Schutt Sports, which recently emerged from a brief Chapter 11 bankruptcy, has acquired certain football helmet and faceguard assets from Adams USA. The deal will give Schutt a much larger presence in the youth market, while freeing Adams to pursue its other team sports businesses. Financial terms of the transaction were not disclosed.
“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.”
