Private Equity Firm Acquires Youth Hockey Leagues and Rinks

Black Bear Sports Group owns the Atlantic Hockey Federation, several other youth hockey leagues, and many rinks where teams practice and play. The company is backed by the private-equity firm Blackstreet Capital Holdings. The Atlantic Hockey Federation organizes elite teams from Connecticut and other states as far west as Arizona.

During a five-month, 60-game season, teams travel across the East Coast on weekends.

Bear installed cameras in each rink that feed footage into a subscription service called Black Bear TV. Parents pay as much as $37 a month to watch games remotely. A premium tier is required to share video highlights with relatives.

Players are reshuffled each year so the strongest athletes move to the most competitive teams. Many participants no longer play with the same group of children from one season to the next. The league maintains updated standings and individual statistical leader pages on its website.

For most of the past century, youth sports were run by local park departments, parent-led leagues, and nonprofit organizations. Dues supported league operations rather than investor returns. Local businesses sometimes contributed small sponsorship amounts.

Black Bear is one of several private-equity-backed companies that have purchased youth sports leagues and related services. Varsity Brands, owned by KKR, holds a large position in youth competitive cheerleading.