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Thursday, December 23, 2010

Tippmann Sports Buys NXe

Tippmann Acquires NXe Paintball
Purchase will provide Tippmann with comprehensive new soft goods offering

BUFFALO GROVE, Ill. (December 20, 2010) – Tippmann Sports has acquired NXe, a manufacturer of soft goods for the paintball industry. The acquisition combines the industry's leading paintball marker brand with the leading soft goods brand. A full line of paintball harnesses, protective gear, tank covers, apparel, bags, pods and other miscellaneous accessories will be immediately integrated into Tippmann's existing product offering.

Howard Kosick, President and CEO of Tippmann, commented, "By acquiring NXe, we're adding a well-known and respected brand to our portfolio with a strong reputation for innovation and quality – two credentials Tippmann has maintained for more than 25 years. This move provides us with a comprehensive new product offering as well as access to NXe's factories, both of which are extremely valuable."

John Bosch, President of NXe, added, "It is with some sadness that we sell NXe, a company we built from the ground up over the past six years. But, it’s time to focus on our other businesses and we’re very excited that a company with the reputation of Tippmann will continue to carry on the NXe tradition. We really couldn’t have asked for a better situation."

The 2011 designs are complete and most of the new items are expected to be part of the Spring launch. Patrick Ehren, Vice President of Sales and Marketing for Tippmann, commented, "Although we're excited about moving forward, we do ask that both NXe's loyal customers as well as Tippmann customers remain patient as we work through the integration of the two companies, including having the right inventory mix. We expect there may be some bumps in the road, but we’ll do our best to maintain the highest level of customer service and also keep everyone informed along the way."

"Theo has a unique skill set that makes him an absolute natural for this new position," Ehren added. "He'll work closely with our Fort Wayne product development team, as well as our advisory staff and paintball teams to continue our company's focus on offering soft goods that meet the specific needs of paintball players of all experience levels. We're excited about having Theo on board and believe he'll play an important role in taking our soft goods offering to the next level."

On a related note, Tippmann Sports is pleased to announce the hiring of Theo Collins as Senior Product Manager for Apparel and Soft Goods. In this newly-created position, Collins will seek out opportunities to enhance and expand the company's line of performance apparel, street wear and other soft goods, including jerseys, pants, vests and protective gear. He joins Tippmann after serving as Director of Product Development at Boombah Inc., a rapidly-growing brand of athletic-inspired clothing and related sportswear. While at Boombah, Collins was responsible for the development of numerous new apparel lines from concept through final production.