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Article Date: December 2010
Word Count: 434

Contentious End to Marathon Auction for Schutt Sports


After nearly 20 hours and 31 bids, the auction for the assets of football helmet maker Schutt Sports ended in a bit of controversy at 6:46 a.m. this morning. The auction began at 10:51 a.m. yesterday with three qualified bidders—stalking horse Kranos Intermediate Holding Corp., an affiliate of Platinum Equity of Beverly Hills, CA; Rawlings, and Two Point Conversion LLC.

 

At 12:35 a.m. this morning, Two Point dropped out of the bidding with a final offer of $31.7 million but consented to be the back-up bidder. Subsequently, the auction went with only Kranos and Rawlings participating.

 

Ultimately, Kranos submitted a bid of ... Log in to view full article.

 

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