Fenway Partners - Mergers

Mergers

Riddell Sports Group/Bell Sports

“This is a merger of strengths in a sense” stated Tim Mayhew, managing director for Fenway Partners, who acquired Riddell Sports Group in 2003, and Bell Sports in 2004. The purchase of Bell was very fitting in expanding Fenway’s market share in the sports industries. By combining both these industry leaders, Bell from action sports and Riddell from the football industry, the company will now have the largest research and development facility, based in Santa Cruz, California., geared towards head protection in the world. Combined, these companies will now be producing over 8 million helmets a year and is expected to earn revenues upwards of $300 million in 2004. CEO and president of Bell Sports, Bill Fry, was appointed to lead the combined companies’ management team due to his efforts, in putting Bell back on top of their market, since he joined in 2001. Bill Sherman, Riddell CEO will remain in his current position as well as serving on the board of directors in regards to the company.

Riddell Bell Holdings/Easton Sports Inc.

Two years after the merger of Riddell and Bell, Fenway Partners were at it again by proposing a merger with their newest entity Riddell Bell Holdings and Easton Sports Inc. Easton is a sporting goods industry leader with departments spanning from cycling to baseball, hockey, motocross and even archery. In the past Easton has consistently earned yearly revenues similar to those of Riddell Bell and as a combined entity is expected to break the $600 million mark. Easton Sports Inc. was a subsidiary company of Jas D. Easton and its only subsidiary who was part of the merger. The head of Easton Sports, Jim Easton, was appointed Chair of the new combined entity. While the Riddel Bell merger earned Fenway a world leader in research and development in their fields, this merger created a behemoth in the sporting goods industry which will be “unsurpassed” stated Bill Sherman CEO of Riddell. Anthony Palma, who served as Easton’s CEO and president until 2008, said about Fenway’s new prized entity; “This company is now the number one baseball company, the number one football company, the number one in bike helmets, number one in snow helmets and the number one hockey innovation company. Yeah, there's a lot of number ones here. We like that."