Nordic private equity firm FSN Capital has acquired a majority stake in Norwegian sporting goods manufacturer Active Brands.
According to Norwegian financial publication DN.no, the deal values Active Brands at NOK 1bn.
The deal sees FSN tap its FSN Capital IV vehicle, a SEK 5.25bn buyout fund closed in November 2013.
Existing backer Holta Invest, Active Brands' management and the company's founders will remain as minority shareholders in the business following the transaction, with Holta holding 20%. Holta received NOK 500m from the buyout, according to local media.
FSN said in a statement that it intended to build on Active Brands' current position in its local Nordic market, as well as support growth in North America and Central Europe.
The transaction was supported by a DNB debt package and is subject to regulatory approvals.
Headquartered in Oslo, Active Brands is a manufacturer of sportswear and sporting goods.
The company's portfolio includes the brands Kari Traa, Dæhlie, Bula and Sweet Protection. According to publicly available information, the company had NOK 652m in revenues and NOK 19.24m in operating profits in 2015. It employs a staff of 112.
FSN Capital – Erik Nelson (partner).
Active Brands – Espen Krogstad (CEO).
Equity – PWC (tax); BCG (commercial due diligence); Schjødt (corporate finance).
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