GARED Holdings Transfers Ownership to Management Team in Buy-Out Acquisition
11 January 2017
GARED Holdings, LLC (GARED) a leading manufacturer and marketer of athletic equipment and custom design solutions to schools and other institutions, today announced a management- led buyout of the Company, led by Kevin Needler, CEO, in partnership with Gen Cap America, Inc. (GCA), a private investment firm headquartered in Nashville, TN. GCA and the management team have made a substantial investment in the Company which will allow it to continue the aggressive growth of the past few years and to deliver high quality products and services to its customers.
In 1997, Dimitrios Koukoulomatis and John Duggins acquired Gared Sports, a Missouri company and Performance Sports Systems (PSS), an Indiana company. In 1998, they acquired the assets of Medart, Inc., a Mississippi company, which included a book of orders and few select Dealers. In 2002 they consolidated all their businesses in Noblesville, IN and named the new company Gared Holdings, LLC. Since then the company, operating under Gared Sports (GARED), Performance Sports Systems and Gared International, has managed to expand its geographic footprint, broaden the size and scope of its offerings and generated industry leading organic growth.
Kevin Needler, CEO, said, "The company employs energetic and dedicated people led by an experienced management team and we have an excellent strategy to continue to develop and strengthen our existing and future channels of distribution and customer base. The market opportunities available to the company are significant and we look forward to taking full advantage of them."
Dimitrios Koukoulomatis, said, "We couldn't have been happier for Kevin, Don, Exec. VP of Sales for PSS; Laura, Exec. VP of Sales & Marketing for GARED, and Mary, CFO. This transaction will allow them to continue to manage the company and execute its ambitious growth plans."