Minnetonka, MN – Shock Doctor Inc. (“Shock Doctor Sports” or “the
Company”), a global leader in mouthguard technology and an innovator of sports protective
and performance gear, announced today that it has been acquired by Bregal Partners, a leading middle market New York-based
private equity firm. Bregal’s investment is in partnership with Shock Doctor Sports’
management; financial terms were not disclosed.
Trusted by athletes around the world who demand performance and
protection, Shock Doctor Sports owns two brands: Shock Doctor, the number one
mouthguard company in the world for over 15 years and creators of sports
protection gear for hockey, football, baseball, basketball, soccer, martial arts, boxing,
and lacrosse, amongst other sports; and Cutters Gloves, an industry
leading line of performance gloves and accessories for football and baseball
made with exclusive C-TACK™ Performance Grip Material.
The new partnership with Bregal creates a platform from which
Shock Doctor Sports can fuel growth and increase its role as a significant
player in the global performance and protective sports equipment market. With a
loyal fan base and meticulous focus on quality and innovation, Shock Doctor
Sports has been one of the fastest growing sporting goods companies in the
world. The Company’s athlete-centric approach and commitment to
developing game-changing technology changed the way athletes view protective
gear.
“Shock Doctor’s groundbreaking, well-designed products have made
protection not something athletes have
to wear but want to wear,” commented
Shock Doctor Sports Chief Executive Officer, Tony Armand. “We have had an
amazing investment partnership over the last six years with Norwest Equity
Partners, and now as we look forward to our next phase of growth, our entire
Shock Doctor team is thrilled to partner with Bregal Partners. Bregal brings a
unique blend of consumer and healthcare investment experience that will undoubtedly
help us achieve our growth objectives and continued success.”
Bergmann added that the transaction gives Bregal a chance to work together for a second time with Armand. “We are also delighted to have the opportunity to again partner with Tony as we’ve had a 15-year relationship. The talent and track record of both Tony and the Shock Doctor management team is a key reason we are so excited about the transaction.”
Tim Kuehl, a partner at Norwest Equity Partners, stated, “We had a very successful investment partnership with Tony and the entire Shock Doctor team. Together we worked hard to increase our position as a market leader in the performance and protective equipment category, created and acquired new products lines which helped to nearly triple overall revenue. Shock Doctor Sports is well-positioned for continued growth and success under Tony Armand’s leadership and with their new investment partner.”
William Blair & Company and Lindquist & Vennum represented Norwest Equity Partners, and Dechert LLP represented Bregal Partners in this transaction.
About
Shock Doctor Sports
Shock Doctor Sports is a leading manufacturer of protective and
performance sports equipment. With a
relentless focus on innovation and technology, its products are trusted by
athletes, from youth to amateur to professional, across a growing number of
sports. Shock Doctor Sports has the world’s leading mouthguard
product line and also provides a full continuum of superior athletic products,
including core protective, compression, performance sports therapy, sports gloves
(under the Cutters® brand), and insoles.
Its products are sold through major sporting goods retailers,
independent dealers, online retailers, and health care professionals throughout
the United States and around the globe.
For more information on Shock Doctor Sports, please visit www.shockdoctor.com and www.cuttersgloves.com.
Bregal Partners is a private investment firm that invests alongside management teams to build industry leading companies in the middle market. Areas of focus include energy services, consumer, food and retail, and healthcare. With $500 million of committed capital funded by a sixth-generation family foundation with roots back to 1841, Bregal Partners brings experience, stability, and a long-term outlook to all of its investment activities. Bregal Partners is part of Bregal Investments, a global family of private equity and fund investment vehicles that has invested more than $9 billion since 2002. For more information on Bregal Partners, please visit www.bregalpartners.com.
About Norwest Equity Partners
As a leading equity investment firm since 1961, Norwest
Equity Partners (NEP) partners with middle market business owners and their
management teams to make growing, profitable companies into industry leaders.
With nearly $5 billion in capital under management, NEP seeks $30mm-$150mm
investment opportunities with a variety of industry sectors, including
agriculture, applied technology, business services, consumer products and
services, diversified industrials and healthcare. NEP is headquartered in
Minneapolis, Minnesota. For more information on NEP, please visit www.nep.com.