Rapidly following its buy of Divisions Maintenance Group earlier this month, Roark Capital has now made an investment in US Sports Camps.
According to Roark, US Sports Camps (USSC) is the nation’s leading youth sports camp company, serving more than 100,000 campers across more than 1,200 camps in 48 states.
USSC is the licensed operator of Nike Sports Camps and supports more than 19 different physical sports including baseball, basketball, field hockey, football, golf, soccer, softball and others; e-sports including Call of Duty, Fortnite, Minecraft and others; and academic programs for campers ranging from 6 to 18 years old. The company was founded in 1975 by Charlie Hoeveler and is headquartered near San Francisco in San Rafael, California.
As part of this transaction, EVP Justin Hoeveler, the son of the founder who has been with the company for nine years, has been named as the new CEO of USSC. Charlie Hoeveler will remain with the company as a member of its board of directors and as manager of its tennis division.
“Sports and other connected activities are instrumental to the development, health, and well-being of kids,” said Justin Hoeveler. “We are excited to partner with Roark to leverage their experience growing multi-location, consumer businesses, as we continue to expand our youth activities platform across sports and beyond.”
“We have great admiration for what the US Sports Camps team has accomplished over the past 40+ years,” said Mike Thompson, a managing director at Roark. “We love US Sports Camps’ purpose-driven model that enables talented coaches and camp directors to focus on coaching and youth development. We are excited to partner with Justin, Charlie, and the team as they embark on their next phase of growth.”
Roark Capital Group invests in companies that have revenues from $20 million to $5 billion and EBITDA from $10 million to $500 million. Sectors of interest include franchised and multi-unit business models in the retail, restaurant, and service sectors; consumer products; consumer and business services; and environmental services. Roark is headquartered in Atlanta with an additional office in New York City.
In November 2018, Roark completed fundraising for its two newest funds, Roark Capital Partners V LP and Roark Capital Partners II Sidecar LP, with a total of $6.5 billion of capital commitments.
Private Equity Professional | September 1, 2020