to retailers from big chains, including Dick’s Sporting Goods, to independent specialty retailers.
Photo courtesy Longstreth Sporting Goods
