GREENWICH, Conn., June 29, 2012 /PRNewswire/ -- North Castle Partners, a leading private equity firm focused on investments in consumer product and service businesses that promote Health, Wellness, and Active Living, announced today that it has completed the sale of Cascade Helmets Holdings, Inc. ("Cascade"), the leading manufacturer and distributor of lacrosse helmets and eyewear, to Bauer Performance Sports Ltd. (TSX: BAU) for a purchase price of US$64 million.
Cascade is the leading designer, developer, manufacturer and marketer of lacrosse helmets and eyewear in North America, and is one of the most well-recognized brands in the broader lacrosse equipment industry. Leveraging its deep experience in sports, fitness and recreation, North Castle in partnership with Cascade's exceptional leadership team, accelerated new product innovation, doubled sales and built a new line of hockey helmets with hockey legend Mark Messier.
"The growth of Cascade and its sale to Bauer is another example of North Castle's strategy to partner with entrepreneurial management teams to build high-growth brands that are of significant value to strategic buyers," said North Castle Managing Director Alison Minter. "We believe North Castle's experience in sports, fitness and recreation in partnership with Cascade's exceptional leadership team has created a company that is well positioned to capitalize on the wide range of opportunities the company will have as part of Bauer Performance Sports."
"We believe the growth of Cascade illustrates the benefits our focused approach provides to management teams as we partner to build great companies. We are proud to have played an integral role in the development of Cascade, which is representative of the broader value creation that we are driving across our entire portfolio," said North Castle's Managing Partner Chip Baird. "We continue to look for opportunities across the Health, Wellness and Active Living markets to leverage our knowledge, network and experience in building market leaders like Cascade."
ABOUT NORTH CASTLE PARTNERS
North Castle Partners is a leading private equity firm focused on investments in consumer product and service businesses that promote Health, Wellness, and Active Living. North Castle is a hands-on, value-added investor in high-growth, middle market companies in the (i) beauty & personal care, (ii) consumer health, (iii) fitness, recreation & sports, (iv) home & leisure and (v) nutrition sectors, among others. North Castle's current portfolio includes such well-known brands as glominerals, Mineral Fusion, Red Door Spas, Performance Bicycles, Palladio Beauty Group, World Health Clubs, Octane Fitness, Ibex Outdoor Clothing, and Flatout Flatbreads. Prior portfolio company holdings include Atkins Nutritionals, Bora-Bora Organic Foods, Equinox Fitness, EAS, Enzymatic Therapy, CRC Health Group, Doctor's Dermatologic Formula, Naked Juice Company, and Avalon Organics / Alba Botanicals. North Castle and its operating executives and advisors partner with management to bring a wide range of strategic and operational capabilities, as well as an extensive knowledge base and network to build world-class companies. North Castle is headquartered in Greenwich, CT. For more information, visit www.northcastlepartners.com.
ABOUT BAUER PERFORMANCE SPORTS LTD.
Bauer Performance Sports Ltd. (TSX: BAU) is a leading developer and manufacturer of ice hockey, roller hockey, and lacrosse equipment as well as related apparel. The company has the most recognized and strongest brand in the ice hockey equipment industry, and holds the top market share position in both ice and roller hockey. Its products are marketed under the Bauer Hockey, Mission Roller Hockey and Maverik Lacrosse brand names and are distributed by sales representatives and independent distributors throughout the world. Bauer Performance Sports is focused on building its leadership position and growing market share in all product categories through continued innovation at every level. For more information, visit www.bauerperformancesports.com.
ABOUT CASCADE HELMETS HOLDINGS, INC.
Cascade is the leading helmet brand in lacrosse. Cascade was founded in 1986 with a niche focus on designing and manufacturing innovative lacrosse headgear and has expanded into adjacent market segments including women's lacrosse and field hockey eyewear, and whitewater and rescue helmets. In 2009, Cascade partnered with former NHL player Mark Messier to introduce a new branded line of hockey helmets which shared much of the product technology utilized in Cascade's lacrosse helmets.
North Castle Partners
SOURCE North Castle Partners