Ontario Teachers’ Pension Plan, through its private equity investment division, Teachers’ Private Capital, today announced an agreement for the acquisition of a majority ownership stake in Helly Hansen Group, a designer and marketer of high-performance outdoor apparel. Teachers’ is acquiring approximately 75% of Helly Hansen from Altor Equity Partners, which will retain a 25% equity stake in the company.
Helly Hansen designs, develops and markets stylish and high-performance technical apparel. In 2011, the company had revenues of NOK 1,576 million (C$265 million). The company is headquartered in Oslo, Norway and has approximately 500 employees (www.hellyhansen.com).
“Helly Hansen is an iconic brand with a long heritage and a strong commitment to innovation and design. We see excellent opportunities to continue growing revenues and international awareness outside the core European markets,” said Jo Taylor, Teachers’ Private Capital Vice-President and head of Teachers’ London office. “Management has a clear and compelling vision for the business and we look forward to supporting their efforts to build a global success story.”
Teachers’ Private Capital is one of the world’s largest private equity investors, having participated as a long-term investor in numerous management buyouts in Canada, the United States and Europe. It is the private investment department of the Ontario Teachers’ Pension Plan, the largest single-profession pension plan in Canada. Teachers’ Private Capital is based in Toronto with offices in New York and London (www.teachersprivatecapital.com).
“We are pleased to have Teachers’ as a long-term owner of the company,” said Peter Sjolander, the company’s CEO. “The fund’s strong financial backing and established global footprint will be invaluable as we look to expand the Helly Hansen brand internationally, particularly in North America.”
Altor Equity Partners, located in Stockholm, Sweden, is a private equity firm with EUR 3.8 billion under management. Altor invests in medium sized companies in the Nordic region with a focus on value creation through growth initiatives, strategic development and operational improvements (www.altor.com).