JB Capital, an alternative credit manager investing in market areas underserved by traditional banks, announces its strategic investment in Miami-based CROSSNET, a health and fitness company that invented the sport of the eponymous name.
Invented in 2017, CROSSNET is the world’s first four-square-volleyball-like net game. The game is used in over 100,000 homes and is sold in 3,500 retailers, including DICK’S, Sam’s Club, Academy Sports, and more.
"The focus on health, exercise and fitness is driving continued growth in the US sports equipment market,” said Jeremy Hill, Founder and Managing Partner of JB Capital. "We are thrilled about partnering with such exciting brand that has seen tremendous growth over the last few years.”
JB Capital's investment in CROSSNET is an endorsement of not only the continued growth in the health and fitness space, but is also a strong endorsement of the trio of co-founders leading the management team behind the company, as well as the concept of the sport itself.
“As technology continues to influence and control our lives, it has never been more important to disconnect, get outside, and to make memories with your friends,” said Chris Meade, Co-Founder and Chief Marketing Officer of CROSSNET. “COVID-19 has impacted the consumer’s mindset forever and living an active and healthy lifestyle is at the forefront of many consumers' minds.”
CROSSNET prides itself on being an all-inclusive sport that can be enjoyed by families and young adults, as well as the most competitive volleyball players on the planet. The net is height-adjustable for men’s, women’s and children’s volleyball heights and is now proudly the official backyard game of USA Volleyball & Canada Volleyball. The game can be played in a backyard, park, beach, and even in a swimming pool. The US sports equipment market reached $150 billion in 2022, and CROSSNET stands as a strong and viable company within the continually growing sector.
About JB Capital
JB Capital provides creative, tailored solutions through capital, strategy, and operational support to facilitate growth strategies for well-managed companies. JB Capital partners have more than four decades of combined real estate, capital markets, and investment banking experience. As a result, JB Capital offers a level of expertise, counsel, and resources often unavailable to smaller private companies. For more information, visit the website at www.jb-capital.com.
About CROSSNET
CROSSNET is the world’s first version of volleyball meets four-square. Whether it's indoor or outdoor, athleticism meets patience and skill in this competitive four-way volleyball game. CROSSNET is played in over 10,000 physical education classrooms, beloved in over 100,000 households, and distributed in 49 countries. For more information on the fastest-growing backyard game, visit the website at crossnetgame.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20221129005377/en/
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