CCM Hockey keeps raking in investment from private-equity players, and this time it’s a firm led by former NHL players, including former Lightning star Martin St. Louis.
Connecticut-based Seven7—founded by St. Louis and fellow former NHL player Jeff Hamilton—will take a minority stake in CCM via a co-investment it’s making alongside existing PE backer Altor Equity Partners, according to a Tuesday statement.
St. Louis, who is currently the head coach for the Canadiens, played 17 seasons in the NHL, including 13 with the Lightning. He amassed many accolades, including winning the Stanley Cup in 2003–04, as well as bringing home two Art Ross Trophies (for the player who leads the league in scoring points each season) and one Hart Memorial Trophy (the NHL’s version of an MVP award). Hamilton played five seasons in the NHL, with the Islanders, Blackhawks, Hurricanes, and Maple Leafs.
The size of the stake and the price paid were not disclosed. Representatives for Seven7, CCM, and Altor did not immediately respond to requests for comment Wednesday.
The new investment “signals a bold new chapter for CCM” that will include “international expansion, digital transformation, product innovation, and deeper engagement with the next generation of players and fans,” according to the press release.
The investment adds to a growing portfolio of hockey-related companies for Seven7. The PE firm has also invested in LiveBarn, which provides online broadcasts for amateur and youth sports, including hockey; EZ Ice, which makes customized backyard ice rinks; and hockey-focused clothing brand Sauce Hockey. Tuesday’s press release also notes Seven7 is an investor in a U.S. Hockey League franchise, but it’s not clear which team.
The deal comes less than a year after Sweden-based Altor acquired a majority stake in CCM last October.
CCM makes skates, sticks, helmets, and other hockey products. Based in Canada, the company has existed since 1899 and boasts a laundry list of famous NHL endorsers, including Sidney Crosby and Connor McDavid.
When Altor bought its stake, it represented CCM’s fourth owner since 2000; Reebok bought it in 2004 only to sell it to Adidas two years later. In 2017, Adidas sold CCM to Birch Hill Equity Partners for $110 million.
CCM’s main competitor, Bauer Hockey, also got new ownership late last year. In September, Toronto-based, publicly traded conglomerate Fairfax Financial Holdings announced the acquisition of Peak Achievement Athletics, whose portfolio included Bauer. That deal closed in December.
