Adam Blumenfeld’s career in sports was perhaps preordained.
In the 1970s, his father sold “tennis nets and dodgeballs” out of the back of his van in Memphis to schools and park departments, Blumenfeld says. Today, Blumenfeld is CEO of Varsity Brands, the KKR-owned parent of cheerleading business Varsity Spirit and athletic apparel and equipment supplier BSN Sports. Varsity Spirit runs cheerleading and dance competitions, camps, and clinics, and provides apparel and training to athletes, coaches, and teams.
Blumenfeld has dealt with his share of controversy, including multiple lawsuits alleging that Varsity holds a monopoly over cheerleading events, and others claiming it failed to prevent the sexual abuse of athletes by cheer coaches. He has also overseen significant business expansion, from BSN’s April acquisition of a company that sells soccer and lacrosse uniforms and gear to the launch of a pro cheerleading league, which in March completed its debut season.
Blumenfeld recently sat down with Front Office Sports to talk about his experience with major private equity owners, the legal controversies, and more.
Front Office Sports: Varsity Brands has had multiple private equity owners, including current owner KKR and past owners Bain Capital and Charlesbank Capital Partners. There’s a public perception that private equity is bad for society. As someone who has lived under private equity ownership for years, what is your take?
