Lowenstein Sandler represented Riddell, Inc., the industry leader in football helmet technology and sports protection innovation, in the formation of a strategic partnership with BC Partners Credit, the credit arm of leading alternative asset management firm BC Partners, that will further advance Riddell’s central role in the game of football into the future.
Founded in 1929 and based in Des Plaines, Ill., Riddell is an iconic brand serving the football equipment market and sports community for nearly a century. Riddell is the premier designer and manufacturer of football helmets, protective sports equipment, head impact sensing and reporting technologies, and related apparel and accessories. The Company also serves as the exclusive licensee of the NFL for collectible helmets and maintains promotional rights with the League as an authorized supplier of helmets worn by more than 77% of NFL players. Riddell is deeply involved in football with key touchpoints at the grassroots level as representatives are strategically based in local communities to address customer needs and provide support.
Riddell’s historically strong growth and financial performance have only improved in recent years, driven by the company’s robust head protection and technologies roadmap, increased market share, and positive football participation trends. BC Partners’ $400 million investment in Riddell, which includes convertible preferred equity and debt, will empower Riddell to accelerate innovation and make compelling investments in the business for the benefit of all stakeholders. BC Partners will join Riddell’s Board, working closely with Riddell’s management team and committed investors, including majority investor Fenway Partners, who have been pivotal to Riddell’s longstanding success. Riddell will refinance certain existing debt and provide a dividend to current investors as part of the transaction.
The Lowenstein deal team included Steven E Siesser, Brooke A. Gillar, Marc S. Kurzweil, Lesley P. Adamo, Darren A. Goodman, Zarema A. Jaramillo, Anita Chapdelaine, Deangeor Chin, Louise Gong, Stephen Tanico, Melissa D. Libutti, Melissa K. Parres, Elena Scialabba, Yarissa Subervi, Jessica I. Kriegsfeld, Yvette Yun, Bonnie E. Schipper, Billy Fausto Michaca, Sophia Yi-Hun Kim and Bryce Kelly.
