Mason Wells Acquires EastPoint Sports Ltd., LLC
For more information, contact: Christopher Pummill, Director, 414-727-6428 or Gregory Myers, Senior Managing Director, 414-727-6404
MILWAUKEE (September 4, 2018) – Mason Wells announced today that it has closed the acquisition of EastPoint Sports Ltd., LLC (“EastPoint” or the “Company”). EastPoint, a leading supplier of indoor and outdoor recreational sporting goods, was founded in 2009 by Mike Nally, a long time industry veteran. The Company will be owned by Mason Wells, the Nally family, senior management, board members, and Bounds Equity Partners. Financial terms of the transaction were not disclosed.
EastPoint develops, imports, and markets recreational sporting goods sold through retail and e-commerce channels in North America. Product categories include tailgate games, lawn games, sport games, indoor game accessories, and table games. Specific products include bean bag toss, table tennis, volleyball and badminton nets, and indoor basketball hoops. EastPoint markets its products under owned and licensed brands, including Go! Gater, Majik, Rec-Tek, Classic Sport, Narwhal, NHL, HEAD, and PENN. The Company is headquartered in Succasunna, New Jersey, has an office in Shanghai, China, and occupies third-party warehouses in California and Ontario, Canada.
“We are very excited about our new partnership with Mason Wells,” said Mike Nally, President and Chief Executive Officer of EastPoint. “Their experience successfully building consumer products companies will provide EastPoint with the resources necessary to support our long-term growth initiatives.”
“We are very impressed with EastPoint’s strong management team and employees, unique sourcing infrastructure, and innovative product development capabilities,” said Chris Pummill, Director at Mason Wells. “These key factors, along with strong customer and vendor relationships, have enabled the business to achieve remarkable growth during the last decade. We are pleased that Mike Nally will continue to lead the business. We also look forward to supporting the team as they expand EastPoint’s retail and e-commerce relationships and develop new products.”
Debt financing for the transaction was provided by PNC Bank, N.A. and Patriot Capital. Godfrey & Kahn served as legal counsel to Mason Wells.
About EastPoint Sports
Based in Succasunna, New Jersey, EastPoint is a developer, importer, and marketer of indoor and outdoor recreational sporting goods. With an office in Shanghai, China and 3PL facilities in California and Ontario, Canada, the Company sells through retail and e-commerce channels. Owned and licensed brands include Go! Gater, Majik, Rec-Tek, Classic Sport, Narwhal, NHL, HEAD, and PENN. For more information, please visit the EastPoint website at www.eastpointsports.com.
About Mason Wells
Mason Wells is a leading Midwest-based private equity firm with approximately $1.0 billion in assets under management across its current private equity funds. Mason Wells is currently investing out of Mason Wells Buyout Fund IV, a $615 million fund. Since Mason Wells was formed in 1998, its buyout funds have invested in four specific industry sectors: Consumer Packaged Goods, Outsourced Business Services, Engineered Products & Services, and Packaging Materials & Converting. For more information related to Mason Wells, please visit the firm’s website at www.masonwells.com.