Photo credit: NHL.com
Hockey equipment brand used by NHL stars up for sale.
A hockey equipment brand that has serious star power in the NHL is up for grabs. CCM is used by players like Auston Matthews, Connor McDavid, and Sidney Crosby.
According to a report by the Globe and Mail, Hockey gear maker CCM up for sale as its owner looks to exit the field. CCM, owned by private equity firm Birch Hill Equity Partners, is expected sell for somewhere around $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
Birch Hill bought CCM from Adidas AG in 2017, and it was losing money at the time. The company has since taken a drastic turn.
"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."
CCM is a well-known name to anyone who plays, has played, and/or watches the sport on a regular basis. It's most profitable product is hockey sticks, although it provides many pieces to many NHL players.
"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
The report states CCM owners decided to put it on the auction block after receiving several unsolicited offers.
Source: Globe and Mail
Hockey gear maker CCM up for sale as private equity owner looks for an exit
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April 19 | 132 answers Hockey equipment brand used by NHL stars up for sale. With CCM up for sale, do you, or have you used CCM hockey equipment? | ||
| Yes | 106 | 80.3 % |
| No | 26 | 19.7 % |
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