0000009459 00000 n CIT Group Inc. (NYSE: CIT) today announced that CIT Northbridge Credit, as advised by CIT Asset Management LLC, served as sole lead arranger on a $40 million senior secured credit facility for Europa Sports Products LLC.Europa Sports Products is an industry-leading distributor of nutritional and sports supplements, sports drinks and accessories to mass market retailers, gyms, health food stores, specialty supplement retailers, sporting goods stores and many other outlets. Europa services mass market retailers, gyms, health food stores, and specialty supplement retailers through seven distribution centers located in Charlotte, NC, Dallas, TX, Strongsville, OH, Fresno, CA, Windsor, CT, Orlando, FL, and Las Vegas, NV. With our significant experience providing investment banking services across key industries, we are able to offer our clients solutions that help them to achieve their strategic objectives. About the ISSN Since 2003, the International Society of Sports Nutrition is recognized as the only not-for-profit academic-based society dedicated to sports nutrition and growing the science of applied nutrition. /AcroForm << WebEuropa Sports Products, Inc. Overview. I saw that youth sports had become such a massive industry. Managing Director | Deloitte Corporate Finance LLC, Financial Sponsors and Strategic Growth Services, Financial Industry Regulatory Authority (FINRA), Securities Investor Protection Corporation (SIPC). /Type /XRef WebWelcome to Europa Sports Partners Based in Charlotte, North Carolina, were the nations industry-leading distributor of nutritional and sports supplements, sports drinks and Europa Sports has a strong track record of nearly 30 years of experience in the sports nutrition industry and works closely with manufacturers and key brand stakeholders to ensure efficient distribution of the highest quality products. After first announcing plans to close all of its New York City studios in April, YogaWorks filed for Chapter 11 bankruptcy protection on October 14. x. CIT Group Inc. (NYSE: CIT) today announced that CIT Northbridge Credit, as advised by CIT Asset Management LLC, served as sole lead arranger on a $40 million 0000001472 00000 n Theres one common theme in all of these cases, he said. PitchBooks non-financial metrics help you gauge a companys traction and growth using web presence and social reach. When typing in this field, a list of search results will appear and be automatically updated as you type. The nonprofit organization reported more than $1.1 million in revenue in 2019 alone, according to the most recent tax records available. 0000008819 00000 n Helping Europa and Lone Star find a strategic partnership aimed at advancing their position as a market leader in the nutritional and sports supplements space was a rewarding experience, said Lorin DeMordaunt, managing director and Consumer and Retail Group lead, Deloitte Corporate Finance LLC. Significant legal events involving law firms, companies, industries, and government agencies. 0000020518 00000 n For more information, visit www.europasports.com. For more information, visit www.investmentbanking.deloitte.com. as well as other partner offers and accept our, J. Conrad Williams Jr./Newsday via Getty Images. Claim your Free Employer Profile Website: www.europasports.com Headquarters: Charlotte, NC Size: 201 to 500 Employees Founded: 1990 Type: Company - Private Industry: Wholesale Revenue: $100 to $500 million (USD) Competitors: Unknown Flywheel Sports filed for Chapter 7 bankruptcy on September 15 in an announcement that called for the permanent closure of all 42 of its spin studios around the country. He wasnt going to stop leading the basketball team he loved. DCF, together with the Corporate Finance Advisory practices within the Deloitte Touche Tohmatsu Limited network of member firms, include in excess of 1,900 professionals, who work collaboratively across 150 international locations. While lawyers for the Timbers contend that the embezzlement case has jeopardized the organizations status as a tax-exempt nonprofit, the club is still facing considerable debt to build new fields roughly $760,000, according to the clubs latest newsletter sent out to parents in September. Youth sports in recent years have exploded into a $19 billion enterprise, by some accounts, but their ecosystem is built on a shaky foundation of nonprofit clubs, many run by volunteers. He was 34 when he was diagnosed with ALS. "Europa is pleased to partner with the ISSN as a professional level member. 0000003853 00000 n Lorin leads DCF's Consumer Business Group. I took a free trial but didn't get a verification email. When it comes to The largest youth soccer club in central Oregon, the Timbers date back several decades as an informal local club and officially became an incorporated organization in 2005. Serving Asset-Based Lending Decision Makers. /DR << Europa Sports has played an instrumental role in this revolution since 1990, educating the sports community and distributing evidence-based nutrition that can enable athletes to train harder and recover faster. WebIn the bankruptcy filing, the retailer said it anticipates closing all of its stores by June 30. Try our Advanced Search for more refined results, Searching cases in Europa Sports Products Inc The Deloitte Corporate Finance team was instrumental in helping us navigate a mutually exciting transaction with Lone Star and Sheridan Capital Partners. /DA (/Helv 0 Tf 0 g ) endobj Ryan Shore, the board president who hired Bilanski as the Timbers technical director in 2013, said in an interview that the club had outsourced companies to run camps for years. WebContact Us Regarding Your Company Profile All Companies Named EUROPA SPORTS PARTNERS, LLC Search All California Companies Learn About Our Pro Search Subscription Service The information on this page is being provided for the purpose of informing the public about a matter of genuine public interest. Click here to login, Enter your details below and select your area(s) of interest to stay ahead of the curve and receive Law360's daily newsletters, Email (NOTE: Free email domains not supported). "We are pleased to work with the company to arrange this asset-based financing that meets their needs and supports their business strategy. Bringing together the industry with science can only result in better products," said Dr. Jose Antonio, CEO and co-founder of the ISSN. Based in Charlotte, NC, Europa Sports Products is recognized as an industry leader in the distribution of nutritional and sports supplements, sports drinks You have to know whats happening with clients, competitors, practice areas, and industries. Law360 may contact you in your professional capacity with information about our other products, services and events that we believe may be of interest.Youll be able to update your communication preferences via the unsubscribe link provided within our communications.We take your privacy seriously. The ongoing case reveals the complexities of running a youth sports organization: Leaders engaged in bickering, name-calling and political maneuvering, all the while leaving kids in the crossfire or, in some cases, altogether forgotten. WebScott has over 40 years experience repairing and servicing Honda products, ATVs, Motorcycles. As the executive director of the Timbers, she wore many hats she served as a coach, handled financial oversight and directed human resources, helping grow the Timbers into a club that today features two full-time employees, five part-time employees, 20 paid coaches and 10 volunteers on the board of directors. The coronavirus outbreak has wreaked havoc on nearly every sector of the retail industry including fitness and sporting goods. >> Dude, she texted to Bilanski, according to court records. Prior to joining DCF, James served as a vice president at McColl Partners, LLC. Click here to login, Enter your details below and select your area(s) of interest to stay ahead of the curve and receive Law360's daily newsletters, Email (NOTE: Free email domains not supported). Prior engagement performance is no guarantee of future performance and may not be representative of the experience of other clients. "While we achieved some success, in partnership with our landlords and vendors, it was not enough to avoid a bankruptcy filing amid an extremely challenging environment for retailers," CEO Mitchell Modell said in a statement, according to Bloomberg. WebFast paced positive culture. E.J. 0000003152 00000 n not be reproduced, distributed, transmitted, cached or otherwise used without written When Hart commented on a social media post in 2021, Bilanski texted to Davin that Hart and her son would be black listed, according to the lawsuit. To explore Europa Sports Productss full profile, request access. from 8 AM - 9 PM ET. The new membership with ISSN will generate multiple benefits for Europa's growing roster of mass market retailers, gyms, box owners, health food stores, and specialty supplement stores. A joint venture advised by CIT Asset Management, it provides revolving and term loan commitments from $15 million to $150 million to companies across various industries and business cycles, and serves primarily as sole lender, agent, club participant or co-lender. Discover more about Europa Sports Partners. %PDF-1.5 /Root 72 0 R This information is available in the PitchBook Platform. For more information visit www.europasports.com. /L 288711 0000004009 00000 n Their collective knowledge of the consumer industry and transactional experience in the nutritional supplements space were key to the process, said Jeff Compton, co-CEO of the newly combined company. Tim Swingler, the former president of the club, said Wells was a trusted volunteer who never brought actual bank statements to board meetings, instead representing the clubs spending through his own accounting. >> There is plenty of work to do off it. For more information, visit www.lonestardistribution.com. Was Bend Timbers, before the split, run as a business with integrity or not? Europa services mass market retailers, gyms, health food stores and specialty supplement retailers through seven distribution centers located in Charlotte, NC, Dallas, TX, Strongsville, OH, Fresno, CA, Windsor, CT, Orlando, FL, and Las Vegas, NV. Daily and real-time news and case alerts on organizations, industries, and customized search queries. In Wisconsin, a former treasurer was charged with embezzling more than $84,000 from a basketball club over a seven-year span, allegedly spending more than $73,000 on retail items, meals at restaurants, airline tickets and mobile phone bills. Its a function of the growth of the industry, Carrozza said. Very little interaction. consent from ABL Advisor, Incorporated. Effort there is terrible and it is like pulling teeth to get promoted when it is earned. The s--- that I can see on the google admin is crazy. Win whats next. While it is impossible to know whether embezzlement is on the rise in youth sports there is no centralized body tracking cases in the industry it has been a pervasive problem for years, said Erik Carrozza, who served for more than a decade as a youth sports treasurer in suburban Philadelphia and started a nonprofit called the Center for Fraud Prevention to help organizations avoid embezzlement. Its not making sense to us., Massive sports complexes are latest front in war for visitors, dollars. >> Further, we are optimistic as we launch new products and build new relationships across both domestic and international markets.. WebIntellectual Property Securities Bankruptcy Competition Employment White Collar Legal Industry Access To Justice Law360 UK Pulse || See all sections || TAKE A FREE TRIAL It tore the community apart, he said. Bend is not the only community to wrestle with accusations of embezzlement within its youth sports ranks in recent years. Get 5 free searches. Each of these companies also join a rapidly expanding list of retail bankruptcies so far this year, which include restaurants and off-price clothing brands. /PDFDocEncoding 69 0 R We greatly appreciated the expertise and agility of the CIT Northbridge team in arranging this financing to meet our business objectives.Europa Sports Products is unmatched as a distributor of nutritional and sports supplements and a wide range of other products to outlets across the U.S. and abroad, said Neal Legan, who leads CIT Northbridge. Law360 may contact you in your professional capacity with information about our other products, services and events that we believe may be of interest.Youll be able to update your communication preferences via the unsubscribe link provided within our communications.We take your privacy seriously. Friday, November 13, 2020. Get the full list, To view Europa Sports Productss complete investments history, request access, Morningstar Institutional Equity Research, Chief Financial Officer & Chief Administrative Officer. About Europa Sports Products, Inc. Europa is a national specialty distributor of sports nutrition and fitness products, including protein powders, nutrition bars, I lost most of my friends I had been playing with since kindergarten. His home has also been targeted because his mother is the former board president, according to court records. About Lone Star Distribution trailer In addition to delivering leading-edge nutrition management to its' customers, Europa's Professional Level ISSN membership will lead to more informed teams and therefore customers in all segments and levels. After first announcing plans to close all of its New York City studios in April, Environmental, Social and Governance (ESG), HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American, International Society of Sports Nutrition. Sheridan Capital Partners focuses on providing private equity in support of leveraged buyouts, growth recapitalizations, and large minority financings of lower middle market companies across the healthcare and consumer sectors. He warned her of the ongoing lawsuits but opted to not interfere with her choice. 0000004572 00000 n Price also has been forced to navigate the drama of the lawsuits; while the board has filled him in on the proceedings, he rarely brings the case up. There were hard lessons learned in Hanover, Pa., when a former treasurer stole nearly $630,000 from Hanover Soccer Club and the South Western Youth Lacrosse organization over a six-year period. About Lone Star Distribution Contact Who is Europa Sports Partners Headquarters 11401 Granite St, Charlotte, North Carolina, 28273, United States According to court records, neither Bilanski nor Davin obtained approval from the Timbers board to keep those funds and they attempted to conceal the transactions by allegedly representing their work running the Timbers-owned summer camps as a profit-sharing agreement that would pay Bilanski and Davin a kickback of 85 percent of the camp revenue. /H [ 1719 306 ] Gold's Gym filed for Chapter 11 bankruptcy protection in May, shortly after the company announced it would shutter 30 locations that had been temporarily closed early on in the pandemic. Youre viewing 3 of 9 executive team members. Deloitte Corporate Finance LLC, an SEC registered broker-dealer and member ofFINRA and SIPC, is an indirect wholly-owned subsidiary of Deloitte Financial Advisory Services LLP and affiliate of Deloitte Transactions and Business Analytics LLP. >> As the industry continues to grow, many clubs find themselves vulnerable, and embezzlement scandals have fractured organizations and communities across the country a youth basketball club in Omaha; a wrestling club in Mt. Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries. He wanted to prove that he wasnt making a mistake by staying with the Timbers. In the legal profession, information is the key to success. As courts sort the truth, the ongoing case serves as a high-profile example of what many youth sports organizations must contend with. I think its really shattered a lot of longtime parental relationships. The NBA's Phoenix Suns and WNBA's Phoenix Mercury announced a new television and streaming rights deal for their basketball games on Friday, over the Europa services mass market retailers, gyms, health food stores, and specialty supplement retailers through seven distribution centers located in Charlotte, NC, Dallas, TX, Strongsville, OH, Fresno, CA, Windsor, CT, Orlando, FL, and Las Vegas, NV. This will be a huge advantage for our customers and the many markets that are looking to optimize their inventory by bridging science and nutrition," said Eric Hillman, Co-founder and Co-CEO of Europa Sports. All rights reserved. No eye contact at games. She handed over her Timbers-issued laptop. %%EOF Bilanski has not denied taking the money but says it was part of a profit-sharing agreement with the club. This warehouse has a very good, positive flow to it. Our entire organization has rallied around ramping up procurement and operations to fulfill the pent-up demand we have across all of our distribution channels. They operate as big businesses but have sloppy accounting and murky financial oversight. Their collective knowledge of the consumer industry and transactional experience in the nutritional supplements space were key to the process," said Jeff Compton, co-CEO of the newly combined company. Everyone is shocked when it happens because they trust who is handling the money.. 2023, Portfolio Media, Inc. | About | Contact Us | Legal Jobs | Advertise with Law360 | Careers at Law360 | Terms | Privacy Policy | Cookie Settings | Help | Site Map. Significant legal events involving law firms, companies, industries, and government agencies. Is youth sports next? 71 0 obj In June, while still employed by the Timbers, one of the clubs coaches, John OSullivan, allegedly began circulating a detailed plan to form a rival club. /ABCpdf 6109 NEW YORK, July 15, 2020 / PRNewswire / -- CIT Group Inc. (NYSE: CIT) today announced that CIT Northbridge Credit, as advised by CIT Asset Management LLC, served as sole lead arranger on a $40 million senior secured credit facility for Europa Sports Products LLC. >> Ethan said he is having the most fun playing soccer since joining the club six years ago. 2023. The ISSN is also recognized by many Universities as offering the latest, cutting edge and non-biased information about the scienceand application ofsports nutrition and supplements. I thought, its probably easier to go in somewhere thats been struggling or has gone through a period of turmoil and fix it than to go to a well-oiled machine, he said. And the kids are caught in the middle of it.. Please see our Privacy Policy. Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries. In the legal profession, information is the key to success. This communication is for informational purposes only and is not intended as an offer or solicitation for the purchase or sale of a security. For more information visit www.issn.net. Already a subscriber? 0000009152 00000 n WebGet David Hayes's email address (d*****@europasports.com) and phone number (704957.) at RocketReach. Please visit europasports.com for additional detail. /Filter /FlateDecode About Sheridan Capital Partners Sheridan Capital Partners focuses on providing private equity in support of leveraged buyouts, growth recapitalizations, and large minority financings of lower middle market companies across the healthcare and consumer sectors. I took a free trial but didn't get a verification email. KeyBanc Capital Markets, City National Bank Arrange $225MM Energy Transition Debt Facility with Scale Microgrids, New York Community Bancorp Acquires $38B of Assets of Signature Bridge Bank from FDIC, Jefferies Arranges $130MM Term Loan for Danimer Scientific, CIFC Adds Kunz as Managing Director in Investor Solutions Group, Ares Commercial Finance Provides $31.2MM Credit Facility to Leading Manufacturer, Distributor of Home and Garden Equipment, Ares Management Closes $2.1B in Direct Lending Commitments in Q1, $23.5B in Last 12 Months, Oaktree Provides $250MM Term Loan Facility to Seres Therapeutics, Flux Power Renews $14MM Credit Facility with First Citizens Bank, 76% of Small Businesses Feel Well-Equipped to Survive a Recession, BofA Survey, Ocean Bank Provides $10MM Factoring Facility to Leading Specialty Repair Company, eCapital Healthcare Division Delivers Funding to Nine Healthcare Providers in Q1, First Citizens Bank Provides $16MM in Financing to FitLife Brands, Flatbay Funds $2.5MM Owner-Occupied CRE Bridge Loan for Serial Entrepreneur, Portage Point Bolsters Middle Market Investment Banking Practice with Addition of Waldman, Citizens Business Conditions Index Bounces Back in Q1, U.S. Census Bureau U.S. Department of Commerce, Full Report on Manufacturers' Shipments, Inventories and Orders - March 2022, What Asset-Based Lending Can Learn from AI in the Grocery Sector, Gibraltar Equipment Finance Built on a Solid Foundation and Ready to Roll, In Todays World, Many Companies are Taking a Hard Look at Their Liquidity, Events About Europa Sports Products Based in Charlotte, NC, Europa Sports Products is recognized as an industry leader in the distribution of nutritional and sports supplements, sports drinks and accessories to mass market retailers, gyms, health food stores and specialty supplement retailers. xAa,hN!dH"0K)V%( [`X:Q^j7r{8!`JoX2". Deloitte Corporate Finance LLC, an SEC registered broker-dealer and member of FINRA and SIPC, is an indirect wholly-owned subsidiary of Deloitte Financial Advisory Services LLP and affiliate of Deloitte Transactions and Business Analytics LLP. 0000005971 00000 n As part of the bankruptcy proceedings, the company said permanent closures are slated to affect only company-owned locations which comprise 10% of Gold Gym's 700 locations around the world and will not impact its franchises. Password (at least 8 characters required). A handful of coaches and roughly 120 players from the Timbers left last year to join Bilanskis new organization, Apex Futbol Club, cleaving the towns soccer community in half. Bilanski and several former Timbers staff members are also accused in a lawsuit of stealing the clubs trade secrets on their way out the door, according to court documents, altering records and transferring confidential personal information of thousands of players, including contact information, addresses and, in some cases, Social Security numbers while forming their own rival club in town. Bilanski and the other defendants in the case have sought a stay in the civil case. 0 >> With roughly 30 teams competing for the club, the Bend summer camps became a major draw under Bilanski, who charged around $150 in entry fees for the camps. On a sun-soaked Saturday afternoon in September, hundreds of parents lined the sidelines to watch their kids play at the Timbers turf fields at Pine Nursery Park, a 159-acre complex lush with towering pines, sage and ponds. WebEuropa Sports Products Overview Work Here? Deloitte Corporate Finance LLC provides strategic advisory services and M&A advice that help corporate, entrepreneurial, and private equity clients create and act upon opportunities for liquidity, growth, and long-term advantage. The transaction closed on Feb. 17, 2016. At subsequent practices, Wheeler could hear his teammates whisper that he didnt deserve to be on the team because his mother was on the board, he said in an interview. /T 287240 Industry. xref On a gloomy afternoon last November, nearly three months after she had been fired by the Timbers, Bilanski met with a paralegal from the law firm suing her in a Starbucks parking lot off Highway 97 in Bend. But its also a function of volunteer-based organizations and a combination of the general lack of oversight and governance that these organizations are subject to.. endobj By clicking Sign up, you agree to receive marketing emails from Insider The rift in Bends soccer scene was just beginning. Visit Business Insider Premium for more stories about the changing face of fitness. europa sports products inc europa sports products europa sports products llc europa europa inc sports products inc Europa Sports Partners Global Presence Search All Employees For more information, visit www.sheridancp.com. Try our Advanced Search for more refined results, Searching articles in Europa Sports Products Inc Additionally, AFI has invested significant capital to build ESPs inventory as part of this transaction, and CIT Northbridge Credit has provided a new working capital facility to support ESP. The ISSN conferences, tutorials, lectures and courses have been recognized by the American Dietetic Association, National Strength and Conditioning Association, American College of Sports Medicine, American Council on Exercise, American Physical Therapy Association, National Association of Athletic Trainers and other organizations as well. /Pages 66 0 R Lone Star operates six distribution centers located nationwide and is a portfolio company of Sheridan Capital Partners, a Chicago-based lower middle-market private equity firm. Password (at least 8 characters required). Theres often no governance of youth sports organizations not from parents, sponsors or local governments and most embezzlement cases involve treasurers or volunteer board members who have been trusted with an organizations funds, with little to no checks and balances on how budgets are operated. A surveillance camera set up in front of the familys house captured someone driving by and yelling, F--- you!, Its affected us, Ethan said. WebEuropa Sports Products, Inc. filed as a Foreign For-Profit Corporation in the State of Texas on Thursday, June 13, 2002 and is approximately twenty-one years old, according to /S 180 0000007892 00000 n I am so angry I want to stick it to these f---ers. OSullivans attorney did not respond to a request for comment. "If it were not for COVID-19 and its devastating effects, we would not be filing for Chapter 11," 24 Hour Fitness CEO Tony Ueber said in a statement. I get so annoyed by that and just leave, he said. from 8 AM - 9 PM ET. Brands listed failed to recover from temporary government-mandated closures to gyms and indoor fitness facilities earlier this year. 0000004943 00000 n He had never heard of Bend before applying for the job, which drew more than 200 applicants after Bilanski was fired. Shelley PfaendlerPublic RelationsDeloitte+ 1 212 492 4484[emailprotected]. AFI PARTNERS COMPLETES ACQUISITION OF WATERLOO INDUSTRIES, INC. ALVOGEN PARTNERS WITH ROBERT WESSMAN TO BUILD A LEADING INTERNATIONAL GENERICS COMPANY, NORWICH PHARMACEUTICALS PURCHASED BY AFI PARTNERS, 158 Mercer Street; 2nd Floor; NY, NY 10012, contactny@afipartners.com | 212-938-0016. By last fall, as Bilanski and the group of Timbers staffers and coaches were hit with the lawsuit, they peeled off to start Apex, drawing support from dozens of parents who believed they had been wronged by the Timbers board. Delaware-based Cyc Holdings, the owner of the indoor cycling chain Cyc Fitness, filed for Chapter 11 bankruptcy protection on October 14. 71 36 On May 20, 2021, AFI and its affiliates acquired certain of the operating assets, including the brand names and website, of Europa Sports Products, LLC (Products). The company's product portfolio includes protein powders, nutrition bars, sports drinks, sports performance supplements, vitamins and weight loss supplements. Town Sports International the parent company of New York Sports Clubs and Boston Sports Clubs, among a number of other fitness chains filed for Chapter 11 bankruptcy on September 14, citing pandemic-related difficulties. It should have never been a choice.. 0000000012 00000 n <724C1165F2B95DA6A70360D6FF741E39> ] Investment banking products and services within the United States are offered exclusively through Deloitte Corporate Finance LLC. The scandal has rocked Bends tightknit soccer community and has expanded beyond the accusation of embezzlement. With 10 massive distribution centers and offices strategically located nationwide, Europa's expedited delivery process allows customers to keep "Just in Time" inventory. Already a subscriber? 0000007039 00000 n With an in-depth understanding of the marketplace and access to a global network of investment bankers, we help clients confidently pursue strategic transactions in both domestic and global markets. WebEuropa Sports Products is located in North Carolina . According to the Timbers board of directors, the laptop contained evidence of financial impropriety; Bilanski had allegedly directed several unauthorized payments totaling $80,684 to herself over a six-year period and, in turn, had paid a portion of the funds to another former Timbers employee, Jen Davin. 0000003460 00000 n Copyright 2012-2023 But I also will not give them full admin access for a long long time.. 0000005315 00000 n 0000002497 00000 n /Font << Vitamins, Supplements & Health Stores Retail . In growing numbers, more and more families are realizing [Bilanskis] credentials. Law360 provides the intelligence you need to remain an expert and beat the competition. Directory, Extended Site x. The treasurer, David W. Wells, pleaded guilty to charges of theft in 2018 and received probation.
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