Platinum Equity Acquires Schutt Sports

Thu Dec 16, 2010 6:45pm EST

* Reuters is not responsible for the content in this press release.

  LOS ANGELES, CA, Dec 16 (MARKET WIRE) -- 
Platinum Equity announced today that it has completed the acquisition of
substantially all the assets of Schutt Sports through a transaction
conducted under Section 363 of the U.S. Bankruptcy Code. The United
States Bankruptcy Court for the District of Delaware approved the
transaction on December 15, 2010.

    Schutt Sports is a leading domestic manufacturer of protective sports
equipment and aftermarket reconditioning services.

    "Schutt Sports is a great company with a strong brand, quality products
and enormous potential," said Jacob Kotzubei, partner, Platinum Equity,
who led the team pursuing the Schutt acquisition. "The business also has
a strong management team, talented employees and loyal customers. We are
excited to help the company achieve its full potential with the support
of Platinum Equity's financial resources and operations expertise."

    Robert Erb, Schutt Sports CEO since 2007, will continue to lead the
company under Platinum Equity's ownership. 

    "I am grateful for the tremendous loyalty we have received throughout
this process and am excited to emerge a stronger, healthier company
poised for long-term growth and profitability," said Mr. Erb. "I am
especially proud of the continued hard work and support of our
outstanding employees, dealers and suppliers. Their extraordinary resolve
and commitment to serving our customers is a primary reason we are now
positioned for long-term success."

    Mr. Kotzubei said that Platinum Equity's operations team is now acting on
a plan to assist Schutt Sports following the change in ownership.

    "Schutt Sports has done an exceptional job maintaining focus and
continuing to serve its customers throughout this process," said Mr.
Kotzubei. "We are now deploying additional operations resources to
support their efforts."

    About Platinum Equity
 Platinum Equity (www.platinumequity.com) is a
global M&A&O(R) firm specializing in the merger, acquisition and
operation of companies that provide services and solutions to customers
in a broad range of business markets, including information technology,
telecommunications, logistics, metals services, manufacturing and
distribution. Since its founding in 1995 by Tom Gores, Platinum Equity
has completed more 100 acquisitions.

    About Schutt Sports
 Schutt Sports is a domestic manufacturer and the
world's leading maker of football helmets and faceguards. Three out of
four professional football players take the field wearing Schutt(R) gear.
The ION 4D, AiR XP, and DNA line of helmets are the world's only football
helmets to feature TPU Cushioning -- the same material used by the US
military for helmets for fighter pilots and paratroopers. Schutt
faceguards are the best in the world, both in form and in function.
Schutt is also the manufacturer and supplier of bases to Major League
Baseball and Minor League Baseball, as well as the official batter's
helmet supplier to the Team USA National Softball Team. Schutt gear is
designed for maximum performance based on standards dictated by the most
important person in our world -- the player.

    

Contacts:
Dan Whelan
Platinum Equity
(310) 282-9202
dwhelan@platinumequity.com

Glenn Beckmann
Schutt Sports
(217) 324-2712 ext.2147
gbeckmann@schutt-sports.com 

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