Schutt Sports got a shot in the arm last week as private equity firm Gridiron Capital LLC took a majority stake in the team sports company. There are no changes planned for the company and Julie Nimmons will remain at the helm of Schutt.
Sports Executive Weekly caught up with Ms. Nimmons last week after the recapitalization was announced. She said that Gridiron was chosen as a partner due in large part to their experience with family businesses. Judging by the firms name, its affinity for sports (and competition) certainly didnt hurt either. Gridiron managing partner Tom Burger played football at Duke.
“Gridiron has great resources to help us grow the business,” Nimmons told SEW. “This is such a great opportunity for Schutt.” Julie alluded to a number of initiatives that may be part of the companys future, including new product introductions and some acquisitions “that make sense.”
Based on consolidation of the market, and the hungry nature of the newly energized Riddell Bell Sports business, this is probably not a bad time to line up with solid players that can infuse capital and other resources into a business that will have to play offense to grow.