CHICAGO — Riddell Sports Inc. is discussing a sale of its plastics-related football-helmet business to a New York private equity firm, according to an April 23 report in Crain's Chicago Business.
The newspaper, a sister publication of Plastics News, quoted a person familiar with the situation as saying Lincolnshire Management Inc. was expected to pay about $65 million to buy Chicago-based Riddell Inc.
A Lincolnshire executive declined comment on the report. Officials with New York-based Riddell Sports did not return telephone calls seeking confirmation.
Riddell Inc. produces helmets with injection molded shells made of polycarbonate with energy-absorbing padding inside. The helmets are used by about 80 percent of all National Football League players and half of U.S. college and high-school players, according to the publicly held company's 2000 annual report.
The parent company recorded $234.7 million in sales for 2000 but does not break out sales for its Riddell Inc. subsidiary. The business unit operates a 95,000-square-foot manufacturing and administrative site in Chicago.