KPS Capital Partners, LP (“KPS”) has revealed its plans to acquire Sport Group TopCo GmbH through a newly established affiliate. The acquisition encompasses leading brands in the artificial surface industry such as AstroTurf, Polytan, Rekortan, and Laykold, previously under the ownership of Equistone Partners Europe. The transaction, anticipated to finalize in the second quarter of 2024, awaits the fulfillment of standard regulatory approvals and closing conditions.
Sport Group stands at the forefront of designing, manufacturing, and installing artificial surfaces for sports flooring, leisure, landscaping, and industrial uses across over 70 countries. With its headquarters in Burgheim, Germany, the company’s distinguished brand lineup features industry pioneers and innovators such as AstroTurf, Polytan, and Laykold, catering to an elite clientele in professional and collegiate sports. Sport Group’s contributions to significant global sporting venues, including historical projects like the Astrodome and numerous Olympic Games, underscore its market leadership.
The company is also at the vanguard of eco-friendly practices, introducing the first carbon-neutral and carbon zero artificial turfs and establishing the only turf recycling facility capable of processing EPDM rubber. With a workforce exceeding 1,900, Sport Group operates nine manufacturing sites and 31 distribution centers worldwide.
Raquel Vargas Palmer, Managing Partner at KPS, expressed enthusiasm about the acquisition, highlighting Sport Group’s unique position as a fully integrated provider of artificial turf and surfaces. KPS aims to enhance the company’s value creation through strategic support and investment, capitalizing on its strong brand presence, commitment to quality, and leading research and development efforts.
Christoph von Nitzsch, CEO of Sport Group, welcomed the partnership with KPS, anticipating a new era of growth and innovation. He emphasized the synergy between KPS’s manufacturing prowess and Sport Group’s dedication to excellence and innovation, setting the stage for expanded operations and market leadership under the new ownership.
KPS’s legal proceedings were managed by Kirkland & Ellis LLP, while Houlihan Lokey and William Blair acted as financial advisors to Sport Group, with Latham & Watkins LLP providing legal counsel to the company’s shareholders.
