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). The company's product portfolio includes protein powders, nutrition bars, sports drinks, sports performance supplements, vitamins and weight loss supplements. 73 0 obj 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. WebEuropa Sports Products is located in North Carolina . But by the summer of 2021, Bilanski had fallen out of favor with the clubs board of directors and many of its parents, and after stakeholders conducted a survey and determined she had not been performing her job duties satisfactorily, she was fired that August. AFI Partners, LLC (AFI), a New York based private equity firm, is pleased to announce the formation of a new company, Europa Sports Partners, LLC (ESP). A growing number of fitness companies have filed for Chapter 7 or Chapter 11 bankruptcy in recent months, after failing to recover from temporary government-mandated closures to gyms and indoor fitness facilities intended to prevent the spread of the disease. Some families have kids playing for both clubs, including Gassner, who let his daughter, a senior in high school, make her own decision to leave for Apex last year. 's annual revenues are over $500 million (see exact revenue data) and has 100-500 employees. See Terms of Use for more information. YogaWorks. 2023. /H [ 1719 306 ] All rights reserved. 0000008195 00000 n 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. 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. 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. Your Company Listed, Submit startxref 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. Already a subscriber? 0000007039 00000 n 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). The company said in a statement that it aims to use financial restructuring to "properly respond to the COVID-19 pandemic, with the long-term goal to emerge as a thriving powerhouse in the fitness industry.". 0000004572 00000 n Equipment Finance Advisor, Inc. All rights reserved. CHARLOTTE, N.C., March 4, 2016 /PRNewswire/ --Deloitte Corporate Finance LLC (DCF) acted as the exclusive financial advisor to Europa Sports Products, Inc. (Europa), a Charlotte-based wholesale distributor of sports and fitness supplements, in its merger with Lone Star Distribution (Lone Star), a portfolio company of Sheridan Capital Partners. After first announcing plans to close all of its New York City studios in April, >> BEND, Ore. Tara Bilanski was already a household name in the Pacific Northwest soccer scene when she was named executive director of the Bend FC Timbers in 2016. /ID [ <958DB2D77671C4A96F5CA912B922465B> Thats what was really the lesson learned is that you cant trust one guy with the keys to the kingdom, Swingler said. 0000007643 00000 n It's Monday through Friday, 11am to finish for the majority of shifts. We had those kind of increases and moneymaking abilities to draw her as a new hire. Shore said he was not familiar with Bilanskis more recent employment contracts with the Timbers. In a deposition with attorneys for the Timbers, Bilanski invoked her Fifth Amendment right more than 340 times. Members of these organizations earn continuing education credits by attending ISSN Conferences and Symposia. /Fields [ ] Her credentials energized one of the states largest clubs, and over the next five years, she received several pay raises that eventually bumped her salary up to $119,000 per year nearly $30,000 more than she made as a head coach at the University of Oregon. 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 I think the [board] has done a great job of shielding the people who are trying to rebuild. 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. Europa is setting the industry standard in quality, product assortment, customer service and satisfaction. Use tab to navigate through the menu items. /ZaDb 70 0 R Was Bend Timbers, before the split, run as a business with integrity or not? It should have never been a choice.. xAa,hN!dH"0K)V%( [`X:Q^j7r{8!`JoX2". He was 34 when he was diagnosed with ALS. /Type /Catalog 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. Further, we are optimistic as we launch new products and build new relationships across both domestic and international markets.. Morris, Mich.; and a soccer and lacrosse club Hanover, Pa. Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries. 0000004009 00000 n 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. They operate as big businesses but have sloppy accounting and murky financial oversight. 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. 0000009459 00000 n /L 288711 In Virginia, an Ashburn woman pleaded guilty in January to stealing an unspecified amount of money from McLean Youth Football the organization dissolved at the time of the scheme in 2016 using funds for meals at restaurants, visits to a spa and pet care. Like several other fitness companies, Cyc Fitness took a hit from closing its studios to prevent the spread of the coronavirus. He wanted to prove that he wasnt making a mistake by staying with the Timbers. The culprit, they determined, was Bilanski and another former Timbers employee. 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. 0000003645 00000 n 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.. 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. 2023, Portfolio Media, Inc. | About | Contact Us | Legal Jobs | Advertise with Law360 | Careers at Law360 | Terms | Privacy Policy | Cookie Settings | Help | Site Map. /PageMode /UseNone >> Its a function of the growth of the industry, Carrozza said. When typing in this field, a list of search results will appear and be automatically updated as you type. It tore the community apart, he said. The coronavirus outbreak has wreaked havoc on nearly every sector of the retail industry including fitness and sporting goods. As courts sort the truth, the ongoing case serves as a high-profile example of what many youth sports organizations must contend with. 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. Prior engagement performance is no guarantee of future performance and may not be representative of the experience of other clients. 0 He eventually raced to his black pickup and headed to watch his son play for Summit, one of the local high schools where Timbers and Apex club players have come together to play for the fall. Vitamins, Supplements & Health Stores Retail . 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. Some businesses are choosing to work with financial professionals, such as asset-based lenders, to improve their liquidity position for the short and long term. This information is available in the PitchBook Platform. Shelley PfaendlerPublic RelationsDeloitte+ 1 212 492 4484[emailprotected]. 25 YEARS IN BUSINESS (704) 405-2022 Visit Website Map & Directions 11401 Granite St Ste HCharlotte, NC 28273 Write a Review Is this your business? About Lone Star Distribution 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. Very little interaction. Lone Star is a national specialty distributor of sports nutrition and fitness products. 0000009152 00000 n 0000093001 00000 n from 8 AM - 9 PM ET. If she did indeed pocket the money God, thats so wrong on so many levels. Adversary case 20-09059 12 Related [+] 14 : Complaint by The Finley Group, Inc. against Europa Sports Products LLC Fee Amount Company News. 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 /DA (/Helv 0 Tf 0 g ) Bilanski had coached the University of Oregons womens program for eight years, leaving as the schools all-time winningest coach. 0000004251 00000 n Investment banking products and services within the United States are offered exclusively through Deloitte Corporate Finance LLC. Try our Advanced Search for more refined results, Searching cases in Europa Sports Products Inc Our people and our culture make Deloitte a place where leaders thrive. It wasnt soccer first, he said. >> With the successful national rollout of vaccinations and a renewed focus on nutrition and personal health, we believe ESP is positioned to perform at an exceedingly high level., Robbie Duncan said, It is great to work with the AFI team, especially given their track record in partnering with brands to significantly increase distribution and value over several of their prior investments. Bilanski and several former employees downloaded over 7,000 documents and edited, shared or deleted hundreds of documents from the Timbers Google Workspace IT systems in the 11 days after Bilanski was fired, according to the lawsuit; when the administrator told Davin she was removing certain files, Davin allegedly responded: Delete f---ing away.. /Prev 287229 >> 1 Europa Sports Products reviews in Pompano Beach. 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. /Size 107 The number of bankruptcy declarations among EU businesses increased substantially in the fourth quarter of 2022 (+26.8% compared with the previous quarter) and reached the highest levels since the start of the data collection in 2015. The Hanover Soccer Club stayed afloat but was set back years in its plans to develop a capital project for new fields. I took a free trial but didn't get a verification email. Certain services may not be available to attest clients under the rules and regulations of public accounting. I saw that youth sports had become such a massive industry. For more information visit www.issn.net. << In the legal profession, information is the key to success. The ISSN is the world's leading academic organization dedicated to the science of sports nutrition and supplements. Its not making sense to us., Massive sports complexes are latest front in war for visitors, dollars. Bringing together the industry with science can only result in better products," said Dr. Jose Antonio, CEO and co-founder of the ISSN. For more information, visit www.sheridancp.com. Honda Goldwing, Valkyrie , VTX , and Yamaha Star Motorcycles a WebProducts; Lexis Law360 In-Depth; Law360 Updates; Law360 Podcasts; Rankings; Regional Powerhouses; Law360's MVPs; Glass Ceiling Report; Law360 400; Diversity 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. >> The transaction closed on Feb. 17, 2016. If Tara or her directors and coaches wanted to run camps, they could have that profit line or moneys we usually spent to hire [outside companies]. Europa offers approximately 7,000 products representing 280 of the industry's leading brands. Youre viewing 3 of 9 executive team members. That is what the lawyers are paid to figure out, said Michael Gassner, a Bend resident who has one child playing for the Timbers and another for Apex. Calendar, Author In Michigan, an employee of a Flint-area wrestling club set the organization back after being accused of stealing more than $20,000. Deloitte Corporate Finance LLC Advises Europa Sports Products, Inc., in its merger with Lone Star Distribution, a portfolio company of Sheridan Capital Partners 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. WebIn the bankruptcy filing, the retailer said it anticipates closing all of its stores by June 30. 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. The tension is constantly coming up in conversation, but the Wheeler family has focused on Ethans future. Distributor of nutritional and sports supplements, sports drinks and accessories intended for mass market retailers, gyms, box owners, health food stores and specialty supplement retailers. 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. Europa will look to the ISSN for the latest scientific research in the category to insure that its customers get the very best products. >> 0000005315 00000 n The club is an affiliate under the Portland Timbers Major League Soccer team and the Portland Thorns National Womens Soccer League team. For more information, visit www.investmentbanking.deloitte.com. 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. When typing in this field, a list of search results will appear and be automatically updated as you type. 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. WebEuropa Sports Products Overview Work Here? 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. 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. 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. By clicking Sign up, you agree to receive marketing emails from Insider Effort there is terrible and it is like pulling teeth to get promoted when it is earned. /Outlines 65 0 R Investment banking or other services that would require registration as a broker-dealer with the SEC and membership in FINRA would be provided exclusively by DCF. Bilanskis initial contract which ran for one year included profits for running camps for the Timbers, said Shore, who left the board before Bilanski was promoted to executive director. /PDFDocEncoding 69 0 R 2015-2015. Theres one common theme in all of these cases, he said. We are all screwed as there is evidence of any file deletion or transfer. /ABCpdf 6109 Selling Adulterated Weight Loss Supplements, Buyers Say, Nutrex, Supplement Co. Strike Deal In False Ad Suit. About Deloitte Corporate Finance LLC Wayne Price kept a close eye on the action, taking a few of the 20 or so calls he receives each day as the new director of the Timbers. 0000020518 00000 n I think its really shattered a lot of longtime parental relationships. 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. Significant legal events involving law firms, companies, industries, and government agencies. Cision Distribution 888-776-0942 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. The treasurer, David W. Wells, pleaded guilty to charges of theft in 2018 and received probation. 0000004943 00000 n Environmental, Social and Governance (ESG), HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American, said Lorin DeMordaunt, managing director and consumer and retail group lead, Deloitte Corporate Finance LLC, http://photos.prnewswire.com/prnh/20120803/MM52028LOGO-a, Deloitte's Women @ Work report reveals signs of progress, but much work remains to improve women's experiences in the workplace, Deloitte Named a Leader in Worldwide Hybrid IT Consulting and Integration Services by the IDC MarketScape. The number of bankruptcy declarations increased during all four quarters of 2022. Directory, Extended Site For more information visit www.europasports.com. 0000001472 00000 n But I also will not give them full admin access for a long long time.. Please see our Privacy Policy. "I'm pleased and honored to have Europa Sports and CEO Eric Hillman as part of the ISSN community. For more information, visit www.investmentbanking.deloitte.com. Certain services may not be available to attest clients under the rules and regulations of public accounting. 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. 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). 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.
Paul From College Hill South Beach,
Confession Times Columbus, Ohio,
Rap Concerts In Chicago This Weekend,
Royal Atlantic Montauk For Sale,
Nfl Players From Fort Worth Texas,
Articles E