europa sports products bankruptcies

0000004175 00000 n >> Deloitte Corporate Finance LLC, an SEC registered broker-dealer and member of FINRA and SIPC, is an indirect wholly-owned subsidiary of Deloitte Financial Advisory Services LLP and affiliate of Deloitte Transactions and Business Analytics LLP. In Wisconsin, a former treasurer was charged with embezzling more than $84,000 from a basketball club over a seven-year span, allegedly spending more than $73,000 on retail items, meals at restaurants, airline tickets and mobile phone bills. Europa Sports Products Cision Distribution 888-776-0942 Price also has been forced to navigate the drama of the lawsuits; while the board has filled him in on the proceedings, he rarely brings the case up. /Pages 66 0 R Bilanski and several former Timbers staff members are also accused in a lawsuit of stealing the clubs trade secrets on their way out the door, according to court documents, altering records and transferring confidential personal information of thousands of players, including contact information, addresses and, in some cases, Social Security numbers while forming their own rival club in town. from 8 AM - 9 PM ET. USA Rugby. 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. 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. /E 105059 His father, Derrick, took over as team manager of the Timbers when most of the boys left last year, and after that first practice in which only five players took the field That was devastating, Derrick said the club was able to fill the roster with recruits from Bend and other nearby towns. Clubs across many sports, including soccer, basketball and volleyball, rake in hundreds of thousands of dollars per year from registration fees, fundraisers, private Certain services may not be available to attest clients under the rules and regulations of public accounting. The 25-year-old make-up mogul - who owns her own 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. Theres one common theme in all of these cases, he said. 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. Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries. When it comes to Europa Sports About Lone Star DistributionLone Star is a national specialty distributor of sports nutrition and fitness products. Significant legal events involving law firms, companies, industries, and government agencies. For more information, visit www.investmentbanking.deloitte.com. Our people and our culture make Deloitte a place where leaders thrive. >> 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.Europa Sports Products is an industry-leading distributor of nutritional and sports supplements, sports drinks and accessories to mass market retailers, gyms, health food stores, specialty supplement retailers, sporting goods stores and many other outlets. Europa Sports Products Dang. Sponsorship opportunities have already changed college athletics. /H [ 1719 306 ] Deloitte Corporate Finance LLC Advises Europa Sports Products, Their collective knowledge of the consumer industry and transactional experience in the nutritional supplements space were key to the process, said Jeff Compton, co-CEO of the newly combined company. << Europa Sports Products x. 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.". 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. Europa Sports Products, Inc 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. WebBusiness Profile Europa Sports Products Vitamins and Supplements Contact Information 11401 Granite St STE H Charlotte, NC 28273-6401 Visit Website (800) 447-4795 If [the Bend Timbers board doesnt] give up we will start a new club, take a crap ton of kids and bankrupt them, the former Timbers treasurer wrote in a text that was included in court filings. 0000003742 00000 n 0000064770 00000 n The company's product portfolio includes protein powders, nutrition bars, sports drinks, sports performance supplements, vitamins and weight loss supplements. /Encoding << WebEuropa Sports Products, Inc. Overview. /ABCpdf 6109 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. Additionally, This warehouse has a very good, positive flow to it. This communication is for informational purposes only and is not intended as an offer or solicitation for the purchase or sale of a security. WebEuropa Sports Products is located in North Carolina . 0000004743 00000 n 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. Kylie Jenner raises concerns about her family's "beauty standards" in a new episode of 'The Kardashians'. >> Honda Goldwing, Valkyrie , VTX , and Yamaha Star Motorcycles a Directory, Extended Site He was 34 when he was diagnosed with ALS. The transaction closed on Feb. 17, 2016. Bankruptcy: Bed Bath & Beyond expects to close all stores by 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. WebThey need to let go of the ones who take advantage and go through the motions or they will be bankrupt very soon. 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. EUROPA SPORTS PARTNERS LLC. Revenue, Growth As courts sort the truth, the ongoing case serves as a high-profile example of what many youth sports organizations must contend with. OSullivan took him and his father off an email list for tournaments, he said, and all but four of his teammates migrated to Apex. 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. Certain services may not be available to attest clients under the rules and regulations of public accounting. /Filter /FlateDecode Liverpool will take the chance to qualify for the Europa League as they look to squeeze everything out of a disappointing season, manager Juergen Klopp said ahead If she did indeed pocket the money God, thats so wrong on so many levels. In late August, days after Bilanski had been fired, the administrator allegedly realized that the Timbers Google Drive was recording a log of all activity. Town Sports International the parent company of New York Sports Clubs and Boston Sports Clubs, among a number of other fitness chains filed for Chapter 11 bankruptcy on September 14, citing pandemic-related difficulties. Europa Sports Products 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. trailer Law360 may contact you in your professional capacity with information about our other products, services and events that we believe may be of interest.Youll be able to update your communication preferences via the unsubscribe link provided within our communications.We take your privacy seriously. Very little interaction. Read more: The virtual at-home fitness boom is here to stay and will usher in a new era of exercising that will last long after the pandemic subsides, experts say. These are the seven fitness and sporting goods companies that have filed for bankruptcy so far in 2020. The lawsuit includes texts between Bilanski and Davin that mocked co-workers and also included vitriol for Hart, who served on the volunteer board for three years and whose 15-year-old son, Ethan Wheeler, is a rising star within the Timbers program. Certain services may not be available to attest clients under the rules and regulations of public accounting. Europa Sports Partners corporate office is located in 11401 Granite St, Charlotte, North Carolina, 28273, United States and has 297 employees. Theres got to be some corrective damage done for someone doing that stuff, especially because its kids.. Europa Sports Products Becomes a Professional Level Member 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. 's annual revenues are over $500 million (see exact revenue data) and has 100-500 employees. "The Deloitte Corporate Finance team was instrumental in helping us navigate a mutually exciting transaction with Lone Star and Sheridan Capital Partners. from 8 AM - 9 PM ET. I think the [board] has done a great job of shielding the people who are trying to rebuild. Robbie Duncan will serve as ESPs new Chief Executive Officer and Tony Todaro as its new Chief Financial and Administrative Officer. 0000005855 00000 n Prior engagement performance is no guarantee of future performance and may not be representative of the experience of other clients. Contact Who is Europa Sports Partners Headquarters 11401 Granite St, Charlotte, North Carolina, 28273, United States The tension is constantly coming up in conversation, but the Wheeler family has focused on Ethans future. With our significant experience providing investment banking services across key industries, we are able to offer our clients solutions that help them to achieve their strategic objectives. On a sun-soaked Saturday afternoon in September, hundreds of parents lined the sidelines to watch their kids play at the Timbers turf fields at Pine Nursery Park, a 159-acre complex lush with towering pines, sage and ponds. The ISSN is the world's leading academic organization dedicated to the science of sports nutrition and supplements. Public Relations /DA (/Helv 0 Tf 0 g ) All rights reserved. bankruptcies This partnership also offers increased exposure to scientific studies, and stronger networking opportunities with industry leaders. His transaction experience includes sell-side, b More. Calendar, Author The s--- that I can see on the google admin is crazy. >> After most of his team left for Apex, Ethan Wheeler began riding his bike every day to his school, Summit High, to practice. 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. Shelley PfaendlerPublic RelationsDeloitte+ 1 212 492 4484[emailprotected]. Board Memberships & Affiliations. In the past few months alone, reports of alleged financial misconduct and convictions of embezzlement have been reported across the country, underscoring a long-standing issue within the industry. 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. 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. Please visit europasports.com for additional detail. 24 Hour Fitness filed for Chapter 11 bankruptcy in June, announcing at the time that it would permanently shutter 130 of its gym locations in the US. Sometimes he plays video games online with his former teammates and they will tell him he should come play for Apex. By last fall, as Bilanski and the group of Timbers staffers and coaches were hit with the lawsuit, they peeled off to start Apex, drawing support from dozens of parents who believed they had been wronged by the Timbers board. From pre-workout to recovery, the science of sports nutrition has changed the game for athletes, trainers, and coaches. Its a function of the growth of the industry, Carrozza said. Even before the allegations of embezzlement came to light, the lawsuit contends, Bilanski and a group of Timbers employees and team managers embarked on a campaign to undermine the organization, which was born out of tension with the board and its president, Hart. About Europa Sports Products, Inc.Europa is a national specialty distributor of sports nutrition and fitness products, including protein powders, nutrition bars, sports drinks, sports performance supplements, vitamins, weight loss supplements, and meal replacements. Discover more about Europa Sports Partners. Based in Charlotte, NC, Europa Sports Products is recognized as an industry leader in the distribution of nutritional and sports supplements, sports drinks Brands listed failed to recover from temporary government-mandated closures to gyms and indoor fitness facilities earlier this year. Deloitte Corporate Finance LLC Advises Europa Sports Products, Inc., in its merger with Lone Star Distribution, a portfolio company of Sheridan Capital Partners DCF advises Europa Sports Products, Inc., in merger << Claim "If it were not for COVID-19 and its devastating effects, we would not be filing for Chapter 11," 24 Hour Fitness CEO Tony Ueber said in a statement. AFI PARTNERS FORMS EUROPA SPORTS PARTNERS 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. 0000004251 00000 n "The Europa and Lone Star teams have worked diligently to build companies that have established themselves as trusted resources within the health and wellness industry. WebGet David Hayes's email address (d*****@europasports.com) and phone number (704957.) at RocketReach. Morris, Mich.; and a soccer and lacrosse club Hanover, Pa. 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. A free inside look at company reviews and salaries posted anonymously by employees. << Deloitte Corporate Finance LLC provides strategic advisory services and M&A advice that help corporate, entrepreneurial, and private equity clients create and act upon opportunities for liquidity, growth, and long-term advantage. Europa is a national specialty distributor of sports nutrition and fitness products, including protein powders, nutrition bars, sports drinks, sports performance supplements, vitamins, weight loss supplements, and meal replacements. Investment banking products and services within the United States are offered exclusively through Deloitte Corporate Finance LLC. 0000003152 00000 n 0000000012 00000 n Deloitte Corporate Finance LLC, an SEC registered broker-dealer and member ofFINRA and SIPC, is an indirect wholly-owned subsidiary of Deloitte Financial Advisory Services LLP and affiliate of Deloitte Transactions and Business Analytics LLP. In addition to delivering leading-edge nutrition management to its' customers, Europa's Professional Level ISSN membership will lead to more informed teams and therefore customers in all segments and levels. startxref 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. In short order, the embezzlement allegations triggered a lawsuit that has divided a once-unified soccer community and launched investigations by the local district attorneys office and the states Justice Department. >> These 7 Fitness Companies Have Filed for Bankruptcy Law360 provides the intelligence you need to remain an expert and beat the competition. 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 ISSN is also recognized by many Universities as offering the latest, cutting edge and non-biased information about the scienceand application ofsports nutrition and supplements. The work is typical warehouse work, order pulling, packing etc. The nonprofit organization reported more than $1.1 million in revenue in 2019 alone, according to the most recent tax records available. WebEuropa Sports Products, Inc. distributes health and sports supplements. Europa Sports Partners - Overview, News & Competitors The Finley Group, Inc. v. Europa Sports Products LLC While lawyers for the Timbers contend that the embezzlement case has jeopardized the organizations status as a tax-exempt nonprofit, the club is still facing considerable debt to build new fields roughly $760,000, according to the clubs latest newsletter sent out to parents in September. /N 9 Its draining the club, said Andy Fecteau, a Bend physical therapist whose three children competed for the Timbers and whose family used to be close with Bilanski. Expectations were laid out in my interview so there aren't any surprises, it's not climate controlled but it's a stable, secure job. Bringing together the industry with science can only result in better products," said Dr. Jose Antonio, CEO and co-founder of the ISSN. The laptop was sent to a data forensics examiner in Portland. With our significant experience providing investment banking services across key industries, we are able to offer our clients solutions that help them to achieve their strategic objectives. Further, we are optimistic as we launch new products and build new relationships across both domestic and international markets.. For more information, visit www.investmentbanking.deloitte.com. The NBA's Phoenix Suns and WNBA's Phoenix Mercury announced a new television and streaming rights deal for their basketball games on Friday, over the Europa Sports Products | Better Business Bureau Profile 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. F--- these guys, he wrote in a text message cited in court records. For more information, visit www.sheridancp.com. Everyone is shocked when it happens because they trust who is handling the money.. Top editors give you the stories you want delivered right to your inbox each weekday. We try to force the issue and say hello, smile and say thank you for team dinners and such. I get so annoyed by that and just leave, he said. The material on this site may Dude, she texted to Bilanski, according to court records. Password (at least 8 characters required). Daily and real-time news and case alerts on organizations, industries, and customized search queries. /Root 72 0 R 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. 71 36 He wanted to prove that he wasnt making a mistake by staying with the Timbers. 0000005315 00000 n 0000008195 00000 n For more information, visit www.lonestardistribution.com. For more information, visit www.lonestardistribution.com. 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. Europa offers approximately 7,000 products representing 280 of the industry's leading brands. 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. For more information visit www.europasports.com. KeyBanc Capital Markets, City National Bank Arrange $225MM Energy Transition Debt Facility with Scale Microgrids, New York Community Bancorp Acquires $38B of Assets of Signature Bridge Bank from FDIC, Jefferies Arranges $130MM Term Loan for Danimer Scientific, CIFC Adds Kunz as Managing Director in Investor Solutions Group, Ares Commercial Finance Provides $31.2MM Credit Facility to Leading Manufacturer, Distributor of Home and Garden Equipment, Ares Management Closes $2.1B in Direct Lending Commitments in Q1, $23.5B in Last 12 Months, Oaktree Provides $250MM Term Loan Facility to Seres Therapeutics, Flux Power Renews $14MM Credit Facility with First Citizens Bank, 76% of Small Businesses Feel Well-Equipped to Survive a Recession, BofA Survey, Ocean Bank Provides $10MM Factoring Facility to Leading Specialty Repair Company, eCapital Healthcare Division Delivers Funding to Nine Healthcare Providers in Q1, First Citizens Bank Provides $16MM in Financing to FitLife Brands, Flatbay Funds $2.5MM Owner-Occupied CRE Bridge Loan for Serial Entrepreneur, Portage Point Bolsters Middle Market Investment Banking Practice with Addition of Waldman, Citizens Business Conditions Index Bounces Back in Q1, U.S. Census Bureau U.S. Department of Commerce, Full Report on Manufacturers' Shipments, Inventories and Orders - March 2022, What Asset-Based Lending Can Learn from AI in the Grocery Sector, Gibraltar Equipment Finance Built on a Solid Foundation and Ready to Roll, In Todays World, Many Companies are Taking a Hard Look at Their Liquidity, Events Menu options for Europa Sports Products Inc. Energy Drink Maker Says Monster Launched Smear Campaign, Co. 0000007643 00000 n In a deposition with attorneys for the Timbers, Bilanski invoked her Fifth Amendment right more than 340 times. Copyright 2012-2023 Bilanski and the other defendants in the case have sought a stay in the civil case. As part of the bankruptcy proceedings, the company said permanent closures are slated to affect only company-owned locations which comprise 10% of Gold Gym's 700 locations around the world and will not impact its franchises.

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