March 28, 2024
Update!
Augusta Sportswear Brands and Founder Sport Group Launch New Corporate Identity:
New leadership team draws on strengths of both businesses
Charlotte, NC – Augusta Sportswear Brands (“ASB”) and Founder Sport Group (“FSG”) today announced the combined company’s new corporate identity, Momentec Brands, and tagline “Outfitting Moments that Matter.”
ASB and FSG were recently acquired by investment firm Platinum Equity.
Momentec Brands emerges as a leading supplier of team uniforms, off-field performance wear, and fan apparel tailored for the youth and recreational sports markets. Momentec Brands will continue its unwavering commitment to provide its customers superior service by maximizing the strength of the two organizations in customer care, distribution and the critical day-to-day “count on us” execution. Our core objective is to become your easiest partner to buy from, breaking down complexity and making designing and buying even custom uniforms a simple and fun experience
FSG CEO John Anton will serve as CEO of Momentec Brands and ASB CEO David Elliot will serve as Vice Chairman of the company, both positions effective April 1, 2024.
“We are excited to announce the rebranding of the combined company as Momentec Brands. Momentec represents a bold step forward in our journey towards redefining the uniform and sportswear industry while delivering exceptional service for our customers,” said Anton. “Our mission is to fuel our customers and partners with innovative solutions, delivering unparalleled speed, ease and value to outfit the moments that matter.”
The name Momentec pays homage to the rich traditions and legacies of both ASB and FSG with a nod to the momentum these companies created in the marketplace over the years. The name also embraces a spirit of innovation as the company strives to inject cutting edge technology into all aspects of the design and ordering process to simplify the customer experience.
“I am grateful to have served as CEO of ASB for the past eight years,” said Elliott. “As I transition into the role of Vice Chairman, I am filled with gratitude for the remarkable journey we’ve undertaken at ASB. It has been an honor to serve as CEO, and I am excited to continue contributing to Momentec’s success in this new capacity. I look forward to continuing to support John and the executive leadership team as Vice Chairman, building on the strong Momentec Brands foundation.”
Momentec Brands also announced several other leadership changes that will also take effect April 1, 2024:
ASB’s current Chief Commercial Officer, Derek Ernst, will be promoted to Momentec’s Chief Commercial Officer (CCO). Ernst will preside over Momentec’s strategic accounts, on-field, off-field, league, and digital sales teams, as well as both marketing and product development departments, ensuring cohesive direction and alignment across all facets of the sales chain.
Dave Binley, FSG’s Chief Operating Officer (COO), will serve as Momentec’s COO, steering the company’s manufacturing, distribution, supply chain and operations.
Julie Parker, FSG’s Chief Human Resources Officer (CHRO), will be promoted to the position of CHRO. In her expanded role, Julie will lead Momentec’s strategic HR initiatives, aligning them with our organizational goals and values.
ASB executive leadership member, Marty Bruce, is promoted to Chief Information Officer (CIO), in which he will lead Momentec’s application development, technology infrastructure and customer delivery systems.
Patrick O’Neill, FSG’s Senior Vice President Strategy and Key Accounts is promoted to Chief Business Development Officer overseeing Momentec’s push into new markets and lead Momentec’s strategic integration initiatives.
About Momentec Brands:
Momentec Brands is a leading designer, manufacturer, and marketer of customizable high-performance uniforms, training apparel, and fanwear for teams, coaches, athletes, and fans. Its brands include Badger Sport, Alleson Athletic, Garb Athletic, Prosphere, Augusta Sportswear, Holloway, Russell Athletic, Pacific Headwear, and High Five (collectively “Momentec Brands”). Momentec focuses on fueling performance, and outfit and the moments that matter. Momentec Brands will continue to operate Augustasportswear.com and foundersport.com thru 2024 into 2025 when one combined website experience at momentecbrands.com will go live in Q1 2025.
David Goerke, VP, Marketing and Communications Momentec Brands 425 Park 20 West Grovetown, GA 30813 dgoerke@augustasportswear.com
February 20, 2024
Derek Ernst, CCO of ASB, announces a new lower free freight threshold for US customers of Augusta Sportswear Brands and Founder Sport Group.
January 25, 2024
ASB X FSG Video Update
Derek Ernst, CCO of ASB, gives an update about the merger with Founder Sport Group and reinforces our commitment to ALL customers.
January 09, 2024
ASB x FSG Merger News
FOR IMMEDIATE RELEASE
PLATINUM EQUITY ACQUIRES AUGUSTA SPORTSWEAR BRANDS AND FOUNDER SPORT GROUP
Youth sports performance apparel businesses joining forces to create expanded portfolio of brand, product and service offerings.
LOS ANGELES (January 9, 2024) – Platinum Equity announced today the acquisitions of Augusta Sportwear Brands (“ASB”) and Founder Sport Group (“FSG”). Both companies are suppliers of team uniforms, and off-field performance wear and fan apparel for the youth and recreational sports markets.
Financial terms of the private transactions were not disclosed.
“Youth sports play an important role in society and participation has been shown to provide important psychological and social health benefits,” said Platinum Equity Co-President Louis Samson. “The core market for youth sports apparel and accessories has grown steadily over the past decade, but the ecosystem is highly fragmented and, in many ways, inefficient. We saw the potential to combine two established companies very rapidly and orchestrate a transaction that we believe leverages our unique integration and operational capabilities with the goal of improving those industry dynamics and ultimately bringing to life a better customer experience.
“This complex transaction is another example of how Platinum’s creativity and out-of-the-box approach to M&A helps us find opportunities to create value even in choppy or dislocated markets,” added Samson.
Apparel suppliers like ASB and FSG primarily sell to regional and local team dealers and decorators who work directly with youth sports leagues, schools and corporations.
ASB’s current portfolio comprises a comprehensive line of complementary and versatile brands, including: Augusta Sportswear, Holloway, High Five, Pacific Headwear, Russell Athletic and CCM. FSG goes to market with a diverse portfolio of brands including: Under Armour, Badger, Alleson, C2, ProSphere, Garb Athletics and Flash.
The integrated portfolio of brands will allow the combined company to serve the full range of on-field and off-field or fanwear needs of youth sports teams, clubs, schools and leagues.
“We believe bringing ASB and FSG together will create meaningful benefits for the company’s customers, end consumers, and the youth sports apparel industry as a whole,” said Platinum Equity Managing Director Jason Price. “Joining forces will create an expanded portfolio of brand and product offerings across the full sports and lifestyle apparel industry. It will make more brands available to more consumers in more communities.”
Both companies have made significant investments in sublimation printing, an ink-on-fabric technology that provides better image quality and customization, with quick turnarounds to meet customer needs.
“We believe that over time, integrating the two companies has the potential to further reduce customer turnaround times, create a more efficient supply chain, and accelerate the impact of sublimation and other technologies throughout the ecosystem,” added Price. “We have a lot of experience with apparel businesses and are excited about the opportunities ahead.”
In 2020, Platinum Equity acquired Mad Engine, a premier omnichannel provider of licensed, branded and private-label apparel and accessories. In 2022, the firm acquired international apparel company Hop Lun. Jostens, a trusted partner in the academic and achievement channel serving the K-12 educational, college and sports segments, is also a current Platinum Equity portfolio company.
Business is expected to continue as usual for both companies as they work together with Platinum Equity on transition and integration plans.
Latham & Watkins provided legal counsel to Platinum Equity on the acquisitions of ASB and FSG.
About Platinum Equity
Founded in 1995 by Tom Gores, Platinum Equity is a global investment firm with approximately $47 billion of assets under management and a portfolio of approximately 50 operating companies that serve customers around the world. Platinum Equity specializes in mergers, acquisitions and operations – a trademarked strategy it calls M&A&O® – acquiring and operating companies in a broad range of business markets, including manufacturing, distribution, transportation and logistics, equipment rental, metals services, media and entertainment, technology, telecommunications and other industries. Over the past 28 years Platinum Equity has completed more than 450 acquisitions.
About Augusta Sportswear Brands
Augusta Sportswear Brands is a leading designer, manufacturer, and marketer of high-performance uniforms, training apparel, and fanwear for teams, coaches, athletes, and fans. Made up of five brands, Augusta Sportswear, Holloway, Russell Athletic, Pacific Headwear, and High Five, all driven by a simple mission to inspire a physically fit lifestyle, creating more healthy families and connected communities everywhere they operate.
About Founder Sport Group
Founder Sport Group (www.foundersport.com) features category-leading stock and customizable sportswear brands that include Badger Sport, Alleson Athletic, Garb Athletic, and Prosphere. From the field to the stands, and at every practice along the way, Founder Sport Group