Kevin Davis was appointed president and CEO of Bauer Hockey following the completion of Nike's sale of Bauer. Davis most recently served as Nike Bauer Hockey's CFO and COO. Bauer CEO Mark Duggan, a long-time Nike executive, remains with Nike following the sale.


On Thursday, Nike announced that it completed its previously disclosed sale of Bauer Hockey to an investor group led by Kohlberg & Company and Canadian businessman W. Graeme Roustan for $200 million in cash.

 


A 15-year veteran of the sporting goods, consumer products, and medical device industries, Davis has been with Nike Bauer for the past six years. During that time, he helped guide the company to its most successful financial position in its history, including record financial results for the past two years. He also worked for Gillette and Braun in the past.

“Today marks a momentous day in the storied history of Bauer Hockey as the sale of the company is officially complete,” said Davis. “I could not be more energized about what lies ahead for us as a company and I am excited to lead this strong and dedicated team well into the future.”


Under the terms of the sale agreement, Bauer Hockey will continue to develop and market products utilizing the Nike Bauer Hockey trademark for up to two years.

“The chance to help evolve a company's future is a rare opportunity and I am eager to take the reins as president & CEO as we begin this exciting new chapter as a stand alone entity,” said Davis. “Over the past few years, we have developed the sport's most innovative products, built the most coveted brand in hockey and assembled the most dedicated team in the industry. As a result, we have achieved the No. 1 position in the industry and I'm confident that with the added support of our new ownership group, we will continue to meet the high standards that our consumers and retailers demand.”



A former competitive runner, coach and educator, Duggan has more than 26 years at Nike.



“We're pleased to have completed the sale and are delighted that Mark has decided to remain with Nike,” said Lee Bird, president of Nike's subsidiaries group. “Mark leaves Bauer Hockey in excellent shape with record revenue and pretax income and strong positioning as the No. 1 brand in the marketplace. We look forward to benefiting from Mark's leadership talents in other roles at Nike.”


Nike decided to divest Bauer, acquired in 1995, following a strategic review of the company's subsidiary businesses. As part of the company's long-term growth strategy, Nike is optimizing its portfolio of subsidiary brands, which contribute more than $2 billion in annual revenues, to ensure the company is investing in the greatest growth opportunities with the highest returns.

 

Lazard acted as financial advisor, and Tonkon Torp acted as legal advisor to Nike in the transaction. Paul, Weiss, Rifkind, Wharton & Garrison acted as legal advisor to Kohlberg and Mr. Roustan.