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Altor to buy Norwegian action-utility wear supplier Helly Hansen
26 Oct '06
4 min read
Altor Equity Partners announced that it has entered into an agreement with Investcorp to purchase 100 percent of the shares in Helly Hansen, the worldwide supplier of technical apparel and footwear for outdoor sports, workwear and survival.
Founded in Norway in 1877, Helly Hansen operates in three business areas. Sport & Leisure is Helly Hansen's largest division, supplying branded technical apparel and footwear for outdoor sports. The company's Workwear division serves the professional apparel markets, while a dedicated unit manufactures and distributes survival suits for the oil & gas industry.
Headquartered in Moss, Norway, the company generates annual sales of approximately NOK 1,400 million (USD 210 million) and employs approximately 600 employees across Europe, North America and Asia. Helly Hansen's products are sold through general sports retailers, specialty retailers and dedicated Helly Hansen stores.
Altor is in its third year of operation and specializes in acquiring majority shareholdings in mid-sized companies in the Nordic region where, as an active owner, it can contribute to positive and lasting change in its portfolio companies.
“Helly Hansen has built a truly global brand which marries authentic substance and a strong legacy with progressive and trend-right design. Altor will assist the company in utilising its strong brand name and product competence to strengthen its market position."
"We are very excited about this opportunity to work with Helly Hansen's management team in the next stages of the journey they have embarked on. The strategy is to continue the focus on operational excellence and grow the brand in its existing markets”, said Hugo Maurstad, partner in Altor Equity Partners.
“With Altor as its new owner, Helly Hansen will have a strong partner with financial resources and extensive expertise that can further support our future growth. Altor identifies and subscribes to the current Helly strategy and will help us to unlock the fantastic potential of the brand”, said Jan Valdmaa, CEO of Helly Hansen.
Founded in Norway in 1877, Helly Hansen operates in three business areas. Sport & Leisure is Helly Hansen's largest division, supplying branded technical apparel and footwear for outdoor sports. The company's Workwear division serves the professional apparel markets, while a dedicated unit manufactures and distributes survival suits for the oil & gas industry.
Headquartered in Moss, Norway, the company generates annual sales of approximately NOK 1,400 million (USD 210 million) and employs approximately 600 employees across Europe, North America and Asia. Helly Hansen's products are sold through general sports retailers, specialty retailers and dedicated Helly Hansen stores.
Altor is in its third year of operation and specializes in acquiring majority shareholdings in mid-sized companies in the Nordic region where, as an active owner, it can contribute to positive and lasting change in its portfolio companies.
“Helly Hansen has built a truly global brand which marries authentic substance and a strong legacy with progressive and trend-right design. Altor will assist the company in utilising its strong brand name and product competence to strengthen its market position."
"We are very excited about this opportunity to work with Helly Hansen's management team in the next stages of the journey they have embarked on. The strategy is to continue the focus on operational excellence and grow the brand in its existing markets”, said Hugo Maurstad, partner in Altor Equity Partners.
“With Altor as its new owner, Helly Hansen will have a strong partner with financial resources and extensive expertise that can further support our future growth. Altor identifies and subscribes to the current Helly strategy and will help us to unlock the fantastic potential of the brand”, said Jan Valdmaa, CEO of Helly Hansen.
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