JUNE 2013 -
9
GARY HULSENBERG, LEANNE BARRETTE-HULSENBERG,
JOIN TEAM STORM
Storm Products, the Brigham City, Utah based manufacturer of high performance bowling equipment is proud to announce the additions of Gary Hulsenberg and
Leanne Barrette-Hulsenberg to its Sales and Marketing Departments.
The Hulsenberg's will be relocating to Utah on July 8th, 2013. They have owned and operated The Strike Shop (pro shop) located in Roseville, California for three years.
They also were instrumental in the development of Steve Cook's Fireside Lanes Youth Program.
Leanne, a USBC Hall of Famer and 27-time PWBA Champion, will be joining the Storm Marketing team as
its new Marketing Coordinator. Her responsibilities will be to manage Storm’s 85-plus sponsorship organi-
zations, tournaments, and events across the United States. Leanne will also coordinate Storm’s trade
shows, Bowl Expo, Sales Meetings, MatchMakers, and Storm University events.
"Storm was involved in over 500 bowling events or functions in 2012, and the number continues to in-
crease year after year, said Roger Noordhoek, Storm’s Director of Business Development. "Leanne is
going to be a great asset to Storm, helping us coordinate the events that we are involved in.‖
Gary is a former bowling manufacturer district manager and will be joining the Storm Sales team as its
new Inside Sales Coordinator. His responsibilities will be to manage Storm and Roto Grip’s pro shop pro-
grams and specials, as well as Storm’s retail web store. Gary will also provide support to the sales team
on the road, and assist them with additional communication to their pro shop customers. He will also coor-
dinate specials, programs, and promotions that will benefit Storm’s customers.
"The hiring of Gary Hulsenberg brings an added dynamic to the team," said Hank Boomershine, Storm
Vice President of Sales and Marketing. "Gary's history of employment is multi-faceted in several areas of
the industry and he will be a nice fit to our group."
"Our move to Utah, and more importantly to Storm, is a perfect fit for us both professionally and person-
ally," said the Hulsenberg's in a joint statement.
"I was honored when Storm wanted me to be on their pro staff and now I'm even more thrilled to join the
company full time and make the move to Utah," said Leanne Barrette-Hulsenberg. "I'm looking forward to
working with the whole team to help grow the sport of bowling."
"Storm is a proven leader because of the great people that work there and their vision to grow the sport
of bowling," said Gary Hulsenberg. "It's an honor to be joining the Storm family and I'm excited to get to
work and assist the team in any way I can."
Bowlmor and AMF
NEW YORK--
--AMF Bowling Worldwide,
Inc. and certain of its affiliates (“AMF”) filed a new chapter 11
plan of reorganization and disclosure statement today spon-
sored by Strike Holdings LLC (known as “Bowlmor”), and cer-
tain of AMF’s second lien lenders, including Cerberus Series
Four Holdings, LLC (“Cerberus”), and Credit Suisse.
“The combination will not only result in a strong company but
also the best bowling experience possible. We are committed
to making Bowlmor AMF a truly great company for the bowling
public, our partners and our employees.”
The plan provides that AMF will be reorganized and com-
bined with Bowlmor to form a company that will be known as
Bowlmor AMF, which would be the largest operator of bowling
centers in the world with 7,500 employees, 276 bowling cen-
ters and combined annual revenues of approximately $450
million. The plan provides that AMF’s second lien lenders will
convert their debt into equity in Bowlmor AMF, so that Bowl-
mor AMF will be owned jointly by the financial institutions that
hold AMF’s second lien debt and by equity holders in Bowlmor.
Credit Suisse will provide a term loan facility in the principal
amount of $230 million, and a revolving loan facility in the
principal amount of $30 million. The largest holders of AMF’s
existing second lien debt have expressed their confidence in
the new company by providing $50 million of backstop financ-
ing, which will be used to provide working capital for Bowlmor
AMF and to pay cash distributions in varying amounts to
AMF’s other creditors. In addition to second lien lenders, the
plan has the support of the Official Committee of Unsecured
Creditors. AMF’s first lien lenders will receive payment in full,
in cash, of principal, interest at the non-default rate, and their
f
e
e
s
.
“The prospect of combining Bowlmor’s proven approach to
operations and marketing with the AMF brand, its large num-
ber of locations and national market penetration represents an
exciting opportunity for both companies,” said Bowlmor’s
Founder and CEO Tom Shannon, who will serve as the Chair-
man, CEO and President of the combined company. “The
combination will not only result in a strong company but also
the best bowling experience possible. We are committed to
making Bowlmor AMF a truly great company for the bowling
public, our partners and our employees.”
Joining Shannon on Bowlmor AMF’s executive team will be
Bowlmor’s President and Chief Financial Officer, Brett Parker,
who will become Vice Chairman, CFO and EVP of Bowlmor
AMF. The new Bowlmor AMF will be jointly owned by AMF’s
existing second lien lenders, who will hold 77.53%, and Shan-
non and Parker, who will collectively hold 22.47% of the new
company.
Steve Satterwhite, AMF’s Chief Operating Officer and Chief
Financial Officer said, “AMF’s operational and financial per-
formance through our reorganization process has set the stage
for a successful emergence from bankruptcy. It is thanks to the
dedication and hard work of AMF’s employees and manage-
ment team that we recently posted the best same store sales
growth since 2007 and the highest profitability since 2009,
achieving impressive results despite the challenges of the
r e s t r u c t u r i n g a n d e c o n o m i c c o n d i t i o n s . ”
The next step in this process is a hearing set for May 23,
2013 at which the Bankruptcy Court in Virginia overseeing
AMF’s chapter 11 case will be asked to approve the disclosure
statement so that the plan can be sent to AMF’s creditors for
approval. Assuming that the Bankruptcy Court approves the
disclosure statement on May 23, the plan will be sent out for a
vote and the Bankruptcy Court will schedule a hearing to con-
firm the plan. Pending court approval, AMF could emerge from
bankruptcy and combine with Bowlmor by the end of June.
More information about AMF's restructuring is available
at
Court filings and claims infor-
mation are available a
Forward Looking Statements: Certain statements in this press
release constitute "forward-looking statements." All statements
other than statements of historical facts included herein, in-
cluding those regarding our future financial position and re-
sults, business strategy, plans, and objectives of management
for future operations, are forward-looking statements. Such
forward-looking statements involve known and unknown risks,
uncertainties, and other factors which may cause our actual
results, performance or achievements, or industry results, to
be materially different from any future results, performance, or
achievements expressed or implied by such forward-looking
statements. Such forward-looking statements are based on
numerous assumptions regarding our present and future busi-
ness strategies and the environment in which we will operate
in the future. Although we believe that the expectations re-
flected in the forward-looking statements are reasonable at the
time made, we cannot guarantee future results, levels of activ-
ity, performance, or achievements.
