PR: Scott Sports Group Announces New Ownership
(6-9-98)

(Press Release, June 9)-Scott Sports Group recently announced that the company's United States and European management team has acquired Scott from its previous owners, Zell/Chilmark Fund LP, Charles Ferries, and minority shareholders. The new worldwide management team and ownership will be led by Tom Stendahl, newly appointed chairman and CEO, and Beat Zaugg, president of Scott Europe, who, as majority shareholders and the management team, have established a Management Buyout Organization (MBO) to allow for this change in control.

"This strategic move will allow Scott Sports Group and its affiliates to continue to refocus its efforts," said Stendahl. "As we move forward, the newly formed management team of owners will emphasize customer service in each of the markets we serve."

The company plans to concentrate all human and financial resources to strengthening the Scott brand and its current leading position in bicycle, winter-sports, and motorcycle accessories.

Aside from Tom Stendahl rejoining the company as chairman and CEO, no major changes in the Scott Sports Group organizational structure or management teams are currently planned. Charles Ferries, former Scott Sports Group chairman and CEO, has resigned to pursue other interests.

Established in 1958, Scott is an international manufacturer and marketer of premium winter-sports and motorcycle accessories, and enjoys the dominant marketshare for its full line of performance bicycles and bike accessories for the European markets. The company holds a major marketshare in winter-sports and motorcycle goggles. As the innovator of the aluminum ski pole, Scott maintains the number-one market position in Alpine ski poles.

Back to Business Main