All-Star Does Jeff Webb Still Own Varsity?

[DonePaying4Cheer]

While doing research on some stock prices, I came across this article. It states that Varsity has been acquired by another company!

Is this old news? (I ran a search and didn't see any reference to it in other forums) Am I reading incorrectly? If this is truth, what are the possible implications of this new wrinkle? (industry insiders/old-timers?)

Varsity Brands Wins Big in Battle Between Alabama, Clemson Cheerleaders - TheStreet

 

[Official OWECheer]

Interesting. I haven't heard about Jeff selling it yet.

 

[DonePaying4Cheer]

The article says it was acquired by Capital Partners back in 2014. Can anyone confirm or deny? The Street is usually a reputable Wall Street e-publication. Strange...

 

[AScheer]

The article says it was acquired by Capital Partners back in 2014. Can anyone confirm or deny? The Street is usually a reputable Wall Street e-publication. Strange...

Yes, true. I remember a thread about it back then. I'll see if I can dig it up. I think he still runs it, but I don't claim to know the details.

ETA: found it... November 2014 - Interesting Agreement | Fierce Board - The Voice Of Cheer

 

[Ally13]

The article says it was acquired by Capital Partners back in 2014. Can anyone confirm or deny? The Street is usually a reputable Wall Street e-publication. Strange...

Charlesbank Capital Partners Completes Acquisition of Varsity Brands | News | Charlesbank

Varsity Brands | Portfolio | Charlesbank

Varsity Brands is listed as part of Charlesbank's portfolio so I guess they were bought out, but Jeff Webb is still the CEO.

 

[DonePaying4Cheer]

Charlesbank Capital Partners Completes Acquisition of Varsity Brands | News | Charlesbank

Varsity Brands | Portfolio | Charlesbank

Varsity Brands is listed as part of Charlesbank's portfolio so I guess they were bought out, but Jeff Webb is still the CEO.

This infusion of capital has probably enabled them to purchase Cheersport and Jambrands. Their buying power is practically unlimited now! In the old thread, folks were concerned about uniform prices. The acquisition was a blip on the radar. But, fueled with Charlesbank's money, Varsity can own anything in the cheer world. Think about that...

 

[AScheer]

This infusion of capital has probably enabled them to purchase Cheersport and Jambrands. Their buying power is practically unlimited now! In the old thread, folks were concerned about uniform prices. The acquisition was a blip on the radar. But, fueled with Charlesbank's money, Varsity can own anything in the cheer world. Think about that...

Varsity bought (merged?) with Cheersport in 2012. The Charlesbank thing happened in 2014. Those two were unrelated. I imagine though that the backing did lead to the purchase (merge?) with Jam and possibly the pressure put on Jam to give up.

 

[Steppa02]

Jeff Webb is no longer the CEO of Varsity Brands. Matthew Rubel is the new CEO, Jeff is Chairman of the Board.
Varsity Brands Names New CEO » CheerDaily.com

 

[AScheer]

Jeff Webb is no longer the CEO of Varsity Brands. Matthew Rubel is the new CEO, Jeff is Chairman of the Board.
Varsity Brands Names New CEO » CheerDaily.com

Interesting. I can't help but wonder if this was Jeff Webb's choice or not. He is getting older, maybe he wants to step back a little. Maybe the partners he sold to felt he needed to be replaced?

Either way, I don't love that the new CEO of cheerleading (because that's what varsity claims to be) comes from the fashion industry. He seems very qualified to be the CEO of a large corporation with the experience they listed, but does he know anything about cheerleading? Events, gyms, what equipment is needed, the history of our sport? That worries me a little if not!

 

[DonePaying4Cheer]

Varsity bought (merged?) with Cheersport in 2012. The Charlesbank thing happened in 2014. Those two were unrelated. I imagine though that the backing did lead to the purchase (merge?) with Jam and possibly the pressure put on Jam to give up.

I was iffy on my timing with the CS thing. Wow 2012... Time goes by so quickly.

Wonder what Varsity's next move will be...

 

[AScheer]

I was iffy on my timing with the CS thing. Wow 2012... Time goes by so quickly.

Wonder what Varsity's next move will be...

I had to look it up. All the years seem to run together! I thought it was before, but googled to make sure.

 

[Official OWECheer]

Interesting. I can't help but wonder if this was Jeff Webb's choice or not. He is getting older, maybe he wants to step back a little. Maybe the partners he sold to felt he needed to be replaced?

Either way, I don't love that the new CEO of cheerleading (because that's what varsity claims to be) comes from the fashion industry. He seems very qualified to be the CEO of a large corporation with the experience they listed, but does he know anything about cheerleading? Events, gyms, what equipment is needed, the history of our sport? That worries me a little if not!

That's what I'm worried about.

 

[Official OWECheer]

I was iffy on my timing with the CS thing. Wow 2012... Time goes by so quickly.

Wonder what Varsity's next move will be...

Buying our souls. LOL.

 

[catlady]

@AScheer Jeff Webb is 65 so, it's very possible he wanted to take a seat on the board at this point. Matthew Rubel has retail background but, he also has a background in finding new investments. I'm going to take a stab in the dark and say the Charlesbank Capital Partners acquisition took place around the time Varsity announced they were expanding overseas. They would need the additional capital and international legal. It appears Varsity Brands is working in collaboration with Elite Brands in Europe.

About us | ELITE Brands GmbH
WAVES CHEERTEAM
Varsity Brands Europe GmbH

 

[Ashley]

Interesting. I can't help but wonder if this was Jeff Webb's choice or not. He is getting older, maybe he wants to step back a little. Maybe the partners he sold to felt he needed to be replaced?

Either way, I don't love that the new CEO of cheerleading (because that's what varsity claims to be) comes from the fashion industry. He seems very qualified to be the CEO of a large corporation with the experience they listed, but does he know anything about cheerleading? Events, gyms, what equipment is needed, the history of our sport? That worries me a little if not!

Varsity is so much more than cheerleading. Varsity Spirit is cheerleading.

But don't forget that Varsity also includes Herff Jones (who does yearsbooks and class rings if I remember correctly) and BSN Sports.

http://www.varsity.com/uploads/editor/files/PDFS/Varsity/rebranding-release-6-3-2014.pdf