TPS Hockey and its parent company, Hillerich & Bradsby Co., owner of the Louisville Slugger brand, have signed a Letter of Intent to sell majority interest in their global hockey operation to TPS Sports Group Inc., a Canadian company lead by industry veteran John Pagotto. TPS Sports Group says it expects to finalize the strategic partnership by the end of August.

H&B’s Clark and the TPS Sports Group also say that the transition to the new entity will be seamless to the TPS Hockey customers with manufacturing and distribution operations remaining the same. “Proprietary manufacturing and distribution processes in Wallaceburg, Ontario along with proximity to the border will allow TPS to continue servicing its North American retail customers, teams, and the NHL players in a fast and efficient manner,” says Pagotto.