Altor to buy Norwegian action-utility wear supplier Helly Hansen
26 Oct '06
4 min read
“The brand is going trough an exciting rejuvenation, building design leadership and innovation on the company's unique heritage of survival, work and sport”.
Tito Soso, a Principal with Investcorp said: “We believe that thanks to the substantial efforts made by the management team over the past three years, Helly Hansen has been able to successfully reposition its brand, rejuvenate its product range, and refocus its distribution. The company is now well positioned to embark onto the next stage of its profitable growth strategy.”
Investcorp was advised by KPMG Corporate Finance and Silver Steep Partners. Altor was advised by SEB Enskilda ASA and Cardo Partners AS. Transaction details were not disclosed.
The acquisition of Helly Hansen is conditional upon the approval of the transaction by the relevant competition authorities.
Norwegian Helly Hansen ASA is a global leader in action-utility wear for survival, work and sport. Innovation has been a foundation of Helly Hansen since the company was established in 1877, and its technical outdoor products are designed to be an enabling layer between human will and nature's forces. Helly Hansen is distributed in more than 40 countries.
Helly Hansen Spesialprodukter AS is the leading supplier of survival suits to the Norwegian oil industry. The company manufactures, sells and rents personal protection products (immersion- and survival suits) to the oil and offshore industry.
The Altor funds (Altor) are private equity funds comprising the Altor 2003 Fund with EUR 650 million in capital and Altor Fund II with EUR 1,150 million in capital. It is advised by Altor Equity Partners with offices in Oslo and Stockholm.
Investcorp is an alternative asset manager with offices in London, New York and Bahrain. The firm has four lines of business: private equity investment, real estate investment, hedge funds and venture capital.
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