KORE OUTDOOR ANNOUNCES COMPLETION OF SALE TO IRONBRIDGE EQUITY PARTNERS AND MANAGEMENT

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Transaction provides Kore with enhanced platform to support innovation and continued growth as the recognized global leader in paintball products

MONTREAL, Aug. 26, 2022 /PRNewswire/ - Kore Outdoor ("Kore" or the "Company"), the world's premier manufacturer and supplier of high-quality paintball products, today announced that Ironbridge Equity Partners ("Ironbridge") of Toronto, Ontario together with management, have acquired a controlling interest in the Company from Fulcrum Capital Partners.

Based in Montreal, Quebec, Kore is the leading manufacturer and distributor of paintballs and paintball-related products globally. Through its manufacturing facilities in Montreal and Fort Wayne, Indiana, and a network of distribution centers across North America and Europe, the Company offers its comprehensive portfolio of products to game fields, specialty retailers, e-commerce and mass retailers in over 70 countries.

"We are excited about this strategic partnership with Ironbridge and the enhanced platform it will provide us as we continue to execute on our growth vision," said Billy Ceranski, CEO of Kore. "Ironbridge has a long history of providing the investment necessary to fund long-term growth and innovation for its investee companies.  Ironbridge's commitment to the Kore team and vision will be an integral part of our success going forward."  

Backed by Ironbridge, Kore plans to execute a strategy that includes ongoing product innovation, strengthened relationships with customers, and a continued commitment to promoting the growth of the paintball industry.

Mr. Ceranski added, "We have seen a strong resurgence in new players entering into the sport of paintball following the challenges of 2020-21. We look forward to continuing to play a leadership role and helping to provide a great recreational outlet for the passionate supporters of our sport around the world."

"Kore is the worldwide leader in paintball, with a broad portfolio of well-known and innovative brands," said Peter Dowse, Managing Partner at Ironbridge. "We are excited to support the Company's management team as they promote the continued growth of the industry."

Following this transaction, Kore will continue to offer a portfolio of diversified brands in North America and Europe, which includes G.I. Sportz, Empire, Tippman, Spyder, JT and VForce. Collectively, these brands comprise the world's best-selling and most comprehensive suite of paintball products.

Kore Outdoor Inc. manufactures and distributes paintballs, markers and related accessories.  Kore serves a worldwide customer base of paintball fields and stores. Kore is recognized as a global leader in the manufacturing of high-quality paintball products which are marketed to individuals at all levels of play, from entry level to competitive play market segments.

Ironbridge is a Canadian private equity firm whose strategy is to make equity and equity-linked investments in high-quality, mid-market, Canadian private companies. Target industries include consumer and business products and services, manufacturing, and distribution. The operating background of the principals enables Ironbridge to be a high-value partner to management teams as they seek to improve and grow their businesses. Ironbridge's assets under management are over $700 million, including its fourth private equity fund, Ironbridge Equity Partners IV, LP, a fully committed $383 million fund raised in November 2021.

SOURCE Kore Outdoor Inc.