EQT exits Lundhags
EQT has exited outdoor clothing company Lundhags to Norwegian trade player Swix.
The value of the transaction has not been disclosed.
Previous funding
EQT took a majority stake in Lundhags in 2007, investing from the EQT Opportunity fund. The company was acquired from the Lundhag family. Sales are reported to have grown by 15% per annum.
Company
Lundhags, founded in 1932 by shoemaker Jonas Lundhag, manufactures and distributes boots, clothing, backpacks, and skates for the outdoor environment. Its main markets are the Nordics and Germany. Based in Järpen, Sweden, it recorded revenues of SEK 110m in 2010.
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