G.I. Sportz Inc. announced the completion of a restructuring process that has culminated in its sale to Kore Outdoor Inc. Kore is a newly established entity owned by existing G.I. Sportz majority shareholder Fulcrum Capital Partners, and shareholders include members of the management team and Richmond Italia.
The restructuring under the Kore name is designed to strengthen the company and ensure uninterrupted service to its customers worldwide. Kore will continue to operate a portfolio of brands which includes G.I. Sportz, Empire, Tippman, Spyder, JT, and VForce.
“We are very excited to complete this important process and turn our full attention to meeting the needs of the paintball community,” said Billy Ceranski, CEO of Kore. “We take our leadership position seriously and look forward to continuing to serve our customers with innovative and reliable products.”
“The establishment of Kore Outdoor sets the stage for long-term success as the world’s premier manufacturer and supplier of paintball products,” said Greg Collings, chairman of Kore and a partner of Fulcrum. “We have helped optimize the operations and ensured that the team has the resources necessary to compete successfully and grow the business.”
Kore will continue to be run by the existing management team. In conjunction with the sale, G.I. Sportz President Billy Ceranski has been appointed CEO of Kore, G.I. Sportz CFO Paul Antoniadis has been appointed senior vice president and CFO of Kore, and Dave Thomas will continue to serve as COO.
