via: Inside Lacrosse
Key Takeaways
- True Lacrosse partnered with private equity firm TZP Group to form True Sports Group and expand beyond lacrosse into additional youth sports
- The organization operates 700+ teams across 23 states and has helped over 1,000 athletes reach college lacrosse programs
- Founders Jake Deane and Mike Gabel, who started the company in 2008 in Chicago, retain significant ownership stakes in the restructured entity
- TZP Group manages approximately $2 billion across its investment funds, focusing on control and growth equity in business services and consumer companies
- The partnership aims to support both organic growth and acquisitions while maintaining True’s focus on full-time coaching staff and player development
Building from Grassroots Origins
True Lacrosse began in 2008 when former professional lacrosse players Jake Deane and Mike Gabel launched a youth training program in Chicago. The founders self-funded early growth, initially operating from a one-bedroom apartment and driving house-to-house for private lessons.
The organization has since grown into one of the largest youth lacrosse club operators in the United States. True Lacrosse currently fields more than 700 teams across 23 states and maintains a full-time staff focused on athletic development and college placement. According to the company, over 1,000 athletes who trained with True have gone on to play college lacrosse.
Private Equity Investment Structure
TZP Group, a New York-based multi-strategy investment firm founded in 2007, will partner with True Lacrosse to form True Sports Group. TZP manages approximately $2 billion across its family of funds and typically invests in closely held, private companies where founders retain significant equity stakes.
Jake Deane and Mike Gabel will remain significant shareholders in True Sports Group. Dan Forsyth continues as CEO of the organization.
“What stood out to us most was their culture and we believe our companies will work seamlessly together,” said Jake Deane, Co-Founder of True Sports. “This partnership creates an accelerated opportunity for us to invest in new talent and partner with entrepreneurs who share our core values.”
Expansion into Additional Sports
True Sports Group plans to apply True Lacrosse’s training model to other youth sports verticals and new geographic markets. The partnership will provide capital for both organic expansion and potential acquisitions of other youth sports organizations.
Mike Gabel, Co-Founder of True Sports, stated that TZP’s respect for the existing business structure and commitment to supporting both organic and inorganic growth influenced the partnership decision.
The organization emphasizes its “sweat equity” model, which provides training and coaching across all age groups and skill levels. True Sports maintains that it employs full-time staff dedicated to athletic development and guiding young athletes toward their goals.
Strategic Context for Youth Sports Investments
The True Lacrosse partnership with TZP Group represents the latest private equity investment in youth club sports and event organizations. The youth sports industry has attracted increasing institutional capital over the past decade, with investors targeting organizations that operate multi-location club programs or control event infrastructure.
True Sports Group will serve as TZP’s platform for building a youth sports education and development business. The company indicated it will prioritize consistent training standards across locations and provide support resources to families and athletes.
Dan Forsyth, CEO of True Sports, noted the partnership will create career development opportunities for staff as the organization expands nationally.
Looking Ahead
True Sports Group enters a competitive landscape where private equity-backed consolidation has become common across multiple youth sports categories. The organization’s expansion strategy will test whether its lacrosse-focused training model can successfully transfer to other sports while maintaining the operational standards that supported its growth in the lacrosse market.
The partnership structure, which allows founders to retain significant ownership, differs from full buyout transactions and suggests both parties expect multi-year growth before a potential exit event.
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