Investcorp launches POC Sports exit; Rothschild advises

Meetings with potential private equity bidders have taken place, the sources said, adding that the asset is marketed off around an estimated EUR 17m EBITDA and EUR 108m sales for 2022.

POC Sports reported EUR 6m in 2020 EBITDA on EUR 55m sales, one of the sources said. The jump in sales and EBITDA since then is due to COVID rebound, the source added.

Stockholm-headquartered POC Sports designs and manufactures helmets, body armour, eyewear, clothing and accessories for snow sports and cycling. Its customers include elite athletes, daily bike commuters and weekend skiers, according to its website.

This is an interesting case for private equity, as the company is very profitable and there is scope to expand to Asia, the second source said, adding that about 70% of its business comes from bicycle helmets.

However, some bidders might need to digest the case a bit more to find POC Sports' uniqueness, the third source said.

"I struggle to find the edge here, what makes their helmets so unique? It's not like [their Swedish peer] Hövding, where you have a sort of sophisticated IP attached to it," this source said.

Investcorp acquired POC Sports from Black Diamond in 2015, financing the deal with all equity, as reported.

POC Sports and Investcorp declined to comment. Rothschild did not return requests for comment.

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