Cal, Oregon To Play At Levi's Stadium Rant Sports Parent Closes $3M Round Of VC KKR Withdraws IMG Bid Bornstein, Shapiro Advising Competing Bids For IMG CAA Out Of Hunt For IMG Disney Reports Higher Q4 Earnings Second Round Of Bids For IMG Were Due Thursday Adidas' Q3 Operating Profit, Sales Drop 21st Century Fox Revenues Exceed Forecasts ACC Football Attendance Declining
Fenway Partners Set To Merge Bell & Riddell Sports Groups
Published August 13, 2004
Private equity firm Fenway Partners has reached an agreement in principle to acquire helmet and apparel manufacturer Bell Sports for nearly $240M. The acquisition will merge Bell and Riddell Sports Group, which Fenway purchased in June ’03. The company will produce headwear and accessories for action sports and football. Bell President & CEO Bill Fry will lead the combined management team, while Bill Sherman remains Riddell President & CEO and will serve on the BOD (Fenway). Fenway Partners Managing Dir Tim Mayhew indicated that the combined company will have about $300M in revenue in ’04 and “make more than eight million helmets.” No job cuts are expected. Mayhew: “This is a merger of strengths in a sense.” The new company will be based in Irving, Texas, where Bell is based, with a sales office in Chicago and an R&D facility in Santa Cruz, California (BLOOMBERG NEWS, 8/13).