U.S.-based sports court manufacturer Connor Sport Court Int’l was acquired in a stock purchase by int’l floor manufacturer Gerflor on Wednesday. Connor -- which has two U.S. manufacturing sites and 250 employees -- is now part of Gerflor's massive global presence, which includes 2,500 employees and eight production sites worldwide. Financial details were not disclosed, but Connor CEO Ron Cerny called it a major milestone for both parties. "It is historic for our company," Cerny said. "Without a doubt, this is historic for our company and I believe it's historic for Gerflor. By acquiring Connor Sport Court, they are doubling their sports involvement. We've doubled the size of all of their business in sports, which is significant for them." Connor's current clients include the NBA, NCAA, FIBA and the U.S. Tennis Association, among others. The manufacturer does an estimated 70% of its business in North America and 30% internationally. The merger with Gerflor comes on the heels of Connor providing six basketball courts throughout Spain for the FIBA World Cup, which took place in August and September. Cerny said that linking up with a company in Gerflor with a nearly opposite ratio -- 80% int’l compared to 20% in North America, per Cerny -- was a natural fit. "The complement of both companies together is perfect," Cerny said. He added that he expects the deal to provide his "relatively small" company with a major jolt. "What really excites me about it is we're a relatively small company," he said. "Even though we have top brands like Connor Sports and Sport Court, we have limited resources because we're a small company. ... Now with Gerflor and their resources helping us move ahead, to me that's very exciting."
SIMILAR DNA: Throughout the talks leading up to Wednesday’s acquisition, Cerny said it became clear that the companies share many of the same ideals and practices. He also became confident Gerflor wanted to combine resources in a manner that would not compromise Connor's autonomy. Cerny: "They're very much into having us autonomously run our business but come to them for the assistance and resources and so forth to help continue doing what we're doing. ... It's very much, 'Hey, keep doing what you're doing, and where we can help support you?'" The last merger involving Connor saw what was then known as Connor Sports merge with Sport Court in '05 to form Connor Sport Court Int’l. Based on his relationship with Gerflor CEO Bertrand Chammas, whom he met eight years ago, and collaboration between the companies in recent months, Cerny called being purchased by Gerflor a "much stronger" fit. He said, "Each step of the way, every meeting that we've had with our employees, every planning meeting, just general discussions, this is so aligned with what we've been looking at and how we look to do business and how they do. I feel very, very comfortable that this fit is going to be a much easier transition and a very seamless process."
