Paintball Leader G.I. Sportz Inc. Completes Restructuring, Now Known as Kore Outdoor Inc.
01 Dec, 2020, 14:00 GMT
Strengthened company to continue serving global paintball community under existing portfolio of brands
MONTREAL, Dec. 1, 2020 /PRNewswire/ -- G.I. Sportz Inc., a global leader in the manufacturing of high-quality paintball products, today announced the completion of a restructuring process that has culminated in its sale to Kore Outdoor Inc. ("Kore"). Kore is a newly established entity owned by existing G.I. Sportz majority shareholder Fulcrum Capital Partners ("Fulcrum"), and shareholders that include members of the management team and Richmond Italia.
The restructuring under the Kore name is designed to strengthen the company and ensure uninterrupted service to its customers worldwide. Kore will continue to operate a portfolio of brands which includes G.I. Sportz, Empire, Tippman, Spyder, JT and VForce. Collectively, these brands comprise the world's best-selling and most comprehensive suite of paintball products.
"We are very excited to complete this important process and turn our full attention to meeting the needs of the paintball community," said Billy Ceranski, CEO of Kore. "We take our leadership position seriously and look forward to continuing to serve our customers with innovative and reliable products."
"The establishment of Kore Outdoor sets the stage for long-term success as the world's premier manufacturer and supplier of paintball products," said Greg Collings, Chairman of Kore and a partner of Fulcrum. "We have helped optimize the operations and ensured that the team has the resources necessary to compete successfully and grow the business."
Kore will continue to be run by the existing management team. In conjunction with the sale, G.I. Sportz President Billy Ceranski has been appointed Chief Executive Officer of Kore, G.I. Sportz Chief Financial Officer Paul Antoniadis has been appointed Senior Vice President and CFO of Kore, and Dave "Opie" Thomas will continue to serve as Chief Operating Officer.
About Kore Outdoor Inc.
Kore Outdoor Inc., formerly known as G.I. Sportz, manufactures and distributes paintballs, markers and related accessories. Kore serves a worldwide customer base of paintball fields and stores. Kore is recognized as a global leader in the manufacturing of high-quality paintball products which are marketed to individuals at all levels of play, from entry level to competitive play market segments.
SOURCE G.I. Sportz Inc.
