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Forums › General › Paintball talk :: Archives › NPS and PMI Combine Companies :: Archived

NPS and PMI Combine Companies
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CJLOVI
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PostPosted: Mon Nov 20, 2006 12:50 am    Post subject: NPS and PMI Combine Companies

FOR IMMEDIATE RELEASE
Contact: Alex Stockham
Rubenstein Associates
212.843.8297
NATIONAL PAINTBALL SUPPLY AND PURSUIT MARKETING TO COMBINE
Transaction To Create Major Paintball Company
NPS Scheduled To Sell Ecommerce Operations Post-Closing
NEW YORK – November 17, 2006 – The competition between National Paintball Supply, Inc.
(“NPS”) and Pursuit Marketing, Inc. (“PMI”) has turned to cooperation, as the two paintball
industry pioneers have announced a business combination.
NPS and PMI today announced they have closed separate transactions which have the
effect of combining their operations. Angelo, Gordon & Co., a $10 billion alternative asset
management firm, with advice from Sagent Advisors Inc., an investment banking firm in New
York, provided the equity capital to facilitate the transactions. The combined company will be a
full-service provider of the broadest range of paintball products and accessories with a foundation
built upon paintball’s premier brands. Terms of the transactions were not disclosed.
The history of the companies goes back decades. In the spring of 1982, Jeff Perlmutter
and David Freeman visited a “Survival Game” location located a couple of hours from Chicago.
They both had a great time and came up with a great idea. Their concept was to develop and sell
a line of high-quality products that could be used in this game that they enjoyed so much. Over
the next 24 years, the two entrepreneurs introduced such brands as R.P., Pure Energy, Piranha
and Evil and they grew their idea into PMI, which is now one of the best known and most
respected suppliers in the world of paintball.
While Freeman and Perlmutter were traveling the country to compete in various paintball
tournaments and growing the game from their Chicago headquarters, an 18-year-old from a small
town in South Jersey played his first game of paintball and was immediately hooked. Over the
next few years, Gino Postorivo set up a sales counter in the back of his father’s restaurant.
Through brands including 32 Degrees, Diablo, Halo and Empire, he grew this business into what
is now known as NPS, also among the best known and most respected suppliers in the world’s
most exciting extreme sport.
The combined company expects to continue to maintain a world-class paintball
manufacturing facility in Tampa as well as to enhance its North American distribution network to
reach over 90 percent of the North American population via next day ground service. The
company expects to continue to operate a division in the U.K., servicing the growing international
market.
Overseeing the combination of business operations is Chief Executive Officer, Ray
Dombrowski, currently a managing director at management firm Alvarez & Marsal, LLC, along
with Chief Financial Officer, Scott Thompson, also of Alvarez & Marsal. The senior executive
team reporting to Mr. Dombrowski will be Gino Postorivo, founder of NPS, who will be the
President of the new company; Dave Freeman, a co-founder of PMI, who will be Chief
Integration Officer; and George Eurick, Chief Operating Officer of PMI, who will be the Chief
Operating Officer.
Mr. Postorivo said, “I believe the consolidation of our two companies represents a major
step forward in the evolution of the paintball industry. We have always had great respect for PMI
and believe this combination will benefit our customers, employees, sponsored teams, and
vendors. With the strong financial backing of Angelo, Gordon & Co. and under Ray’s leadership,
we all are excited about launching new, state-of-the-art, products and providing unequalled
support for our customers.”
Mr. Freeman commented, “Joining our operations together will allow us to combine the
strengths of both companies and create the premier supplier of paintball equipment and
accessories for all of our customers. The confidence shown in our business by Angelo Gordon is
a direct reflection on the talents, dedication and passion of our dedicated employees over the
years.”
The combined company is expected to immediately begin considering alternatives for
exiting the ecommerce operation of NPS, which is centered around 888.PAINTBALL.com. Mr.
Dombrowski noted, “It is important that the new company eliminates all conflicts with our valued
customers in the traditional and sporting goods sectors. Exiting the retail ecommerce channel
will allow us to direct all of our efforts at leveraging the significant potential of the merger to
fruition for the benefit of our loyal customers. We look forward to the completion of the
integration process and the resulting strengths offered by this ‘One Stop Shop’.”
Brent Leffel, a Managing Director at Angelo Gordon commented, “We believe that
paintball is a dynamic, $1 billion segment of the extreme sports industry, which is poised for
growth after undergoing a period of rationalization and structural change. NPS and PMI have
pioneered the industry with strong brands and a diverse product portfolio. On a combined basis,
the company will be the largest in the industry and the only player offering a full complement of
products. We believe the combination of our extensive capital base and talents of senior
management will allow us to build the pre-eminent company in the paintball industry with a
commitment to service, quality, product innovation and understanding of the needs of a loyal
customer base and paintball players worldwide.”
For more information, please visit www.nationalpaintball.com or www.pminetwork.com.
About Angelo, Gordon & Co.
Angelo Gordon was founded in 1988 and currently has over 65 investment professionals
managing approximately $10 billion in capital across multiple investment strategies. The New
York-based long-term equity strategy group currently manages more than $800 million in
existing and committed capital.
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DarrylHadfield
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PostPosted: Mon Nov 20, 2006 7:22 am    Post subject: Re: NPS and PMI Combine Companies

Not so sure I like this.

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Spitlebug
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Joined: Jan 11, 2006
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PostPosted: Wed Nov 22, 2006 4:52 am    Post subject: Re: NPS and PMI Combine Companies

Fork...

*Enter Queen - Another one Bites the Dust*

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DarrylHadfield
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PostPosted: Wed Nov 22, 2006 11:47 am    Post subject: Re: NPS and PMI Combine Companies

I wonder what's going to happen with all those PMI vs. NPS sponsorships....

Then again, NPS pretty much bent over and offered it up to anyone who'd like a shot, when they stiffed their own teams for paint sponsorship for some of the larger events.

D.

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adriann222
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PostPosted: Wed Nov 22, 2006 12:04 pm    Post subject: Re: NPS and PMI Combine Companies

Ok, I'm not really all that fluent in businesseese so what does all that mean anyway?

I mean I read it as PMI is a manufacturer and NPS is a retailer.....so that just means that NPS is now only going to sell PMI....right?

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DarrylHadfield
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PostPosted: Wed Nov 22, 2006 1:00 pm    Post subject: Re: NPS and PMI Combine Companies

Nope.. PMI does a lot of retailing stuff, too - NPS was more of an aggregator; this means that one of the brands will disappear.

NPS had a MUCH larger distribution network; PMI had a much bigger bank account.

Quote::
Exiting the retail ecommerce channel

THAT is a big thing. The rest of the article that CJ posted seems to indicate that 888paintball.com will disappear, and that some new entity will arise, to encompass everything that 888paintball.com currently does, as well as all of PMI's stuff.

What I'm most interested to see is if this will mean a re-emergence of a partnership between Tippmann, BT, BLAST, and the new company..

Guess we'll see.

D.

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Spitlebug
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PostPosted: Wed Nov 22, 2006 5:10 pm    Post subject: Re: NPS and PMI Combine Companies

I highly doubt that Tipmann and BT will get together as BT was rather upset at thier bogarting the name Tipmann (even though that is a proper last name).

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DarrylHadfield
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PostPosted: Wed Nov 22, 2006 7:20 pm    Post subject: Re: NPS and PMI Combine Companies

Umm.. Bennie boy *WAS* of the Tippy clan.. He started his own, when whatshisnuts bought out Tippmann Pneumatics.

I forget the specifics, but I believe after that, NPS flat out refused to do business with one, and went with the other.. or something sorta like that.

I think it was that PMI snagged Tippmann, and NPS then refused to touch Tippy, and sold only BT stuff.. dunno.

It'll be interesting to see if the new company tries to mend any of those fences..

D.

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63VDub
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PostPosted: Wed Nov 22, 2006 10:28 pm    Post subject: Re: NPS and PMI Combine Companies

Just as long as I can still get decent RPS paint, it's all gravy, cuz I ain't buying none of their markers, except maybe the Mini.

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