Nautic Partners, LLC and Management Acquire Prince Sports, Inc.
August 13, 2007
Bordentown, NJ – August 13, 2007 – Four years ago the Prince management team and an investment partner acquired Prince Sports, Inc. (the parent of the Prince and Ektelon racquet sports brands) from the Benetton Group. Since then Prince Sports has seen substantial growth in all areas of its business. Late last year, the Company began looking for a new investment partner to support its growth and development plans.
George Napier, CEO of Prince, commented, “From the introduction of O3 Racquet Technology in 2005 to the recent launch of Aerotech Performance Apparel in July, our team has been committed to delivering game-changing performance racquet sports equipment for players and coaches worldwide. Along with the success we’ve had in the last few years comes the obligation of stepping things up and becoming an even better company. That generally means taking on new opportunities and it’s the scope of those opportunities which spurred us to look for additional investment. In the last few months, I have spent countless hours with my team and the Nautic senior leadership team, and am genuinely excited to be joining them. They have the expertise and financial strength to help us tap the major growth opportunities facing us and I am confident they will be great partners for years to come.”