North Castle Partners to Sell Cascade Helmets to Bauer Performance Sports

GREENWICH, Conn., June 14, 2012 /PRNewswire/ -- North Castle Partners, a leading investor in small-cap consumer companies focused on health, wellness and active living, has reached a definitive agreement to sell Cascade Helmets Holdings, Inc. ("Cascade"), a leading manufacturer and distributor of men's and youth lacrosse helmets in North America, to Bauer Performance Sports Ltd. (TSX: BAU) ("BAUER") (the "Acquisition") for a purchase price of US$64 million, payable in cash and subject to adjustment. The Acquisition is expected to close on or about June 29, 2012, subject to satisfaction of customary closing conditions.

Cascade is the leading designer, developer, manufacturer and marketer of lacrosse helmets and eyewear in North America, and is a leading and well-recognized brand in the broader lacrosse equipment industry. In addition to Cascade's lacrosse business, the acquisition also includes Cascade's recently-established hockey helmet business, which has experienced success in the industry with its M11 helmet, which was co-developed with hockey icon Mark Messier. Cascade designs and manufactures all of its products at its operations in Liverpool, NY, which allows it to provide 48-hour turnaround time for custom helmet orders and over 750,000 different color combinations.

"The sale of Cascade continues to validate our strategy to partner with entrepreneurial management teams to build high growth brands for sale to strategic buyers," said North Castle Managing Director Alison Minter.  "North Castle, leveraging its deep experience in sports, fitness and recreation 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." 

"We are proud of our role in the Cascade transaction, which is representative of the broader value creation that we are driving across our entire portfolio," remarked 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 small-cap consumer private equity investor with a focus on the health, wellness and active living markets. North Castle's mission is to partner with entrepreneurial management teams to build great companies both through tangible value creation initiatives that leverage its deep experience, knowledge base and network, and by pursuing a values-based approach that promotes stronger partnerships. North Castle's current portfolio includes such well-known brands as Flatout Flatbreads, Ibex Outdoor Clothing, glominerals, Mineral Fusion, Red Door Spas, Performance Bicycle, World Health Club, Cascade Helmets, Octane Fitness and Palladio Beauty Group. Prior portfolio company holdings include Naked Juice Company, Enzymatic Therapy, Equinox Fitness, EAS, CRC Health Group, Doctor's Dermatologic Formula, and Avalon Natural Products. 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.

Contact:         Alison Minter
                     North Castle Partners
                     203-862-3261

SOURCE North Castle Partners