Press Release
Schutt Sports Announces New Partnership
Partnership Will Fuel Growth and New Product Development
Litchfield, IL (April 2005) — Schutt Sports, of Litchfield, Illinois, announced today it has been recapitalized by management and Gridiron Capital, LLC of New Canaan, CT. The recapitalization will provide Schutt Sports with additional capital to develop innovative sports equipment and expand into new lines in team equipment. “Our relationship with Gridiron Capital will accelerate new product development and open the possibility for Schutt to acquire complementary businesses,” said Julie Nimmons, President of Schutt, which has been in business since 1920. “This is the result of a long search for the right partner to help us compete even more effectively from a platform of innovation.”
“Schutt has been a solid performer and is well positioned for further growth,” said Gridiron Capital’s Managing Partner, Tom Burger. “The company has carved out a strong niche as the leader in innovative protective gear, which is a solid base for introducing new products and expanding market share. Schutt has demonstrated the ability to compete at a high level, and we are committed to supporting Schutt’s strong performance by providing additional resources to support and grow the company. We look forward to partnering with Julie and the entire team at Schutt as the company continues its leadership in this expanding marketplace.”
The Schutt brand is synonymous with innovation in sports equipment, from the pros to youth leagues. Schutt is the largest provider of football helmets and faceguards in the world and also markets innovative, high quality, protective and field/court equipment for softball, baseball and basketball. Schutt, the Official Base Supplier of Major League Baseball®, also markets collectible football helmets and bases to promote fan enjoyment. Schutt has introduced many of sports’ most important advances in equipment and continues to do so today. Schutt is The Gear That Makes The Game™.