MEDINA, Ohio, November 14. RICHEY Smith, President of Richey Industries headquartered in Medina, Ohio, has announced the sale of its Competitor Swim Products? Division to Brad Underwood, a sports products industry professional.
The sale, completed on November 5, 2012, will separate the division from Richey Industries, which will continue to manufacture and distribute the Great American WoodiesTM line of casual furniture. "I'm excited to hand the reins of my company to someone from within the sports world. Brad Underwood has a stellar reputation and will continue our focus on quality products and customer service. Our staff, customers and the swim industry will all benefit from his commitment," Smith stated.
The new owner of the company, Brad Underwood, brings nearly 20 years of experience in management, product development and sales in the sporting products industry. During the past 10 years, he served as president of a world leader and Olympic/NCAA supplier of volleyball equipment, growing the company to $6.5 million in annual sales. He brings the same philosophy of quality products, superior service and industry support to Competitor Swim Products?.
"I'm excited not only by the opportunity to market a great product, but also to leverage my years of management experience as I personally invest in the success of a business that has a tremendous reputation. I am excited to work with the Competitor Team as we build on a well established brand," said Underwood.
Competitor Swim Products? is a leader in the production of racing lane makers for competitive swim competitions around the world. It established itself as a leader in the competitive swim industry in 1960 with the introduction of the Non-Turb? Racing Lane, and with the later development of the Competitor Racing Lane. Today, Competitor is internationally recognized as the premier provider of quality competitive swim products.
It was most recently the provider of racing lanes for the 2012 London Olympic games, the 2008 Beijing Games, and seven other previous Olympic competitions. Competitor Swim Products? racing lanes are molded and assembled using U.S.-made components and sold through distributors, licensees and dealers throughout the world. The Competitor Swim Products line also includes store lane reels, pace clocks, back stroke flags, and the Original Swedish goggle.
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