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Kohlberg Completes Secondary Sale of Bauer Shares

23.05.13

US private equity firm  Kohlberg & Co.  has completed its previously announced secondary sale of shares in  Bauer Performance Sports Ltd. , a Canadian manufacturer of hockey and lacrosse equipment and apparel. Gross proceeds from the sale totaled C$40 million, leaving Kohlberg with the equivalent of 31% of the company’s issued and outstanding common shares. Kohlberg and  Roustan Capital  acquired Bauer in a corporate carve-out deal in 2008.  In 2011, Bauer raised C$75 million in an initial public offering.

PRESS RELEASE

Bauer Performance Sports Announces Completion of Secondary Offering of Shares by the Kohlberg Funds

TORONTO, ONTARIO–(Marketwire – Feb. 6, 2013) – Bauer Performance Sports Ltd. (“Bauer” or the “Company”) (TSX:BAU) announced today that funds managed by Kohlberg Management VI, LLC (the “Kohlberg Funds”), Bauer’s largest shareholder, have completed the sale of an aggregate of 3,450,000 common shares of the Company (“Common Shares”) at a price of Cdn$11.60 per share, including the exercise in full of the over-allotment option. The offering was completed on a bought deal basis by an underwriting syndicate led by RBC Capital Markets and Paradigm Capital Inc. Bauer did not receive any proceeds from the offering.

Source: Private Equity Hub (press release)