Team Insight

END ZONE 34 • Team Insight ~ September/October 2024 teaminsightmag.com KKR Finalizes BSN Buy Putting the final paperwork together, last month Varsity Brands and the investment firm of KKR have completed the ac- quisition of Varsity Brands from Bain Capital and Charlesbank. Varsity Brands is comprised of BSN Sports and Varsity Spirit. According to a report from Reuters, the deal is said to be worth $4.75 billion. is certainly isn't the first time Varsity Brands has been acquired by a private equity firm. Bain acquired the company in 2018 from private equity firms Charlesbank Capital Partners and Partners Group for around $2.5 billion. In a release announcing the finalization of the deal, KKR said that the "Varsity Brands plat- form offers an extensive range of high-quality, customized solutions, services and experi- ences that support school and team sports, athletics and spirit programs, reaching over eight million athletes and students annually." KKR will reportedly support Varsity Brands in creating an equity ownership program to allow all the company's employees to participate in the benefits of ownership. KKR said this strategy is based on the belief that employee engage- ment through ownership is a key driver in building stronger companies. Since 2011, over 50 KKR portfolio companies have awarded "billions of dol- lars of total equity value to over 100,000 non-senior management employees." S&S Acquiring Alphabroder S&S Activewear is acquiring Alphabroder, bringing together two competitors that sell to ap- parel decorators, promotional product distributors, online re- tailers, team dealers and lifestyle brands. e move by S&S Activewear, based in Bolingbrook, IL, builds on its recent investments in its North American network — since 2015 the company has established 12 distribution centers, creating a nationwide coverage network to serve 99 percent of the United States, Canada and Puerto Rico within two days. As part of the transaction, S&S Activewear says it will make investments in technology, the integration and expansion of its sales force and its supply chain and distribution capabilities. e plan is for S&S Activewear and Alphabroder to continue to sell under their respective brands and existing distribution channels. Chipply Adds Two Execs Team web store provider Chipply recently named Meghan Brazzelle as senior territory manager and Patrick Tolivar as territory sales representative. Brazzelle has more than 18 years of experience in the printwear industry and will be responsible for implement- ing strategies and optimizing processes. Tolivar has nine years of ex- perience at Augusta Sportswear Brands, where he managed more than 600 accounts. In his role, he will manage key accounts, develop new busi- ness opportunities, maintain relationships and achieve am- bitious sales targets within the designated territory. Brazzelle and Tolivar will report to Grace Schettler, SVP– sales for Chipply. n SFIA Names Smith President/CEO The Sports & Fitness Industry Association (SFIA) has appointed Todd Smith as its new president and CEO. Smith succeeds current president/CEO, Tom Cove, who earlier this year announced his retirement after leading the organization since 2005. Smith joins the SFIA after serving as the senior VP at the U.S. Chamber of Commerce, the world's largest business organization. In this role, he was a leader in expanding the association's membership network, creating new programs and resources for U.S. Chamber members, and advancing the advocacy and policy priorities of the business community. Prior to joining the U.S. Chamber of Commerce, Smith was a director of global partnerships for AEG, a leader in the sports and entertainment industry. His extensive industry experience, having worked across the professional sports sector with the NBA's Sacramento Kings, NHL's LA Kings, and MLS's LA Galaxy as a leader in sponsorship sales, marketing and fan development, provides Smith with a deep understanding of the needs of SFIA's members. He holds a master's degree in sports management from LSU and a bachelor's degree from UCLA. "I am excited to have Todd join the SFIA," says Jon Ram, chairman of the SFIA Board of Directors and former CEO, C&J Clarks Shoes. "He embodies the energy and values of the SFIA and our members. It was a challenging process to find a leader capable and suitable of following in Tom's footsteps and exceptional leadership." "I'm thrilled to have Todd coming aboard," adds Mike Zlaket, chair of the SFIA Board Search Committee and CEO of Rawlings Sporting Goods. "Tom Cove is retiring with a long, successful legacy and leaves big shoes to fill and Todd really checked all the boxes during the search pro- cess. I am confident he will be a tremendous leader who will represent our industry with class, creativity, and passion, and I know we have a very bright future ahead of us under Todd's leadership." n Three Named to Hall of Fame Class of 2015 e recently announced Class of 2025 of the Sporting Goods Industry Hall of Fame features three inductees who made significant contributions to different segments of the industry. Led by the late John Cardinal (top photo), of team dealer Cardinal's Sporting Goods, the class also in- cludes Chris Considine (center photo), of Wilson Sporting Goods, and E.J. "Ned" Hamilton of Peter Glenn Ski & Sports. e three will join 185 retailers, team dealers, manufacturers and industry influencers who have been honored with induction into the Hall of Fame since it was established by the National Sporting Goods Association (NSGA) in 1955. "e Class of 2025 is a phenomenal group of inductees who made great contributions to the industry," says Gordon Geiger, chairman of the NSGA Board of Directors. "Welcoming them to the Hall of Fame is a huge thrill and it's wonderful to see them recognized and honored for their accomplishments and careers." e Hall of Fame dinner and induction ceremony will be held May 20, 2025 at the PGA National Resort in Palm Beach Gardens, FL, the site of the NSGA Leadership Conference. HOF Class of 2025 (from left): John Cardinal, Chris Considine and Ned Hamilton.,

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