SC&H Capital, an investment banking and advisory firm focused on middle market and growth companies, served as the exclusive financial advisor for the acquirer of Baltimore-based LaxWorld; a chain of 11 lacrosse equipment and apparel retail stores, a wholesale operation selling to collegiate, high school and club teams, and an Internet sales operation.
Frank Barbarino and Michael Stewart, two executives with deep expertise in the specialty retail industry, and Bobby Martino, the Vice President at LaxWorld, are among the new owners of the chain. They plan to add stores in its existing markets of Maryland, Virginia, Colorado and Georgia, as well expand throughout the U.S. In addition, the new owners plan on expanding the brand’s wholesale business.
“As the popularity of lacrosse continues to grow on a national scale, we saw an exceptional opportunity to capitalize on this trend by bringing this unique retailer to new markets,” said Barbarino. “SC&H Capital was an integral player in making this deal a reality – being highly trusted advisors who helped guide us through every step of this significant deal.”
“We were very excited to advise a company that services a growing segment of the sports equipment industry,” said Gregory Hogan, Senior Vice President at SC&H Capital. “LaxWorld’s growth potential is outstanding and the new owners have the opportunity to make this unique brand a truly national player.”
Financial terms of the acquisition were not disclosed.