NEW YORK--(BUSINESS WIRE)--Brand Velocity Group (“BVG”) today announced its acquisition of SCORE® Sports (“SCORE”), a leading designer, manufacturer, and seller of youth team sports uniforms and equipment. Terms of the transaction were not disclosed.
Based in Wilmington, California, SCORE was founded in 1975 and has been led by two sisters who saw a need for affordable, quality soccer uniforms. Nearly 50 years later, SCORE flourishes as a top multi-sport uniform and equipment company serving athletes of all ages across a range of sports including soccer, basketball, baseball/softball, flag football, and volleyball. SCORE combines its quality products with a high-touch customer experience, both of which are enabled by its state-of-the-art, vertically integrated, North America-based manufacturing operation.
BVG is well-positioned to accelerate the company’s growth within the resilient $8 billion youth sports market that is showing significant momentum in the post-pandemic environment. SCORE has already begun to leverage BVG’s specialty brand marketing agency relationships to develop and execute marketing plans. Further, SCORE is tapping into BVG’s vast sports and entertainment networks to create accretive partnerships with athletes, teams, leagues, celebrities, and other businesses.
To support SCORE, BVG has mobilized an elite group of investors, such as abrdn and Ocean Avenue Capital Partners, as well as like-minded individuals at each of the league, team owner, and athlete levels, including Carmelo Anthony, Nolan Arenado, Andre Drummond, Steve Hutchinson, Carli Lloyd, the Manning family (Peyton, Eli, and Cooper), Weston McKennie, DK Metcalf, Khris Middleton, Kelly Olynyk, Marcus Smart, Tim Tebow, Isaiah Thomas, and Klay Thompson.
“We’re extremely excited to join SCORE’s team of dedicated employees who every day amplify youth sports participation across the country,” said Austin Ramos, Founding Partner at BVG. “Our investors and strategic partners are all fully aligned with SCORE’s mission, and we are especially grateful for the support of our athlete investor group who will play a key role in further building SCORE’s visibility within their respective networks.”
BVG Partner Eli Manning added, “I attribute a lot of my success in life to the lessons and values learned playing youth sports. SCORE is my first acquisition as a private equity investor, and I can’t wait to share my passion for youth sports through a company that has been serving communities across the U.S. with excellence and pride for decades.”
In addition to benefitting from BVG’s marketing resources, SCORE will leverage the firm’s operating expertise and focus on enhancing company culture through its pioneering programs such as Share the Gains. Through Share the Gains, BVG has allocated 10 percent of its carried interest earnings to SCORE employees so that they all will participate like equity holders in the financial success of the company. Incremental to BVG’s carry contribution, over 20 percent of limited partners in the deal have already reserved a portion of their anticipated profits to Share the Gains.
“It was clear from our first meeting that BVG knows our industry and shares our company’s core values. They are undoubtedly the right partner to elevate our business to the next level,” said Kevin Mahoney, President and CEO of SCORE Sports. “Our mission has always been to create access to youth sports opportunities nationwide, all while providing unmatched service to our customers and community-based partners. BVG’s involvement will only enhance that mission.”
BVG Partner Drew Sheinman added, “We are at a moment in time where influencers across sports, business, entertainment, and culture are collaborating and pushing boundaries in groundbreaking ways. BVG is fortunate to be at the center of this movement, accelerating successful businesses by engaging with an investor community of athletes in creative and thoughtful ways. Our investment in SCORE establishes a standard that we hope to replicate in future transactions.”
Sixpoint Partners served as placement agent on the transaction with Sidley Austin serving as legal counsel to BVG. Kurt Salmon Capital Advisors served as financial advisor and Norton Rose Fulbright served as legal counsel to SCORE.
About Brand Velocity Group
Brand Velocity Group is an innovative investment firm focused on businesses that are well-positioned to benefit from its proven operational expertise, deep in-house marketing resources, and thoughtful approach toward enhancing company culture. BVG has strategic partnerships with specialty brand marketing agencies that develop and execute marketing plans across its investments. Portfolio companies also leverage BVG’s vast sports and entertainment networks to create accretive partnerships with athletes, teams, leagues, celebrities, and other businesses. In addition, BVG recognizes the worth of all portfolio company employees, each of whom is valued and critically important to the company’s continued, collective success. In recognition, the firm dedicates 10 percent of its total carried interest pool (i.e., its primary means of compensation as investment managers) in every investment to the employees. This is the Share the Gains program, which ensures that all employees of portfolio companies participate in the success of the firm’s united efforts. To learn more about BVG, its portfolio companies, and its innovative growth strategies, please visit www.brandvelocitygroup.com.
About SCORE® Sports
SCORE® Sports is a leading designer, manufacturer, and seller of youth team sports uniforms and equipment committed to improving the communities in which athletes live, work, and play. The company was founded in 1975 and has been led by two sisters—Jill Menzel and Rosa Cursage—who saw a need for affordable, quality uniforms. Nearly 50 years later, SCORE has grown to become a top multi-sport outfitter serving athletes of all ages and abilities across a range of sports including soccer, basketball, baseball/softball, flag football, and volleyball.
SCORE is a true pioneer in uniform sublimation and number one in speed to market thanks to its unique state-of-the-art, vertically integrated manufacturing operation—all based in North America—and model of selling directly to teams and leagues to keep pricing affordable. The company’s unwavering dedication to its teams and leagues is driven by firsthand knowledge of the positive impact that accessible youth sports can have on society. SCORE Sports: Disrupting the Game (https://scoresports.com/)