L2 Capital Acquires Hardwood Sports Flooring Manufacturer Robbins Sports Surfaces

L2 Capital announced that it has completed the acquisition of Robbins Sports Surfaces, Inc. (“Robbins” or the “Company”) (www.Robbinsfloor.com/), a vertically integrated, market leading manufacturer of hardwood basketball floors, whose customers include elementary, middle, and high schools as well as colleges and NCAA and NBA teams. The Company also manufactures hardwood floors for dance and other sports and is the exclusive North American distributor of Pulastic brand synthetic floors. Terms of the transaction were not disclosed.

Robbins is a multi-generational family business. Founded in 1894, the Company is headquartered in Cincinnati with manufacturing and milling operations in Wisconsin and Michigan. Robbins has built its strong reputation and achieved its market leadership position by consistently manufacturing safe, high-quality floors and maintaining consistent supply for its dealers and customers for decades. Robbins has earned its reputation as the innovation leader in the hardwood sports flooring market by continuously refining and improving its floor and subfloor solutions, with a focus on athletes’ safety. The Company is the only vertically integrated participant in this space, as it proprietarily sources most of its logs, and then mills and manufactures the wood into sports and dance flooring. Robbins primarily sells its floors through a long-tenured and well-respected exclusive dealer network but also sells its portable floors directly to NCAA and NBA customers – the majority of NBA teams play and practice on Robbins floors.

Bob Levine, Managing Partner of L2 Capital, said, “L2 Capital has a robust history of partnering with family-run, market leaders and helping these companies scale in their respective niches, as well as grow in adjacencies by deploying our proprietary strategic planning and execution framework. We are excited to partner with Robbins and look forward to providing athletes and enthusiasts of all levels with the safest, highest quality surfaces.”

Todd Braun, President and CEO of Robbins, noted, “I am elated to partner with L2 Capital to continue Robbins’ growth; I believe that together we have an excellent opportunity to better serve existing and new customers in several flooring and activity related markets. We viewed L2’s operational approach, core values and financial results with companies in similar situations as significant differentiators.”

PNC Business Credit and Merion Investment Partners provided debt financing for this transaction; Merion co-invested. Robbins was advised by SDR Ventures.

About L2 Capital Partners

L2 Capital Partners (www.L2Capital.net) is a boutique lower middle market private equity firm that specializes in making controlling investments in a diverse range of family and founder-built companies with demonstrated market leadership and unlocked potential for growth. L2’s impressive track record over the last decade includes top quartile returns for its portfolio of business services and consumer products companies with enterprise values up to $100 million. L2 Capital adds value by partnering closely with company leadership to meet their strategic and financial goals by providing intimate operational support including a breakthrough growth framework in addition to access to resources and technology gained over 40 years of principal investing experience.

Source: L2 Capital Partners, LP