Halifax’s Goalline Bought by Blue Star Sports
by Peter Moreira | Entrevestor
“We set out to find the best and brightest technology companies in youth sports so that we could create and offer our customers the most advanced customer-centric solution in the market,” said Blue Star Founder and CEO Rob Wechsler in a statement. “Adding Goalline to the Blue Star Sports portfolio accomplishes that.”
The companies indicated that Blue Star will continue to grow the operation and help introduce the Goalline product to new customers – which can happen given that Blue Star has millions of users.
The most important aspect of the deal has to be the capital backing the merged group. While Jones is the best known investor as the owner of the high-profile Cowboys, the backing by Bain and Providence brings even greater firepower. Bain Capital has US$75 billion under management, while Providence has US$45 billion under management. And these are private equity funds, not VC firms, so they tend to take a longer view of developing their portfolio companies.
Worldpay is a portfolio company of Bain Capital that provides single card and non-card electronic payment processing services to businesses.