Schutt Sports, of Litchfield, Ill., announced on April 5, 2005, it has been recapitalized by management and Gridiron Capital LLC, of New Canaan, Conn. This will provide Schutt Sports with additional capital to develop innovative sports equipment and expand into new lines in team equipment.

“Our relationship with Gridiron Capital will accelerate new product development and open the possibility for Schutt to acquire complementary businesses,” said Julie Nimmons, president of Schutt, which has been in business since 1920. “This is the result of a long search for the right partner to help us compete even more effectively from a platform of innovation.”

“Schutt has been a solid performer and is well positioned for further growth,” said Gridiron Capital’s Managing Partner, Tom Burger. “The company has carved out a strong niche as the leader in innovative protective gear, which is a solid base for introducing new products and expanding market share. Schutt has demonstrated the ability to compete at a high level and we are committed to supporting Schutt’s strong performance by providing additional resources to support and grow the company. We look forward to partnering with Julie and the entire team at Schutt as the company continues its leadership in this expanding market place”

Gridiron Capital, LLC is a private investment firm focused on investing in and growing smaller middle market manufacturing, service and specialty consumer companies in the United States. The firm’s principals have a long and successful history of investing in smaller middle market companies. They are successful private equity investors and business owners and operators with significant business building experience. The Gridiron principals work closely with management teams to develop strategies for the portfolio companies and provide the necessary human and financial resources needed to execute business plans and build the company