Altor acquires stake in RevolutionRace

The GP bought the shares from the founders, who remain majority owners of the company and continue in their operational roles as CEO and head of product.

With the fresh capital, RevolutionRace intends to become the leading brand in the outdoor industry, according to the founders.

Despite receiving higher bids, the clothing brand chose Altor due to the investor's industry knowledge managing companies such as Helly Hansen, Altor partner Johan Blomquist told unquote".

The PE firm hopes to grow the business to a turnover of SEK 1bn within the next five to seven years, he added. This includes entering the US market within the period.

Altor currently invests from Altor Fund IV, which closed on its hard-cap of €2bn in 2014. The fund is likely to deploy more capital by year-end or early 2018, Blomquist said.

Altor Fund IV's extended 15-year term is intended to allow the GP to invest in companies where a longer tenure period is required. It will primarily target private companies with revenues of €50-500m.

Company
Founded in 2013 and headquartered in Götene, RevolutionRace is an online outdoor apparel product retailer. It posted a turnover of SEK 120m for the fiscal year ending in June 2017.

People
Altor – Johan Blomquist (partner).
RevolutionRace – Pernilla Nyrensten, Niclas Nyrensten (founders).

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