Circle System Group announced it has been recapitalized by both its management and Gridiron Capital, LLC, of New Canaan, CT. This recapitalization provides Circle System with the capital to generate growth and also delivers the opportunity to balance Circle’s dealer reconditioning business with its school reconditioning business. Earlier this year, Gridiron Capital also recapitalized Schutt Sports, the leading manufacturer of football helmets and helmet faceguards.

“Our relationship with Gridiron Capital will accelerate our expansion, grow our services, and increase our opportunities”, said Alan Abeshaus, the chairman of Circle System, which has been in business since 1931. “This recapitalization is the result of a long search for the right partner. Gridiron will help us compete even more effectively from their platform of related businesses.”

Gridiron Capital’s managing partner, Tom Burger, confirms, “Circle System is the leader in sports equipment reconditioning and is well known for its high quality and responsive service. The company has carved out a strong industry niche and has a solid base for its continued growth. We are excited about the opportunities that both Circle System and Schutt Sports present. Gridiron will explore initiatives to capitalize on Circle’s customer base and Schutt’s dealer network. Our goal is to be the best team sports company in the world.”