Leading Composite Technologies to Strengthen and Expand Multi-Brand Sports Portfolio
EXETER, NEW HAMPSHIRE -- Bauer Performance Sports Ltd. today announced it has entered into a definitive agreement to acquire substantially all of the assets of Combat Sports ("Combat"), a leading designer of composite baseball and softball bats, hockey sticks and lacrosse shafts. The acquisition will provide Bauer with advanced composite technologies and strong intellectual property to further strengthen its industry-leading research and development capabilities across its platform of high-performing sports equipment.
"Combat Sports has a history of success in delivering innovative composite technologies to the sporting goods industry, and we are excited to add their knowledge and expertise to Bauer Performance Sports," said Kevin Davis, President and Chief Executive Officer of Bauer. "In addition to their experience in the ever-evolving composites industry, Combat has had significant success with certain baseball and softball products, and we look forward to building their brand and expanding their portfolio of products in the future."
Bauer plans to explore and combine relevant composite technologies where applicable to strengthen its overall hockey stick and lacrosse offerings under the BAUER and MAVERIK brands. Combat and several of the company's key employees have had a long history of expertise in composite materials, including developing innovative products for NASA, the U.S. Military and several leading manufacturers. By focusing resources in the areas of Combat's success - baseball, softball and advanced composite technologies - Bauer expects to strengthen the COMBAT brand and grow its overall portfolio of high-performing products.
The acquisition of Combat will be funded from cash on hand and is expected to be accretive in the first year of operation. Bauer anticipates the acquisition to close in the coming weeks, subject to satisfaction of customary closing conditions and certain other approvals.
"Our expectation is that Canadian-based Combat will remain in its current Ottawa, Ontario and Kent, Washington locations, and we intend to continue manufacturing in Canada," Davis said. "In addition, we fully expect that Combat's previous leadership team and many key employees will be employed by the company after the closing of the transaction."
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, MISSION, MAVERIK, CASCADE and INARIA 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 COMBAT SPORTS
Combat Sports has been supplying composite and hybrid composite products for both its own brand as well as for high-end brand name companies since 1998 in the baseball/softball bat, hockey stick and lacrosse shaft markets. Combat has a reputation for its premier and innovative composite technology with the latest composite advancements in performance and durability serving players from the grassroots level to the elite professional levels.