Sportexe Announces Changes
Following its acquisition in the first quarter of 2007 by private investment firm Insight Equity, Sportexe, a global leader in the synthetic turf industry for the past 18 years, has undergone an extensive review of its operations with a view to enhancing cost effectiveness and functional efficiency.
This review has resulted in several changes at Sportexe, including an enhanced focus on project management, direct customer contact and improving the overall experience of making an investment in a synthetic turf system.
Consistent with this focus, Sportexe has announced the establishment of a new corporate headquarters and consolidation of its primary executive, financial and operational functions in Dallas, Texas. Sportexe’s Round Rock, Texas, facility will be relocated and all functions previously located there will be transferred to the new corporate headquarters in Dallas.
Sportexe will continue to have a long-term presence in Canada where the concentration will remain on the golf, indoor sports, and other specialized turf applications. Sportexe’s Calhoun, Georgia, facility will continue to host the research and development, warehousing and field assembly functions.
In addition, Insight Equity has announced the appointment of Sportexe’s current President, Stephen Noe, to the post of Chief Executive Officer. This appointment follows the departure of founder and former CEO, Mark Nicholls, who leaves Sportexe to pursue other endeavors.
“The Dallas location was selected due to its proximity to superior airport facilities and its central U.S. location,” said Noe. “This will enable an increased interaction with our client base during all aspects of the turf selection and installation process, all of which are designed to provide a superior buying experience.”
Noe joined Sportexe in July of 2007. Prior to this he was Group Vice President at Day International, a $400 million provider of products to the printing industry. Before Day, he was employed at FMC Corporation, a $5 billion company, as Business Director for the Phosphorus Chemical Division.
Sportexe, which can be found underfoot of many of the world’s elite athletes, will continue to focus on its areas of core competency, in particular athletic applications and the aviation turf market, while it ramps up its corporate and U.S. operations functions in the Dallas headquarters.
“This is an exciting time for Sportexe,” added Noe. “The synthetic turf industry is undergoing unprecedented growth globally and this acquisition simply solidifies the Sportexe commitment to offering competitive products and pricing while raising the bar on industry standards and practices.”
Insight Equity Holdings, based in Southlake, Texas, is a private equity firm that makes control investments in strategically strong, middle-market companies that have the potential for significant industry growth. Insight’s experienced principals, who themselves are the second-largest investors in their own fund, have acquired and managed businesses with over $3B in aggregate revenue since 1998.
Insight’s current fund has $280 million in capital with significant assets in reserve, available for investment in new or existing portfolio companies.
About Sportexe: With offices in Ontario, Texas, and Georgia, Sportexe is dedicated to delivering top-notch synthetic turf solutions to each and every client. As an acknowledged leader in the industry, the U.S Company prides itself on delivering products that feature the latest in innovation and superior engineering with an emphasis on research and development. Currently Sportexe is the exclusive or official turf system supplier for The Arena Football League, (AFL/AF2), National Lacrosse League (NLL), Major Indoor Soccer League (MISL), U.S. Indoor Soccer Association. For additional information and an inside look at our cutting-edge products, please visit www.sportexe.com