Wiersholm avised Helly Hansen in the sale of the subsidiary Helly Hansen Pro
Helly Hansen Group AS, a company owned by Altor Equity Partners, has entered into an agreement with Montague Private Equity concerning the sale of the Helly Hansen subisidary Helly Hansen Pro AS. The main areas of activity for Helly Hansen Pro are survival suits, boat canopies and textile-based products for the agriculture, industry and health sectors.
The income of Helly Hansen Pro for 2010 will amount to NOK 250 million, accounting for approximately 15 % of the income of the Helly Hansen Group. The company’s business will be continued under the trademark “Hansen Protection”, whereas all of the rights belonging to the Helly Hansen trademark will remain in the Helly Hansen Group. Helly Hansen Group’s other activity is made up of the divisions Sport and Workwear.
The parties signed the Share Purchase Agreement on 16th December 2010, and expect completion of the transaction to take place during the first quarter of 2011.
About Helly Hansen
The Norwegian company Helly Hansen is one of the world’s leading brands within professional clothing and sportswear. Innovation has been fundamental to Helly Hansen since the company’s establishment in 1877, and functional clothing and footwear are designed to serve as a buffer between the human will and the forces of nature. Helly Hansen products are today marketed in more than 40 countries world-wide. Altor Fund II is the primary owner in Helly Hansen Group AS.
For further information, please visit the company’s website www.hellyhansen.com
About Montagu Private Equity
Montagu is an independent mid-market European private equity investor, backing management buyouts and other private equity deals. They focus on deals typically between €100 million and €1 billion, but with capacity to go larger through co-investment arrangements. They operate through offices in London, Manchester, Paris, Düsseldorf and Stockholm. The firm backs incumbent management in acquiring in a wide range of businesses, across a number of sectors. They have been in this market since 1968, and has grown to be a fully-fledged independent fund manager with just under €3 billion of funds and assets under management. HSBC, one of the world's leading financial institutions, is a minority shareholder in their business, with the balance of the equity held by the managers.
For further information – please visit: www.montagu.com
About Altor
Altor Fund II (“Altor”) is a private equity fund with a committed capital of EUR 1,150 million. Altor is advised by Altor Equity Partners.
Altor’s investors include Argentum, Skandia Liv, Tredje AP-Fonden, SEB Investment Management, Nordea Liv & Pensjon and Vital, among others.
Altor carries out investments in the Nordic countries and the company’s focus is generation of value through growth initiatives, strategic development and improvement of operation. Altor has a long-term investment horizon and a mandate to hold the investments for more than ten years.
Altor’s fund portfolio includes more than 25 companies with operating income totalling EUR 13.4 billion and a total number of employees of 34,000.
For further information, please visit www.altor.com
Wiersholm’s team was headed by Nils H. Thommessen and Jon Petter Haaland.
To visit the press release from Montagu Private Equity please click here.
For further information, please contact:
Nils H. Thommessen, Partner
nht@wiersholm.no
T: +47 210 210 41
M: +47 91 14 39 19