Polaris backs sportswear retailer Stronger

The GP is acquiring a 51% stake in the company, with the remainder being retained by the founders and management. 

Mergermarket reported last month that Polaris was in exclusive talks to acquire Stronger and that Clearwater had been mandated as sell-side adviser on the deal. 

The publication also reported that Stronger has an EBITDA of around €10m, and that it was likely Polaris would acquire the company with an all-equity cheque and raise the debt financing later this year. The company's sales exceeded SEK 300m (€29.6m) in 2020. 

Polaris partner Johan Pernvi said in a statement that the GP saw "great potential for further growth, primarily through continued international expansion."

The GP is currently deploying equity from Polaris Private Equity V, which launched in 2019 and was targeting €550m.

The fund started investing this year, with deals including the acquisition and merger of four financial advisory consultancies to create a new Danish financial adviser called North; the acquisition in March of a 57.5% stake in Danish company Sinful, an online retailer of sex toys; and the acquisition in January of ergonomic pointing devices company Contour Design.

Company
Founded in 2014 and based in Stockholm, Stronger is an online retailer of active wear. At present, Germany and Benelux are Stronger's largest markets outside of Sweden, with the UK and US being among its fastest-growing markets, the firm said in a statement.

In 2020, Stronger generated sales of more than SEK 300m (circa €29m), with a reported EBITDA of around €10m. It employs 40 staff.

People
Polaris – Johan Pernvi (partner).
Stronger - Henrik Grundén (co-founder); Annica Rantala (CEO).

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• Topics
• Buyouts
• Nordics
• Consumer
• Sweden
• e-commerce
• Polaris Private Equity