United Sports Brands (USB), the parent company of team sports brands such as Shock Doctor, McDavid and Cutters, along with active lifestyle brands Nathan, Pearl Izumi and Glukos, was recently acquired from Bregal Partners by Norwest Equity Partners (NEP). The transaction closed on November 20.

NEP had previously acquired Shock Doctor back in 2008 and added as a part of its consumer products portfolio. After Shock Doctor merged with Cutter Gloves in 2012 NEP sold the company to Bregal Partners in 2014, which became USB after expanding the brand portfolio through acquisitions that included McDavid and Nathan Sports in 2015, Glukos Energy in 2020 and Pearl Izumi in 2022.

Former Shock Doctor CEO Tony Armand joined NEP as a partner in 2018 and will again be involved with the recently acquired company.

“On behalf of the entire NEP team, we are thrilled to partner with USB again,” Armand said in a statement. “USB has a rich history of success with a hallmark set of brands for athletes across all levels. Continued growth for the company will be driven by new product development, exceptional channel partnerships, and a relentless focus on the athlete.”

In addition to USB, NEP’s holdings include Wahoo Fitness, Pure Archery, Pelican Products and Michaels of Oregon.

“We are excited to add another sporting goods and active lifestyle platform to the NEP family of portfolio companies. NEP is thrilled to have the opportunity to partner again with USB and create long-term value for all stakeholders,” added Adam Garcia Eveloff, NEP managing director.