Fairfax Financial acquires controlling stake in Peak Achievement Athletics

Fairfax Financial Holdings has acquired an equity interest in Bauer Hockey's parent company Peak Achievement Athletics Inc. from Sagard Holdings Inc., according to Jameson Berkow of the GLOBE & MAIL. Fairfax already owns part of Peak, but buying out Sagard’s position will “give Fairfax direct control of the company.” Fairfax and Sagard joined forces in 2016 to acquire Bauer’s parent company out of bankruptcy for $575M. While financial terms of the transaction were not disclosed, it was reported in August that Fairfax and Sagard “were looking to sell Bauer for roughly” $800M. Bauer has controlled more than half of the North American hockey equipment market for years, with some estimates ranging as high as 60%, and the vast majority of NHL players use Bauer skates (GLOBE & MAIL, 9/30).