Altor invests in XXL

The GP made the investment from Altor Fund IV, a €2bn fund that closed in 2014. The vehicle's mandate allows it to make minority investments in publicly traded companies.

It has invested NOK 77.4m (€8m) in 3,096,274 treasury shares and has also purchased 7,100,000 shares from existing investors. In total, Altor will now own 17,096,274 shares (12.29% of all outstanding shares).

XXL said in a statement that it has experience of private equity owners, having been partly owned by EQT between 2010-2015, and believes Altor will fuel the company's competence in its next phase.

Company
Founded in 2001, XXL Sport & Villmark is a sporting goods and sportswear retailer operating in Norway, Sweden, Finland, Denmark and Austria. It generated EBITDA of NOK 541m from sales of NOK 9.5bn in 2018 and employs 3,200 people.

People
XXL – Øivind Tidemandsen (chairman of the board).

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