Rimrock Capital Creates Formidable Partnership Between Prep Baseball Report and LakePoint Sports
Investment aligns nation's largest baseball scouting service with premier sports travel destination to establish industry-changing platform
EMERSON, Ga, December 12, 2018 (Newswire.com) - Rimrock Capital Management announced that it is making a sizable investment in Prep Baseball Report, which operates hundreds of amateur baseball events in 41 states and Canada and runs the country's largest and most respected independent baseball scouting service. As part of the investment, PBR and Rimrock-backed LakePoint Sports are entering into a long-term partnership to operate the baseball complex at LakePoint, to create an unrivaled youth sports experience. As a result of the expertise and significant capital brought together by the two parties, PBR further enhances its leading national position in amateur baseball while LakePoint cements its spot as the pre-eminent destination for youth travel sports.
"We are extremely excited about combining the national reach and reputation of Prep Baseball Report with the phenomenal baseball assets at LakePoint," said Jeff Bemis of Rimrock. "We've always believed in the enormous potential of LakePoint and by joining forces with PBR, we're establishing an industry-changing platform by integrating sports operations with real estate, capital and strategic partnerships. We'll have a deeper understanding of the needs of athletes, coaches and scouts and will have a fully integrated operation to create the best overall guest experience."
PBR is rapidly growing its brand and the Rimrock/LakePoint partnership gives PBR a flagship presence at the finest baseball facility in the country. PBR will kick off its inaugural season at LakePoint in Spring 2019.
"Since our inception, we've always maintained a singular focus of providing players, teams, parents, college coaches and pro scouts a high-level, first-class baseball experience, which in turn creates greater opportunities for athletes to advance to the next level," said Prep Baseball Report President Sean Duncan. "LakePoint's amenity-rich baseball complex mirrors our standards for the baseball experiences. LakePoint is already the premier baseball facility in the country, but their vision for what the entire campus will become personally aligns with my vision of taking the Prep Baseball Report brand to a new level."
LakePoint hosts more than a million visitors a year to its nationally recognized sports complex. In 2018, LakePoint generated nearly $100 million in economic activity for the region.
LakePoint's convenient location just outside Atlanta gives players and families a variety of entertainment options. LakePoint's proximity to Hartsfield-Jackson International Airport ensures that more than 80 percent of the country is less than a two-hour flight away.
This partnership and investment announcement is the first major statement following the recent confirmation of LakePoint's plan of reorganization. With a strong, all equity balance sheet, and backed by Rimrock, LakePoint is now poised for accelerated growth in 2019.
"We saw a synergistic and timely opportunity for LakePoint to partner with PBR. This partnership aligns perfectly with our vision and enables LakePoint to realize sustainable, long-term financial success," said Dan Berman with GlassRatner, an adviser to Rimrock.
About Rimrock Capital
Rimrock Capital is an investment adviser registered with the Securities and Exchange Commission with more than $4 billion of assets under management. The majority of Rimrock's assets are from institutional investors, including pension funds and endowments.
About LakePoint Sporting Community
LakePoint Sporting Community is the premier sports vacation destination, located in Emerson, Ga., at Lake Allatoona, just outside of Atlanta. The 1,300-acre destination opened in 2014. Facilities include eight Major League-sized baseball fields, three multiuse fields for soccer, lacrosse and football, 12 basketball courts, 24 indoor volleyball courts, a 170,000-square-foot indoor sports center, hotels, restaurants and entertainment venues. Our mission is to be the premier sports vacation destination that delivers quality, fun and convenient experiences for athletes, families and community. For more information, visit https://www.lakepointsports.com.
About Prep Baseball Report
Prep Baseball Report operates in 41 states and Canada, and runs hundreds of stratified levels of events across the country. With more than 150 scouts, Prep Baseball Report has the nation's largest baseball scouting infrastructure across all levels of amateur baseball, and has evolved into the most respected independent scouting service and event operator since its inception in 2005. Prep Baseball Report is the No. 1 resource for amateur baseball in every state of operation through its variety of events, boots-on-the-ground scouting staff, daily coverage, and multimedia platforms. For more information, visit https://www.prepbaseballreport.com.
Taylor McKenzie, Jackson Spalding
Bryan Harris, Jackson Spalding
Source: Rimrock Capital Management