Phoenix Equity Partners has sold Musto, a UK-based retailer of outdoor sports clothing and leisurewear, to Norwegian trade buyer and Ontario Teachers Pension Plan (OTPP) portfolio company Helly Hansen after a 10-year holding period.
Company plans on expanding further into the learning and development market
Primomiglio, Banca di Piacenza, Intesa Sanpaolo Vita, Be Shaping the Future and CRIF also take part in the round
Centerbridge Partners, which invested in the company in 2013, retains a minority stake
Company will use the proceeds to commercialise its flagship product across the US