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many ways, inefficient," Platinum Equity co-president Louis Samson said in a state- ment announcing the deal. In late November, Minneapolis-based Norwest Equity Partners (NEP) acquired United Sports Brands (USB), the parent of Shock Doctor, McDavid, Cutters, Nathan, Pearly Izumi and Glukos. Tony Armand, an NEP partner and former CEO of USB/Shock Doctor and CEO of Bravo Sports, tells Team Insight that NEP already had a history of investing in the sports space, including acquiring Shock Doctor in 2008 and selling it to Bregal Partners in 2014. "As we evaluate investment opportunities, we look for profitable, indus- try-leading companies like USB where we believe our experience can help accelerate their continued growth," Armand explains. Armand says NEP particularly saw an op- portunity to support USB's growth overseas, but overall expects continued investment in innovation to drive growth across USB's portfolio. "ere is always significant inter- est in great brands," he adds. "e sporting goods and team sports markets tend to be resilient across almost any macro-economic landscape, which has likely led to more in- terest over the past few years." On the team dealer side, Trivest, a Miami- based PE player, recapitalized and merged Athletic Supply and Barcelona Sports in 2018 and then acquired six other dealers to form Game One in 2022 and join BSN Sports as a consolidator in the dealer space. "Being an athlete taught many of us the value of hard work, competition and being a great teammate," said Russ Wilson, a Trivest partner, at the time of the deal. "Our drive, our resources and our relationships give Game One the competitive edge." In last year's purchase of majority control of Longstreth Sporting Goods, which now specializes in field hockey, Cincinnati- based Roebling Capital Partners provided a "liquidity" solution for the owners who ini- tially purchased the business from founder Barbara Longstreth in 2008. Wes Goebel, Roebling's managing direc- tor, says the co-owners, John Schaefer and David Dahle, continue to run the business but were nearing retirement age and looking for some return on their investment as the business transitions to new management. "We help folks transition out of the day- to-day management," he says." At the same time, they achieve some liquidity for their personal financial situation." Longstreth represents Roebling's first investment in the sports space, but Goebel says the investment "resonated" with the firm's investor group that largely consists of current or retired small business owners. Goebel adds that Roebling appreciates the "underlying stability" of sports with parents highly likely to continue to support their kids' sports needs even in challenging times. Women's sports are also seen as a growth opportunity and Roebling liked investing in an asset that empowers women. "Each of us has a daughter, so it's more fun to be invested in something like this directly than to be in ball bearings or something," he points out. Finally, Goebel sees potential in field hockey, with pockets of strength in the U.S. in the Northeast, Mid-Atlantic and Midwest. He's also hopeful that the U.S. Women's National Field Hockey Team's recent qualifi- cation for the Summer Olympics provides a boost to the sport. teaminsightmag.com May/June 2024 ~ Team Insight • 11

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