Fenway Partners, Inc., a private equity firm that invests in and builds branded goods companies, announced Monday that it has acquired controlling interest in Riddell Sports Group, Inc. A fund managed by Fenway purchased the business from Lincolnshire Management Inc. The transaction is valued at more than $100 million.
“Riddell is a company with multiple strengths, including brand recognition, market leadership, a direct sales force with longstanding institutional relationships, product innovation, and earnings stability which provide an outstanding foundation to grow the business,” said Peter Lamm, Chairman and Chief Executive of Fenway Partners. “The management team, led by Bill Sherman, has been instrumental in guiding Riddell’s success and we look forward to supporting their ongoing efforts to broaden the company’s markets, expand to new sports categories, and pursue selective acquisitions.”
Bill Sherman, President and Chief Executive Officer of Riddell, said, “We see so much untapped potential for our brands and are pleased that Fenway shares our growth vision. The cornerstone of our business model has been the strong relationships that our sales force has forged with coaches and equipment managers over many years. We plan to further enhance our product breadth, technology skills and valued customer relationships as we drive the business forward.”
