NFL Helmet Maker Riddell Gets $400 Million from BC Partners
- Deal funded payout to Riddell’s private equity owner Fenway
- Earlier sales process struggled to meet Fenway’s price target
Photographer: Brian Cleary/Getty Images
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The credit arm of BC Partners agreed to provide $400 million to football helmet maker Riddell, in a deal that will give shareholders including private equity firm Fenway Partners a long-awaited payout, according to a statement seen by Bloomberg News.
Over $300 million of the investment proceeds were used to return capital to shareholders while a smaller portion was used to pay off existing debt, according to a person familiar with the deal, who asked not to be identified because discussions are private.