Purchase Brings Remaining Adams USA Brands Under the Schutt Umbrella; Breathes New Life into Iconic Name in American Sporting Goods
November 12, 2014 – LOS ANGELES – Platinum Equity portfolio company Schutt Sports, a leading domestic manufacturer of protective sports equipment and aftermarket reconditioning services, today announced the acquisition of additional assets of Adams USA.
In 2011, Schutt acquired the Adams USA football helmet and faceguard assets. The transaction announced today brings the remaining Adams USA brands and product lines under the Schutt umbrella, including the Trace, Bolco, Neumann and Bucks brands, as well as various other product and marketing assets.
Platinum Equity acquired Schutt in December 2010. Jacob Kotzubei, the partner at Platinum Equity whose team led the acquisition, said the latest Adams USA transaction further demonstrates the strong commitment to Schutt’s growth and expansion.
“This is another important strategic acquisition that will expand Schutt’s product line and maximize the company’s world class manufacturing and marketing capabilities,” said Kotzubei. “We will continue looking for new opportunities to expand the business organically and through additional investments.”
“This acquisition is important for the growth of our company and represents another important step in achieving our long-term strategic vision,” said Schutt President and CEO Robert Erb. “This investment will bolster our product lines, providing a broader offering to our customers. It will also ensure that Adams USA, an iconic name in American sporting goods, remains alive and thriving.”
Headquartered in Tennessee since its beginning in 1947, the history of Adams USA is intertwined with the rise of sports and the sporting goods market in America over the past half century.
“Schutt is committed to being an American manufacturer, providing quality jobs for American workers, and competing in the global marketplace as an American brand,” said Erb. “With its long history as a domestic manufacturer of high-quality products, Adams USA is an ideal fit.”
Schutt produces many other protective gear lines in both football and baseball/softball. In addition, Schutt is the Official Base Supplier to Major League Baseball.
“Our plan is to revitalize the Adams USA brand and build upon its rich history in the American sporting goods marketplace,” Erb said. “There’s still much that can be accomplished with Adams USA and we believe Schutt is the right partner to help extend its legacy.”
Erb added that potential new product lines could be created as a result of the integration, which would be exciting news for the sales forces at both Schutt and Adams USA.
“Our sales force will remain in place and will continue to serve the customers who’ve grown to rely on them over the years,” said John Bartlett, Director of Sales for Adams USA. “Our independent sales groups have always been the key to our success and they’ll continue to represent the Adams USA brand as we go forward.”
About Platinum Equity
Founded by Tom Gores in 1995, Platinum Equity is a global investment firm with more than $7 billion in assets under management and a portfolio of operating companies that generated approximately $15 billion in revenue in 2013. Platinum Equity specializes in mergers, acquisitions and operations – a trademarked strategy the firm calls M&A&O® – acquiring and operating companies in a broad range of business markets, including manufacturing, information technology, telecommunications, transportation and logistics, media, equipment rental, metals and other industries. Over the past 19 years Platinum Equity has completed more than 150 acquisitions. For more information, visit Platinum Equity’s website: www.platinumequity.com.