Gared Holdings has been acquired by Gen Cap America. The Gared management team, led by CEO Kevin Needler, will remain with the company and continue to run daily operations.
Gared is a manufacturer and marketer of athletic equipment to schools and other institutions. Products include equipment for basketball, volleyball, tennis, soccer, futsal, handball, field hockey, lacrosse, netball, baseball, football, and others. Gared also manufactures indoor and outdoor bleachers and benches, and markets a line of privately branded shot clocks and scoreboards. Gared operates under the Gared Sports, Performance Sports Systems, and Gared International brand names. The company was founded in 1922 and is located north of Indianapolis in Noblesville, IN (www.garedsports.com).
“We are thrilled to have the opportunity to be partnering with Kevin and his team at Gared,” said Gen Cap Managing Director Chris Godwin. “Their culture and expertise position Gared well for significant future growth.”
Gen Cap America invests in companies with revenues between $5 million and $100 million that are active in the manufacturing, distribution or service sectors. The firm is currently investing through Southwest Fund VII, a $250 million fund which closed at its hard cap earlier this month. Gen Cap was founded in 1985 and is based in Nashville (www.gencapamerica.com).
The buy of Gared is the second acquisition completed by Fund VII within the past two months. In November 2016 the firm acquired Pyramyd Air, a Solon, OH-based distributor of air guns, airsoft guns and BB guns, as well as ammunition and related parts and accessories (www.pyramydair.com).
© 2017 Private Equity Professional | January 18, 2017
