Funds advised by mid-market private equity firm Equistone Partners Europe will sell their majority stake in Sport Group, a German manufacturer of artificial turf and synthetic outdoor sports and leisure surfaces, to New York-based private equity firm KPS Capital Partners.
The transaction is subject to regulatory approvals and financial details have not been disclosed.
Equistone acquired its majority stake in Sport Group in 2015, overseeing nine acquisitions during the holding period, broadening the manufacturer’s presence within key growth markets such as Australia, the US and Malaysia, and advancing development of sustainable products. According to a press release, Sport Group saw its revenues more than double during Equistone’s holding period.
In a press statement, Dr Marc Arens, Senior Partner and Head of DACH/NL at Equistone, said: “The global dimension and the large number of growth opportunities in this market segment make long-term investments very attractive. Sport Group has developed extremely well over recent years.
The strategic steps we have taken together with the management team have strengthened the company and helped to expand its strong position in the European market, which it already held at the beginning of our investment period, to the global landscape.”
Burgheim-headquartered Sport Group was founded in 1969 and caters to the German market, as well as Europe, Australia and the US. Its customers include football clubs, sports companies and event organisers such as FC Bayern Munich, the US Open and the Olympic Games. The group currently comprises 19 subsidiaries in nine countries and employs over 1,900 people.
Equistone was advised by Houlihan Lokey, William Blair, BCG, Deloitte, Ernst & Young, Latham, PwC, Crescendo and Goodwin.
