JACKSONVILLE, Fla., March 8, 2023 /PRNewswire/ — Heritage Capital Group, Inc. (“Heritage”), an investment banking and financial advisory firm serving middle-market and emerging growth companies in the U.S. and worldwide, is pleased to announce that its client, Athletic Recovery Zone (“ARZ”), has been acquired by Dragon Seats.
Athletic Recovery Zone was founded in 2010 by commercial and industrial HVAC specialists Brian Cothren and Billy Quillen to create modular climate control bench systems. The concept was born out of a collaboration with Jacksonville Jaguars athletic trainers, who were searching for a cooling solution for players enduring Florida’s hot, humid conditions. Today, the company builds and rents patented temperature-controlled systems primarily to the athletics, entertainment, and events industries. The cooling system reduces heat-related injuries and reduces core body temperatures quickly for athletes and event spectators. The system also converts to a heating system when weather conditions turn frigid.
Based in Cleveland, Ohio, Bourne Creations Inc., dba Dragon Seats, provides climate-controlled benches and sideline solutions to the majority of NFL member clubs, dozens of Power 5 college football programs, baseball dugouts, and lifestyle spaces. The company has a 25-year track record of maximizing safety, comfort, and performance for athletes in all weather conditions.
Bill Prescott of Heritage served as the exclusive financial advisor and intermediary to Athletic Recovery Zone. The terms of the transaction were not disclosed.
Brian Cothren commented, “Bill Prescott is highly regarded by Athletic Recovery Zone and its owners. We first encountered Bill Prescott before ARZ was even established when he was still with the Jacksonville Jaguars – who also was ARZ’s very first contracted customer. He was a contributing factor to our success even back then, long before ARZ was known in the football industry. It has been a great pleasure working with him and his team at Heritage Capital Group during all the negotiations and final sale of ARZ to Dragon Seats. He was instrumental in the success of the sale.”
Heritage Capital Group provides objective advice to private companies in the areas of mergers, acquisitions and divestitures, business valuations, debt and equity capital raises, corporate restructurings, and financial and strategic advisory services focused on enhancing the value of business enterprises. Heritage Capital Group is a FINRA registered broker-dealer, and a member of Oaklins, the world’s most experienced mid-market M&A advisor, with 850 professionals globally and dedicated industry teams in 45 countries worldwide.
SOURCE Heritage Capital Group