Rawlings Sporting Goods Draws Bids From Partners Group, Other Sponsors in Jefferies-Led Auction 

Rawlings Sporting Goods, a baseball equipment manufacturer backed by Seidler Equity Partners, recently collected check-in bids from sponsors, including Partners Group, according to sources.

Partners Group recently expanded in the sports sector with the acquisition of Sports Entertainment Group, an Amsterdam-based international sports talent agency.

St. Louis-based Rawlings generates approximately $175 million of EBITDA and is targeting a valuation in the $2 billion range, one source said. Jefferies is advising the company on the process, the sources said.

The potential acquisition of the 139-year old company is likely to be financed by banks, according to sources, with one noting that banks are in talks to provide debt financing that would lever Rawlings at between 5x and 5.5x.

As of June 30, Ares Capital Corp. held a portion of Rawlings Sporting Goods and its subsidiary Easton Diamond Sports’ term loan due November 2030, which is priced at SOFR+475 bps, according to Octus’ BDC Database.

The potential sale of Seidler’s majority stake emerged earlier this summer, with Bloomberg reporting in July that the sponsor was exploring a transaction that could value Rawlings at approximately $2 billion.

Seidler Equity Partners acquired Rawlings from Newell Brands in 2018, with Major League Baseball co-investing as a minority owner alongside the California-based private equity firm. At the time, Newell said it expected to generate approximately $395 million in gross proceeds from the divestiture.

The historic baseball equipment brand, founded in 1887, had approximately $330 million of net sales in 2017, according to the deal announcement.

Rawlings Sporting Goods is a specialty manufacturer with a focus on baseball and softball equipment, including gloves, balls and protective gear. The company is the official glove, baseball, helmet, face guard and base manufacturer for Major League Baseball.

According to one source, Rawlings is a category leader that has picked up additional market share in recent years from Marucci Sports, which has seen somewhat stagnant growth, according to Octus reporting in June. Marucci’s parent company, Nasdaq-listed Fox Factory, hired Bank of America to explore strategic alternatives for Marucci and other noncore assets in an effort to reduce debt and maximize profits, as reported.

Rawlings, on the other hand, has expanded via acquisitions under Seidler’s ownership, including its 2020 acquisition of Easton Diamond Sports. Existing shareholders of Easton’s parent company retained a minority interest in the combined business, according to the announcement.

Ares Commercial Finance provided a $100 million senior secured revolving credit facility to back the acquisition, according to a report.

More recently, Rawlings in 2025 acquired Tanner Tees.

Senior secured loans to back M&A in the broader consumer discretionary sector tightened to an average of SOFR+475 bps in the third quarter this year from SOFR+505 bps in the second quarter, according to Octus’ Private Credit Dashboard.

Recent transactions in the sports space include Providence Equity Partners’ buyout of founder Casey Wasserman’s 40% stake in The Team, a sports, entertainment and media company, for a reported $3.4 billion. In April, Octus reported that the company had collected initial bids from 15 prospective buyers and was targeting a valuation of roughly 18x EBITDA.

Partners Group declined to comment. Seidler Equity Partners, Rawlings Sporting Goods, Jefferies and Major League Baseball did not return requests for comment.