
Adelis acquires Didriksons from Herkules
Adelis Equity Partners has acquired a majority stake in Swedish functional clothing retailer Didriksons from Norway's Herkules Capital.
The deal marks the end of a four-year holding period for Oslo-headquartered private equity house Herkules. The company's management team will continue in their present roles and as minority stake owners in the company.
Didriksons said it will tap into the network and experience Adelis has when it comes to developing Nordic consumer goods brands.
As part of the deal, former CEO of Haglöfs, Mats Hedblom, will join the new board of directors.
Previous funding
Herkules acquired a majority stake in Didriksons in January 2014. The GP acquired the company via its Herkules IV fund. Didriksons CEO Sören Andreasson and other key employees held a significant minority stake following the transaction. Andreasson had acquired the company in 1998.
Company
Founded in 1913 and headquartered in Borås, Didriksons originally manufactured oil garments for fishermen on the west coast of Sweden. It went through a brand reboot in 1998, moving into functional and waterproof sportswear.
The product range includes rain sets, jackets, bottoms, tops and accessories. The company has its own distribution network in Sweden, Norway and the UK, and is represented in 19 countries. It reported a turnover of SEK 500m in its last financial year.
People
Adelis – Lene Sandvoll Stern (partner).
Didriksons – Johan Ekeroth (CEO).
Herkules – Sverre Flåskjer (managing partner).
Advisers
Vendor – Baird (corporate finance).
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