Building on Tony Hawk’s name recognition in the skateboarding community and popular culture, Blitz established itself as a leading supplier of high-end equipment throughout one of the strongest growth cycles in the sport’s history.

With the popularity of its leading brands (including Birdhouse, Flip, Baker, Fury Trucks, SK8 Mafia and Jus Liv) Blitz built a strong presence both in skateboard shops and large retail sporting goods stores. Blitz extended its brand by establishing an apparel division, which was divested in 2007 so the company could concentrate on its skateboard lines.

New growth opportunities abound for Blitz, especially if skateboarding becomes an event at the 2012 Summer Olympics, which promises to boost the sport’s popularity both in North America and abroad. Blitz also wants to position itself to make strategic acquisitions that will strengthen its brand portfolio and accelerate growth.

Blitz needs a ready source of capital to take advantage of growth opportunities and manage a strong and well-respected company in a sector that is very competitive, seasonal and cyclical. Company leaders felt they were not getting the support they needed from their incumbent lender, a local bank.

In 2007, Blitz decided to divest its four-year-old apparel business to focus on its finished skateboard and high-end component businesses. During the course of the transaction, Blitz was introduced to CIT, which provided financing for the buyer.

Following that successful transaction, the two companies began discussions on how CIT could help Blitz make the best use of its assets to finance its growth aspirations. As a leading provider of financial services in a wide range of industries, CIT has the resources, commitment and expertise to create innovative financial solutions for customers in a wide range of industries.

With their expanding expertise in the consumer products and action-sports sectors, CIT financing specialists recognized the soundness of the Blitz business model, the strength and experience of the management team, and the company’s excellent growth potential. They were able to create an innovative financial solution tailored to Blitz Distribution’s specific needs.

CIT’s solution for Blitz includes a revolving line of credit, secured by inventory and receivables. The solution also includes a credit protection feature with which Blitz can use – on a case-by-case basis – to protect itself from default by customers it perceives to be higher risk.

CIT’s total financial solution provides Blitz with greater financial flexibility, credit protection and ready access to capital so the company can pursue strategic acquisitions that it finds appealing and gear-up production as demand increases.

Already a leading player in the skateboard space, Blitz is considering acquisitions while also investing in product and graphic innovations as part of a growth strategy. Blitz also plans to increase the visibility of its top brands and professional riders in the skateboarding community.

With more than 10 million active skateboarders in the U.S. and international popularity on the rise, Blitz is well positioned for continued success in a market with excellent growth potential.