Fenway Partners - Investments

Investments

Among the firms most notable investments are Targus, 1-800 Contacts, Coach America, Riddell, Bell Sports and Easton.

Targus Corporation.

Fenway Partners acquired Targus Group International, an Anaheim, California based company, for the sum of $382.5 million on November 22 of 2005. During the acquisition of Targus, the managing director at Fenway Partners, Timothy Mayhew, was quoted saying; “Targus has many of the elements Fenway looks for, including a leading market position, a diversified revenue base with high barriers to entry, strong free cash flow and dynamic industry characteristics. Targus was the original creator of carrying cases for potable computers and have since expanded into multiple electronics accessories including; backpacks, locks, keyboards and keypads, privacy screens, to name a few, and most recently with their acquisition of Sena, a high quality leather case maker, into the market of cases for smart phones.

1-800 Contacts

In 2007, Fenway Partners acquired 1-800 Contacts, a vendor and distributor of brand name contact lens, located in Draper, Utah. The price set for the acquisition of 1-800 Contacts was at premium of 21% over the highest reported share value within the last year and 34% over the closing price within the last month. In total, the purchase price was valued at $340 million.

On june 20th of 2012, Co-Founder of Fenway Partners, Peter Lamm, was quoted stating “We are very pleased with the outcome of our investment in 1-800 Contacts” after Fenway Partners sold 1-800 Contacts to WellPoint Inc., a health benefits firm, for a sum of roughly $900 million.

Riddell Sports Group

On July 7, 2003, Fenway Partners proudly announced their acquisition of Riddell Sports Group a sporting goods manufacturer. Riddell helmets are won by more than 85% of NFL players, and in 2002 they released the first computer engineered football helmet in its efforts to help reduce concussions among athletes. As the leading manufacturer of football helmets, among other products such as pads and collectible replica items, Riddell posted revenues of over $100 million in 2002, the same figure for which it was acquired by Fenway Partners the following year.

Bell Sports

Bell Sports, a helmet and apparel manufacturer, was acquired by Fenway Partners in August 2004. Bell was acquired for an estimated $240 million. The purchase of Bell Sports, who’s owner investors had planned to sell the company back in April, was powerful move for Fenway Partners as it planned to merge its newest asset with their recently acquired Riddell Sports Group.

Among the firm's most notable realized investments are high-end jewelry retailer Harry Winston and the Simmons Bedding Company.