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At A Glance

Windjammer Capital Investors has been awarded "Middle Market Firm of the Year: North America" in two consecutive years, 2011 and 2012, by DealMakers Monthly magazine.

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Oct, 2005 - Windjammer's Portfolio Company, Schutt Sports Group, Announces the Acquisition of Circle Systems

Windjammer's portfolio company, Schutt Sports Group, announced the acquisition of Circle Systems, one of the largest athletic equipment reconditioning companies in the United States. Circle's primary business is the reconditioning of football, baseball, softball, lacrosse, and hockey equipment. Schutt is a leading sporting goods manufacturing company with a significant market share in the football helmet, faceguard and softball helmet markets. Windjammer provided subordinated debt and equity to help finance the acquisition of Circle. The integration of Circle into the Schutt organization will provide the combined entity a stable and predictable stream of revenue and profits as most youth, high school and college programs have their safety equipment reconditioned on an annual basis. Similar to Schutt's core football helmet and protective equipment business, the coaches and athletic directors that make the buying / reconditioning decision tend to be very loyal customers, who value consistent quality and service. In addition, with the inclusion of Circle's reconditioning business, Schutt will have better insight into the new helmet and equipment needs of the programs which Circle serves, as every season between 10 20% of all the helmets and protective equipment that are being reconditioned are considered damaged or unsafe and need to be replaced. We feel that the combined Schutt / Circle business will serve as an even stronger platform for additional add-on acquisitions as the company is well positioned to evaluate both protective equipment manufacturers as well as other independent reconditioning businesses.

"We were very fortunate to have Windjammer as our partner. Their expertise in working with niche-oriented, leading companies in the middle market, as well as their strategic guidance and resources were valuable to us as we expanded the business."

Dale Schulz, CEO
ST Specialty Foods