Transom Capital Group-Bravo Sports Corp. has agreed to purchase helmet manufacturer Nutcase Inc. to grow its lifestyle division. Terms of the deal were not disclosed.
Based in Portland, Oregon, Nutcase makes helmets for skating, biking, riding motorcycles, water and snow sports. The company was founded in 2006 by Michael Marrow, a former creative director at Nike Inc. (NYSE: NKE), with the goal of making helmets with a creative and stylish design to inspire people to wear them more often. Nutcase will continue to operate out its current Portland office.
Bravo Sports, headquartered in Santa Fe Springs, California, manufactures recreational and sporting goods to retailers. The buyer also has the license to manufacturer brands such as Walt Disney Co. (NYSE: DIS), Marvel andNickelodeon. The company has offices and warehouses in Italy, China and Thailand. The deal for Nutcase’s color helmets will expand the buyer’s lifestyle business that includes Airzone trampolines and John Deere canopies.
Transom Capital Group is a lower-middle market private equity firm that backed Bravo Sports in June 2015. Based in Los Angeles, the firm looks to investment in companies with up to $20 million in Ebitda. The PE firm has previously invested in Blue Microphones, Good Living Labs LLC and the Midwest Center for Stress and Anxiety.
Lifestyle brands and helmet-related deals have seen a steady interest from private equity firms. Other deals include: Investcorp’s purchase of helmet maker Poc Sweden AB from Black Diamond Inc. (NASDAQ: BDE) for $65 million in cash; Bruckmann Rosser Sherrill & Co.’s acquisition of Simpson Performance Products Inc., a maker of race-care related products like helmets and neck restraints; and J.W. Childs Associates LP’s deal acquiring motorcycle apparel provider Cycle Gear.