| January 10, 2018
Northbrook, IL – Maurice Sporting Goods, LLC, one of North America’s largest distributors of outdoor sporting goods, has announced that the Company is now fully capitalized following its acquisition by Middleton Partners.
Maurice is primed to reclaim its position as the dominant sporting goods distributor in the nation and is excited for the opportunity to invest its resources into expanding and growing its business this year.
“We are very eager to start 2018 with our financial challenges resolved and a renewed focus on our customer and vendor relationships. Maurice has always been a family business, and we’re pleased that our new financial strength provided by Middleton Partners, allows us to work toward a better future,” said Jory Katlin, Maurice President and Chief Executive Officer. “We are extremely grateful to our customers and vendors, who worked with us during the financial restructuring and look forward to having fruitful and long-term relationships.”
Maurice’s sales team is working diligently with its customers to ensure that it exceeds the top-notch service they have come to expect for nearly a century, including being fully stocked and ready for the Spring and Summer seasons. Maurice’s inventory also continues to arrive and be shipped daily and on time.
“We’re looking forward to working with the entire Maurice team who have shown remarkable dedication and professionalism,” said Keith Jaffee, Middleton Partners Senior Partner. “We are already seeing positive changes in both the business output and the team’s excitement and are looking forward to our new relationship with them.”
Middleton Partners purchased a majority stake in Maurice through a court auction process in November 2017. The transaction significantly strengthened Maurice’s liquidity and the business is no longer operating under court protection.
Maurice Sporting Goods is a privately-owned wholesaler of sporting goods products in the fishing, hunting, outdoor recreation, marine and outdoor gift categories, serving mass retailers and independent dealers throughout the United States and other international markets. Maurice also operates a portfolio of sourcing and manufacturing companies containing recognizable brands such as Shoreline Marine, South Bend Fishing Tackle, Rivers Edge Outdoor themed gift products, Danielson and Matzuo fishing products.
About Middleton Partners
Middleton Partners is an active investor of private equity in real estate and operating company opportunities offering returns that exceed industry or sector comparables. In the past five years, the firm has invested in excess of $250 million, focusing on a variety of property types in markets throughout the US as well as operating companies in the consumer products industry as well as manufacturers whose principal customers are national or strong regional & e-commerce retailers. Combing their talents in capital formation, venture management, asset management and revenue growth, Middleton’s principals typically fund between $10 million and $50 million of equity from a capital base that includes the firm’s principals and a network of family office and high net worth investors.
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