Bergmann added that the transaction gives Bregal a chance to work together for a second time with Armand. “We are also delighted to have the opportunity to again partner with Tony as we’ve had a 15-year relationship. The talent and track record of both Tony and the Shock Doctor management team is a key reason we are so excited about the transaction.”
Tim Kuehl, a partner at Norwest Equity Partners, stated, “We had a very successful investment partnership with Tony and the entire Shock Doctor team. Together we worked hard to increase our position as a market leader in the performance and protective equipment category, created and acquired new products lines which helped to nearly triple overall revenue. Shock Doctor Sports is well-positioned for continued growth and success under Tony Armand’s leadership and with their new investment partner.”
William Blair & Company and Lindquist & Vennum represented Norwest Equity Partners, and Dechert LLP represented Bregal Partners in this transaction.
Bregal Partners is a private investment firm that invests alongside management teams to build industry leading companies in the middle market. Areas of focus include energy services, consumer, food and retail, and healthcare. With $500 million of committed capital funded by a sixth-generation family foundation with roots back to 1841, Bregal Partners brings experience, stability, and a long-term outlook to all of its investment activities. Bregal Partners is part of Bregal Investments, a global family of private equity and fund investment vehicles that has invested more than $9 billion since 2002. For more information on Bregal Partners, please visit www.bregalpartners.com.