Nordic Capital acquires majority stake in Gina Tricot

Nordic Capital will make the purchase from its eighth fund, a €3.5bn vehicle that closed in December 2013 on its hard-cap. It continues the investment strategy of previous funds, focusing on mid-market companies in the Nordic region and northern Europe.

Nordic Capital has invested alongside Paul Frankenius, a Sweden-based investment professional who will take a minority stake in the company. Jörgen and Annette Appelqvist, who founded the company in 1997, also remain as significant shareholders.

The equity injection will be used to improve the fashion chain's revenue decline in recent years. Nordic Capital will focus on an organic growth strategy for the company, with particular focus on the development of the firm's e-commerce offering.

Company
Headquartered in Borås, Sweden, Gina Tricot operates 180 stores across Sweden, Norway, Denmark, Finland and Germany. It also has an online presence in 28 European countries.

The company has approximately 2,000 employees and generated revenues of SEK 2bn in 2013. Half of all sales occurred outside Sweden.

People
Jörgen Appelqvist is current CEO and co-founder of Gina Tricot. He will transition into a senior role on the company's board of directors. Göran Bille, current CEO of Swedish fashion chain Lindex, will become CEO of Gina Tricot.

Michael Haaning is principal at NC Advisory, advisor to the Nordic Capital funds.

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• Topics
• Nordics
• Buyouts
• Consumer
• Nordic Capital
• Sweden