Performance Sports adds Sagard Capital CEO to BoD

31 Mar '16
2 min read

Performance Sports Group has added Daniel Friedberg, CEO at Sagard Capital Partners, currently its largest shareholder, to the company's board of directors.

Sagard Capital Partners together with its subsidiaries has beneficial ownership of approximately 15 per cent of the company's issued and outstanding common shares.

Performance Sports is a developer and manufacturer of ice hockey, roller hockey, lacrosse, baseball and softball sports equipment, as well as related apparel and soccer apparel.

The company claims it is the global leader in hockey with the strongest and most recognised brand, and holds the no. 1 North American position in baseball and softball.

Its products are marketed under the Bauer, Mission, Maverik, Cascade, Inaria, Combat and Easton brand names and are distributed by sales representatives and independent distributors throughout the world.

Sagard Capital Partners is principally engaged in the business of investing in securities, with a strategy to acquire significant minority or control positions in publicly traded small and mid-sized companies.

It offers a unique and highly differentiated value proposition to companies looking for supportive, long-term shareholders and is an evergreen fund with an indefinite holding period for its investments.

Sagard Capital is purpose-built to be an independent, flexible, supportive partner to management teams focused on building sustainable, leading businesses and generating long-term shareholder value.

"Dan has had significant business successes throughout his career, and we are very pleased to have him join our board," said Bernard McDonell, chairman of Performance Sports Group.

"Both Dan and Sagard Capital have substantial strategic, operating and financial expertise and a history of working in support of the long-term goals of the companies in which they invest," he added.

"Our investment in Performance Sports Group is the result of substantial time and resources dedicated to identifying and evaluating the potential long-term value,” Daniel Friedberg said.

“Sagard Capital believes in Performance Sports Group's leading innovation, world-class brands and prospects for improved profitability," Friedberg too added.

"I look forward to working with the board and management with a common objective of creating value for all shareholders," Friedberg informed. (AR)

Fibre2Fashion News Desk – India

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