Gridiron Capital, LLC is making moves to expand its footprint in the team sports market. The sporting goods industry has watched with great interest as Collegiate Pacific acts as a serial consolidator on the team dealer side, while K2 Inc. and Russell Corp. gobbled up key team sports brands, but Gridiron now looks to be putting its own model in place on the vendor side.

The New Canaan, Conn. based private equity run by former Duke football player Tom Burger that took a majority stake in Schutt Sports this past April has now taken part in a recapitalization at Circle System Group, an independent team sports equipment reconditioning company based in Easton, Penn. CSG management was also part of the deal.
In a release issued Friday, CSG said the financing provides the company with the capital to generate growth and creates the opportunity to balance Circle’s dealer reconditioning business with its school reconditioning business.

“Our relationship with Gridiron Capital will accelerate our expansion, grow our services, and increase our opportunities”, said Alan Abeshaus, 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 will explore initiatives to capitalize on Circle’s customer base and Schutt’s dealer network,” said Burger, Gridrion’s managing partner. “Our goal is to be the best team sports company in the world.”