Shock Doctor Sports and McDavid Inc. jointly announced today that they have agreed to merge their companies. The combination will bring together two leading sports protection and performance companies with complementary product lines and a shared history of innovation and commitment to athletes.
"Our mission is to be the number one choice for athletes around the world who demand performance and protection," said Tony Armand, president and CEO of Shock Doctor Sports, the company that includes leading brands Shock Doctor, Cutters, XO Sports. "Combining Shock Doctor Sports and McDavid will ensure that athletes around the world are protected and benefiting from our performance products."
"We have been privately held for more than 30 years and over that time McDavid has had many opportunities to partner, merge and even sell," said Bob McDavid, president and CEO of McDavid Inc. "This strategic combination comes at the opportune time for our company and the athletes we serve. Merging our respective areas of expertise will help fuel our engagement with athletes, while enhancing our commitment to meaningful innovation and merchandising."
The transaction is subject to regulatory approvals and is expected to close during the second quarter of 2015. Both companies will maintain business as usual through a transition period. Mr. Armand will be the CEO of the combined businesses and Mr. McDavid will be Chairman of the Board. Shock Doctor was advised by William Blair & Co. and Dechert LLP. McDavid was advised by Imperial Capital, LLC and Skadden, Arps, Slate, Meagher & Flom LLP. Financing will be provided by Ares Capital Corp.
Shock Doctor is a global leader in mouthguards, along with core protective equipment and apparel, performance sports therapy, sports insoles and performance compression and recovery -- designed to protect and enhance the performance of athletes across a wide range of sports including football, basketball, hockey, baseball, lacrosse, MMA, fitness and more. Shock Doctor is a portfolio company of Bregal Partners, a private equity investment firm. Additional information about Shock Doctor is available at www.shockdoctor.com.
McDavid manufactures, designs and markets sports medicine, sports protection and performance apparel for active people and athletes. Since its founding in 1980, McDavid products have remained at the top of the recommended lists of pro athletes, sports medicine professionals and athletic trainers. From research-backed ankle braces to protective apparel with HEX™ technology, McDavid products address the broad range and the specific needs of professional, collegiate and all athletes across a variety of sports. The Company is headquartered in Chicago with subsidiaries in Japan and Europe. Additional information about McDavid is available at www.mcdavidusa.com.