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Press release from Marketwire

Bauer Performance Sports Completes Acquisition of Cascade Helmets and Announces the Closing of Common Share Public Offering

Friday, June 29, 2012

Bauer Performance Sports Completes Acquisition of Cascade Helmets and Announces the Closing of Common Share Public Offering09:22 EDT Friday, June 29, 2012TORONTO, ONTARIO--(Marketwire - June 29, 2012) -NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATESBauer Performance Sports Ltd. (TSX:BAU) ("BAUER") today announced that it has completed the acquisition of Cascade Helmets Holdings, Inc. ("Cascade"), a leading manufacturer and distributor of men's and youth lacrosse helmets in North America, from North Castle Partners, a private equity firm focused on health, wellness and active living, and certain affiliates (the "Cascade Acquisition"). BAUER entered into an agreement to acquire Cascade on June 13, 2012 for approximately US$64 million, payable in cash and subject to adjustment. The purchase price and related transaction expenses were funded through the issuance of approximately C$30 million of new equity and the balance in new borrowings, as further described below.Cascade is the leading designer, developer, manufacturer and marketer of lacrosse helmets and eyewear in North America, and is a leading and well-recognized brand in the broader lacrosse equipment industry. The Cascade Acquisition expands BAUER's presence in the lacrosse equipment industry, adding the industry's premier line of helmets to the Maverik family of sticks, heads, shafts and protective gear. The transaction also provides an attractive opportunity to leverage BAUER's commitment to product development and safety, realize attractive cross-selling opportunities, and achieve cost synergies. BAUER also announced today:The closing of the public offering of 3,691,500 common shares at a price of C$7.80 per share, including the exercise in full of the over-allotment option, for gross proceeds of C$28,793,700 (the "Public Offering"). The Public Offering was completed through a syndicate of underwriters led by RBC Capital Markets as bookrunner, co-led by Paradigm Capital Inc., and including National Bank Financial and Scotiabank. The closing of the concurrent private placement of the equivalent of 642,000 common shares at the same price as those sold under the Public Offering (the "Concurrent Private Placement"), for gross and net proceeds of C$5,007,600, which were purchased by funds advised or managed by Kohlberg Management VI, LLC, BAUER's majority shareholder. The closing of the amendments to its existing credit facilities (the "Amended Credit Facility") as described in BAUER's short form final prospectus dated June 22, 2012. For further information regarding the Cascade Acquisition, the Public Offering, the Concurrent Private Placement and the Amended Credit Facility, please see BAUER's final short form prospectus, which is available on SEDAR at www.sedar.com.The securities offered pursuant to the Public Offering have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registrations requirements of such Act. This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities in any jurisdiction.ABOUT BAUER PERFORMANCE SPORTS LTD.Bauer Performance Sports Ltd. (TSX:BAU) is a leading developer and manufacturer of ice hockey, roller hockey, and lacrosse equipment as well as related apparel. The company has the most recognized and strongest brand in the ice hockey equipment industry, and holds the top market share position in both ice and roller hockey. Its products are marketed under the Bauer Hockey, Mission Roller Hockey and Maverik Lacrosse brand names and are distributed by sales representatives and independent distributors throughout the world. Bauer Performance Sports is focused on building its leadership position and growing market share in all product categories through continued innovation at every level. For more information, visit www.bauerperformancesports.com.ABOUT CASCADE HELMETS HOLDINGS, INC.Cascade is the leading helmet brand in lacrosse. Cascade was founded in 1986 with a niche focus on designing and manufacturing innovative lacrosse headgear and has expanded into adjacent market segments including women's lacrosse and field hockey eyewear, and whitewater and rescue helmets. In 2009, Cascade partnered with former NHL player Mark Messier to introduce a new branded line of hockey helmets which shared much of the product technology utilized in Cascade's lacrosse helmets. FOR FURTHER INFORMATION PLEASE CONTACT: Bauer Performance Sports Ltd.Investor InquiriesAmir RosenthalChief Financial Officer603-610-5802investors@bauerperformancesports.comORBauer Performance Sports Ltd.Media InquiriesSteve JonesDirector, Global Marketing603-430-2111media@bauerperformancesports.comORKevin O'Connor / Ali MahdaviSpinnaker Capital Markets Inc.416-962-3300ko@spinnakercmi.com