Iconic Canadian hockey gear designer and manufacturer CCM is up for sale by its private equity owner, Birch Hill.
Montreal-based CCM is linked to professional hockey leagues like the NHL and AHL, the Canadian junior league the OHL, Toronto Maple Leafs star Auston Matthews, Pittsburgh Penguins captain Sidney Crosby, and recently, Montreal content marketing agency, Frank.
Birch Hill, a Toronto-based Canadian mid-market private equity firm which currently has $5 billion in capital under management, purchased CCM from Adidas AG in 2017 for approximately USD $110 billion, as the German manufacturer turned its attention elsewhere, particularly to footwear and leisurewear.
At the time, Birch Hill said its “investment thesis was based on CCM operating in a stable industry with significant brand awareness and consumer loyalty,” with the equity firm believing the hockey manufacturer had a clear path to a better margin profile and had the potential to grow its market share.
In 2020, CCM launched a global brand platform, “All Out” with support from LG2 and Carat. The associated campaign was an effort to stand out in a category where it competes with the likes of Bauer, which boasts a strong minority share of gear in the NHL, Reebok, Easton and Warrior, and the Canadian Tire-owned Sherwood, which last summer snagged an exclusive endorsement with Chicago Blackhawks superstar Connor Bedard for its Rekker sticks and gloves.
The Globe & Mail reported on Monday that Birch Hill recently hired U.S. investment bank Robert W. Baird & Co to run the potential sale, after receiving several unsolicited offers for the gear maker from private equity funds, as per sources.
CCM has approximately 500 employees.
Last fall, CCM Hockey, announced it has been named as a full hockey equipment supplier and official partner of the new Professional Women’s Hockey League (PWHL). Later in the year, it launched CCM Hockey House in Boston, an immersive pop-up retail hockey experience built by Mosaic North America, dedicated to the sport’s culture, the latest in product technology and community engagement.
