Biggest hockey equipment brand up for sale for roughly $110 Billion
CCM, a heavyweight in the hockey equipment arena, favored by NHL luminaries like Auston Matthews, Connor McDavid, and Sidney Crosby, is officially on the market.
According to a Globe and Mail report, CCM's current owner, Birch Hill Equity Partners, is ready to step away from the sports industry, and sell CCM for roughly $110 billion.
"Birch Hill decided to shop Montreal-based CCM after receiving several unsolicited offers for the gear maker from private equity funds, the sources said. They said there is no guarantee the process will result in a sale. Spokespersons for Birch Hill, CCM and Baird declined to comment." - Globe and Mail
The private equity firm took the reins at CCM in 2017 after acquiring it from Adidas AG when it was struggling financially. Since then, CCM has rebounded impressively.
"Since then, CCM, one of hockey's biggest equipment companies, has more than doubled revenue and boosted profits, which are now more than $75M per year.»
Known for its quality and durability, CCM has carved out a name for itself in the hockey world. While the brand is particularly famous for its hockey sticks, it outfits numerous NHL players with a variety of gear.
"CCM provides sticks, skates and helmets to roughly 40 per cent of NHL players, along with Professional Women's Hockey League stars such as Sarah Nurse. The company's major rival is Bauer, which also has approximately 40 per cent of NHL pros using its gear." - Globe and Mail
Given its resurgence and prominence, it's no surprise that CCM caught the attention of potential buyers, prompting Birch Hill to consider unsolicited offers for the company. Reports suggest the sale could fetch a substantial sum.
Source: Bladeofsteel
Hockey equipment brand used by NHL stars up for sale.
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Did you expect CCM to be valued around $110 billion? | ||
| Yes | 28 | 38.9 % |
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