The new company, General Sports Turf Systems, will market and construct sports surfaces with newly designed synthetic turf.
It's a new venture for General Sports & Entertainment (GSE), led by the former senior vice president of the NBA's Detroit Pistons, Andy Appleby.
Appleby plans to raise $3m in private equity within six months to fund the development and launch of a five-year business plan.
Says Appleby: "Despite the difficult economic times, there's always demand for a solid business plan backed by an experienced management team able to turn ideas into action."
Appleby, who will chair the new company, also announced the officers of General Sports Turf Systems.
Jon L. Pritchett will serve as president and CEO and joins the senior management team of General Sports & Entertainment. As the former president of TRAC and ScheerSports in Charlotte, NC, Pritchett led a multi-faceted sports marketing firm that owned minor league teams, developed multi-purpose sports venues, managed sporting events and consulted with several colleges and leagues.
John Knox holds a minority interest ownership and becomes the firm's senior vice president of product development. Knox founded and was sole owner of US Synthetic Grass. His company developed several synthetic turf improvements and completed more than 300 installations in 29 states and Canada in nine years.
Dan Fuhrman will serve as senior vice president and CFO. He is founder and president of Acquisition & Strategy Advisory Partners, an investment banking and business strategy advisory services firm in Rochester, Michigan.
The business will be based out of the same building in Rochester where GSE is currently located.
Meanwhile, the Georgia World Congress Center Authority has confirmed it will install FieldTurf as the new artificial surface at the Georgia Dome.
The FieldTurf installation, which is scheduled to begin on June 16, will be completed in time for the start of the Atlanta Falcons' 2003 NFL season. FieldTurf will replace the Dome's existing AstroTurf.
