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Oncap to acquire Sport Supply Group for USD13.55 per share in cash

Sport Supply Group, a marketer, manufacturer and distributor of sporting goods and branded team uniforms, has entered into a definitive merger agreement to be acquired by an affiliate of Oncap Management Partners, the mid-market private equity business of Onex.

Under the terms of the merger agreement, all of the outstanding shares of common stock of Sport Supply Group, other than those held by certain participating stockholders, will be acquired for USD13.55 per share in cash.

CBT Holdings, an affiliate of Andell Holdings, which beneficially owns approximately 16 per cent of Sport Supply Group’s outstanding common stock, and certain members of Sport Supply Group’s management team, have entered into agreements with Oncap to exchange their Sport Supply Group common stock and options, as applicable, for equity of the purchaser entity.

Carlson Capital, which beneficially owns approximately 22 per cent of Sport Supply Group’s outstanding common stock, and CBT, have each entered into a voting agreement with Oncap, and have each agreed to vote their shares in favour of the adoption of the merger agreement.

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