IK's Hansen Protection targets Oslo listing

Hansen Protection announced the IPO plans in a statement, without offering a target date for said listing. The IPO is expected to comprise an offering of new shares to raise gross proceeds of around NOK 550-600m. It will also see Protection International, a holding owned by funds managed by IK Investment Partners, sell down part of its shares.

IK declined to comment further at this point.

ABG Sundal Collier is global coordinator in the IPO, joined by Carnegie as joint bookrunners. Advokatfirmaet Wiersholm is acting as legal adviser to the company.

Hansen Protection is a Norwegian supplier of survival suits, protective rainwear and special hi-tech textile products used in harsh environments and cold-water areas. The company was a separate subsidiary of Helly Hansen from 1995 until it span out in 2011. It generated pro forma revenues of NOK 386m in 2017, with pro forma EBITDA of NOK 113m.

Montagu Private Equity sold Hansen to IK Investment Partners in mid-2013, reaping returns in excess of 2x on the exit. Montagu acquired the company in a primary MBO that closed in February 2011.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Exits
• Nordics
• Consumer
• IPO
• IK Investment Partners
• Carnegie