Bauer Hockey has announced today its intention to purchase Cascade Sports, the No. 1 provider of lacrosse helmets and eyewear in North America. In addition to Cascade’s significant lacrosse brand, the acquisition also includes Cascade’s hockey helmet business, which has experienced great success partnering with hockey icon Mark Messier.
Moving forward, Bauer and Cascade will work together to provide the most comprehensive line of helmets that offer the best protection in the industry. As part of the acquisition, Mark Messier and his sister Mary-Kay Messier, will continue to lead the Cascade hockey brand, and join Bauer’s effort to make the game safer through technological advancements, education and awareness. The new Bauer RE-AKT helmet is the first hockey helmet specifically designed to manage all types of hits in hockey, while the Cascade M11 Pro helmet has performed extremely well at the highest-level energy impacts.
See the full press release issued by Bauer Hockey below.
Bauer Performance Sports Ltd. announced it has entered into a definitive agreement to acquire Cascade Helmets Holdings, Inc. (“Cascade”), a leading manufacturer and distributor of men’s and youth lacrosse helmets in North America (the “Acquisition”), for a purchase price of US$64 million, payable in cash and subject to adjustment. The Acquisition is expected to close on or about June 29, 2012, subject to satisfaction of customary closing conditions.
Cascade is the leading designer, developer, manufacturer and marketer of lacrosse helmets and eyewear in North America, and is a leading and well-recognized brand in the broader lacrosse equipment industry. In addition to Cascade’s lacrosse business, the acquisition also includes Cascade’s recently-established hockey helmet business, which has experienced success in the industry with its M11 helmet, which was co-developed with hockey icon Mark Messier. Cascade designs and manufactures all of its products at its operations in Liverpool, NY, which allows it to provide 48-hour turnaround time for custom helmet orders and over 750,000 different color combinations.
One of BAUER’s key growth strategies is to pursue acquisitions of complementary sports equipment companies that require innovative performance products, feature authentic brands, and are or have the potential to become leaders in their categories. The Acquisition of Cascade by BAUER expands BAUER’s presence in the lacrosse equipment industry, adding the industry’s premier line of helmets to the Maverik family of sticks, heads, shafts and protective gear. The transaction also provides an attractive opportunity to leverage BAUER’s commitment to product development and safety, realize attractive cross-selling opportunities, and achieve cost synergies. BAUER intends to leverage Cascade’s patented head-protection technologies and extend and build upon its partnership with Mark Messier to improve player safety through product developments, education and awareness initiatives. BAUER also plans to continue Cascade’s custom manufacturing capabilities for lacrosse and hockey helmets and expects to expand manufacturing at its facility to include BAUER-branded hockey helmets.
“The acquisition of Cascade increases our presence in North America’s fastest growing team sport, and allows us to expand our product offering in our core hockey business through the use of Cascade’s proprietary helmet technology and manufacturing capabilities,” said Kevin Davis, President and Chief Executive Officer, Bauer Performance Sports. “We are very pleased with the similarities in corporate culture and will continue our focus on delivering innovative products which increase player safety and performance. I would like to welcome the Cascade team to the BAUER family.”
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