Started as a provider of outerwear for rowers 20 years ago, Philadelphia’s Boathouse Sports Ltd. has won a piece of business that it has coveted for years.
As of Oct. 1, the privately held company will become the exclusive apparel supplier and outfitter for USRowing, the governing body for the sport of rowing. It also assembles the U.S. team for the Olympic Games.
Boathouse founder John Strotbeck is a two-time Olympic rower from the 1980s. After he’d returned from the 1988 Olympic Games in Seoul, he stayed close to the sport by custom manufacturing rowing jackets and other athletic apparel.
Boathouse now makes team uniforms for nine sports in its Philadelphia factory, but it had never been USRowing’s apparel supplier.
Glenn Merry, the current CEO of USRowing, said in a statement that he still had his Boathouse jacket from his days as a college rower.
The new agreement is four years. Financial terms were not disclosed. Boathouse wrested the business away from Nike Inc., which had been USRowing’s exclusive supplier for the last eight years.
Off and On
One deal for Encorium Group Inc.’s U.S. clinical research organization unit is dead, but the Wayne company says another is brewing.
While Encorium never identified the company involved in the original deal, it said yesterday that Pierrel SpA, of Italy, now wants to buy the U.S. business in a transaction valued at $1.35 million.
Once again, the two sides have only a non-binding letter of intent.
The money-losing Encorium last week announced that it had decided to sell its U.S. and European operations.
This is not a complex problem and, in fact, it is not that different from when we were all in high school and everyone sought out the teachers who were known as ‘easy graders.’
- Robert G. Dobilas, president and CEO of Horsham’s Realpoint L.L.C., on problems with the business models of the biggest credit rating agencies, from prepared testimony he is scheduled to offer at a Congressional hearing today.