Mason Wells announced that it has closed the acquisition of EastPoint Sports Ltd., LLC. EastPoint, a supplier of indoor and outdoor recreational sporting goods, was founded in 2009 by Mike Nally, a long-time industry veteran. The Company will be owned by Mason Wells, the Nally family, senior management, board members, and Bounds Equity Partners. Financial terms of the transaction were not disclosed.
EastPoint develops, imports, and markets recreational sporting goods sold through retail and e-commerce channels in North America. Product categories include tailgate games, lawn games, sport games, indoor game accessories, and table games. Specific products include bean bag toss, table tennis, volleyball and badminton nets, and indoor basketball hoops. EastPoint markets its products under owned and licensed brands, including Go! Gater, Majik, Rec-Tek, Classic Sport, Narwhal, NHL, HEAD, and PENN. The Company is headquartered in Succasunna, New Jersey, has an office in Shanghai, China, and occupies third-party warehouses in California and Ontario, Canada.
“We are very excited about our new partnership with Mason Wells,” said Mike Nally, President and CEO of EastPoint. “Their experience successfully building consumer products companies will provide EastPoint with the resources necessary to support our long-term growth initiatives.”
“We are very impressed with EastPoint’s strong management team and employees, unique sourcing infrastructure, and innovative product development capabilities,” said Chris Pummill, Director at Mason Wells. “These key factors, along with strong customer and vendor relationships, have enabled the business to achieve remarkable growth during the last decade. We are pleased that Mike Nally will continue to lead the business. We also look forward to supporting the team as they expand EastPoint’s retail and e-commerce relationships and develop new products.”
Debt financing for the transaction was provided by PNC Business Credit and Patriot Capital. Godfrey & Kahn served as legal counsel to Mason Wells.