Leading Online Lacrosse Retailer Lax.com Acquired by Private Investor Consortium
Private Investor Consortium United States
Bowen Advisors Serves as Strategic Advisor to Lax.com
BOSTON, December 12, 2018 – Bowen Advisors is pleased to announce that Lax.com has been acquired by a private investor consortium, led by Peter Hopper (CEO and Co-Founder, DH Capital) and Bill Luby (Founding Partner, Seaport Capital). Since its inception, Lax.com has established itself as a leading e-commerce retailer of lacrosse equipment, a trusted partner for customized team apparel and a producer of original lacrosse content and statistics. Bowen Advisors acted as the exclusive sellside M&A advisor to Lax.com.
Based in Norwalk, Connecticut, Lax.com is an e-commerce platform that has served lacrosse players and fans for nearly 20 years. Lacrosse has been one of the fastest growing team sports in the U.S., with participation rates increasing 225% since 2001. The Federation of International Lacrosse recently received provisional recognition by the International Olympic Committee, which is a major step toward inclusion in the 2028 Olympics in Los Angeles and further evidence of lacrosse’s growing global popularity and significance.
“Our success at Lax.com has always stemmed from our deep love of lacrosse, and I am thrilled to partner with our new ownership team that brings this shared passion for the sport and athlete,” said John Arrix, Chief Executive Officer of Lax.com. “During the M&A process, it was imperative that our potential acquirers understood and appreciated the nuances of the lacrosse customer and market. The Bowen team’s industry knowledge and transaction strategy enabled us to find the right buyer and achieve a successful outcome.”
Peter Hopper added, “We’re excited to be investing behind John Arrix and the great team at Lax.com. We believe the company is well positioned to grow with the sport and the industry, and we are thrilled to support them.”
“The sports economy is in the early innings of transformative innovation, from advanced analytics to eSports,” said Paul Bowen, President of Bowen Advisors. “We entered the Sports Technology sector as we view it as a natural extension of our core technology focus, industry knowledge, and passion for sports that stems from our employee base filled with former athletes. This transaction exemplifies our excitement about and increasing commitment to the emerging Sports Technology industry.”