Investment Bankers LLC (“Intrepid”) announced today the
recapitalization of Airsoft Zone Corporation (“Airsoft Megastore”) with
JAYTS, LLC (“JAYTS”).
Airsoft Megastore, located in Irwindale, California, is one of the
largest and fastest-growing online airsoft retailers in the nation
through its website www.airsoftmegastore.com.
The company, founded by entrepreneur Mike Zhang and his family in 2004,
retails over 4,000 SKUs including recreational airsoft guns, BB
ammunition, accessories and tactical gear. Mike Zhang has been the
driving force behind the company’s vision and business model to “Bring
Airsoft to the MassesTM” by offering an industry leading
product selection, value proposition and customer experience that makes
the sport of airsoft both accessible and affordable to all players. In
October of 2012, Empact 100 recognized Airsoft Megastore, during a
ceremony held at the White House in Washington, D.C., as one of the “Top
100 Companies Started by Young Entrepreneurs” in the U.S.
JAYTS is an investment vehicle formed by Jay Snider for the purpose of
consummating the recapitalization of Airsoft Megastore. Jay Snider is a
lifelong entrepreneur and seasoned business executive with vast
experience creating, managing and growing a diverse group of businesses.
Most recently, Mr. Snider founded and served as Managing Partner of
Snider Capital, a venture capital firm focused on opportunities in
sports and recreation. Mr. Snider also served for 11 years as President
of the Philadelphia Flyers and for seven years as President of Spectacor
(now known as Comcast-Spectacor). Previously, Mr. Snider founded and
grew SpectaGuard into the dominant provider of closely supervised,
highly trained and motivated security guard personnel.
“As an entrepreneur, I identified with Jay’s tenacity and ability to
build and manage fast-growing businesses,” said Mike Zhang, Airsoft
Megastore’s Founder and CEO. “When considering partners for this next
step in our company’s evolution, it was crucial for us to select a
partner who understands the opportunities and challenges we will face as
a rapidly growing business and can help us expand our position as a
category leader in the sector. The team at Intrepid understood our
objectives and was able to expertly structure a transaction that
perfectly suited our needs.”
“Mike and Jay will make a great team,” said Ed Bagdasarian, President
and Managing Director of Intrepid. “Mike’s knowledge of the airsoft
sector and the ecommerce industry coupled with Jay’s experience in
building successful entrepreneurial businesses will allow Airsoft
Megastore to widen its leadership position in the marketplace. I look
forward to watching with great interest the company’s continued growth
under the joint leadership of these two proven entrepreneurs.”
Senior financing for the transaction was provided by Pacific Western
Bank. Rutan & Tucker, LLP served as legal advisors to Airsoft Megastore.
HighBank Advisors and Stradling Yocca Carlson & Rauth, P.C. served as
financial and legal advisors, respectively, to JAYTS.
The Intrepid transaction team included Ed Bagdasarian, Steve Davis, Adam
Abramowitz, Brian Levin and Meghan Stenger.
About Intrepid Investment Bankers LLC
Intrepid Investment Bankers LLC, based in Los Angeles, California, is a
mergers and acquisitions and corporate finance advisory firm focused on
the middle-market. Intrepid was founded in 2010 by the former principals
of Barrington Associates, a firm that grew to become a leading national
middle market M&A advisor before its acquisition by Wells Fargo in 2006.
Intrepid's services include M&A advisory, equity and debt capital
raising and providing strategic advice in complex securities
transactions. The firm focuses on the middle market corporate finance
needs of entrepreneur and family-owned businesses, private equity
sponsors and major corporations. Collectively, the senior team at
Intrepid brings over 100 years of mergers and acquisitions advisory
experience and has advised on over 250 transactions spanning a broad
range of industries, including consumer products and services,
industrial manufacturing, healthcare products and services, building
products, business services and retail. Intrepid Investment Bankers LLC
augments its international capabilities by partnering with M&A
International Inc., an exclusive global alliance of independent
middle-market mergers and acquisitions advisory firms. www.intrepidib.com