October 1, 2026 – Matrix Capital Markets Group, a division of Citizens, is pleased to announce the sale of Gared Performance Sports Systems to Gerflor, a portfolio company of Cobepa. Gared was previously a portfolio company of Gen Cap America, a Nashville, Tennessee-based private investment firm.

Founded in 1922 and headquartered in Noblesville, Indiana, Gared has spent more than a century developing a leading position in the institutional sports equipment market. From its origins in striking bag platform manufacturing, the company has expanded into a comprehensive provider of basketball equipment, volleyball systems, divider curtains, wall padding and custom athletic facility solutions. Today, Gared serves a longstanding network of dealers and channel partners across North America, whose customers include schools, universities, municipalities, recreation facilities and other athletic venues.

Gared’s combination with Gerflor brings together two highly complementary providers serving athletic and recreation facilities. Gerflor’s global expertise in sports flooring and related surfaces, combined with Gared’s century-long history in athletic equipment and facility solutions, will enable the combined organization to offer customers a broader suite of products and solutions. Gared will continue to operate with its existing team and maintain the product quality, service and customer support that have underpinned its longstanding reputation in the market.

Matrix provided merger and acquisition advisory services to Gared, which included valuation advisory, managing a confidential, structured sale process, and negotiation of the transaction. The transaction was managed by William O’Flaherty, Managing Director & Head of Outdoor Recreation & Marine Investment Banking; Matt Oldhouser, CPA, Vice President; Hayden Daniel, Analyst; Bing Song Lin, Analyst; and David Shoulders, Managing Director.

Regarding Matrix’s services, Gared CEO Marcus Johnson noted, “The Matrix team ran an exhaustive process to identify the right partner for our business and delivered an exceptional outcome. They became intimately familiar with the drivers in our business and created tremendous value through their knowledge of our industry.”

“We were so pleased to have been selected by Gen Cap to represent Gared,” Mr. O’Flaherty commented. “Gared is one of the oldest and most respected names in the sports equipment market. Marcus and his senior leadership team have positioned the business for sustained success, particularly as part of the Gerflor family of companies.”

Riney Green, Ryan Hoffman, and John Keny of Bass, Berry, & Sims served as legal counsel for Gared.

About Matrix Capital Markets Group
Founded in 1988, Matrix Capital Markets Group, a division of Citizens, is a leading, advisory-focused investment bank headquartered in Richmond, VA, with an additional office in Baltimore, MD. Matrix provides merger & acquisition and financial advisory services for privately held, private-equity owned, and publicly traded companies. Matrix’s advisory services include company sales, recapitalizations, capital raises of debt & equity, corporate carve outs, special situations, management buyouts, corporate valuations and fairness opinions.

Our industry focused, dedicated sector advisory groups serve clients in the automotive aftermarket, downstream energy & convenience retail, and outdoor recreation & marine markets. Our broad sector advisory groups serve clients in a wide range of industries including business services, consumer, and diversified industrials. For additional information or to contact our team members, please visit www.matrixcmg.com.

About Citizens Financial Group, Inc.
Citizens Financial Group, Inc. is one of the nation’s oldest and largest financial institutions, with $226.4 billion in assets as of December 31, 2025. Headquartered in Providence, Rhode Island, Citizens offers a broad range of retail, private banking, wealth management and commercial banking products and services to individuals, small businesses, middle-market companies, large corporations and institutions. Citizens helps its customers reach their potential by listening to them and by understanding their needs in order to offer tailored advice, ideas and solutions. In Consumer Banking, Citizens provides an integrated experience that includes mobile and online banking, a full-service customer contact center and the convenience of approximately 3,100 ATMs and approximately 1,000 branches in 14 states and the District of Columbia. Consumer Banking products and services include a full range of banking, lending, savings, wealth management and small business offerings. Consumer Banking includes Citizens Private Bank and Private Wealth, which integrate banking services and wealth management solutions to serve high- and ultra-high-net-worth individuals and families, as well as investors, entrepreneurs and businesses. In Commercial Banking, Citizens offers a broad complement of financial products and solutions, including lending and leasing, deposit and treasury management services, foreign exchange, interest rate and commodity risk management solutions, as well as loan syndication, corporate finance, merger and acquisition, and debt and equity capital markets capabilities. More information is available at www.citizensbank.com or visit us on X, LinkedIn or Facebook.

# # #

The testimonials presented are applicable to the individuals depicted and may not be representative of the experience of others. The testimonials are not paid and are not indicative of future performance or success.

“Citizens” is the marketing name for the business of Citizens Financial Group, Inc. (“CFG”) and its subsidiaries. “Citizens Capital Markets & Advisory” is the marketing name for the investment banking, research, sales and trading activities of our institutional broker-dealer, Citizens JMP Securities, LLC (“CJMPS”), Member FINRA and SIPC

(See FINRA BrokerCheck and SIPC.org). “Matrix Capital Markets Group” is a brand name of CJMPS. Securities products and services are offered to institutional clients through CJMPS. (CJMPS disclosures and CJMP Form CRS). Banking products and services are offered through Citizens Bank, N.A., Member FDIC.