Helly Hansen sells subsidiary Helly Hansen Pro
(Thomson Reuters ONE) -
Helly Hansen Group AS ("Helly Hansen") has signed an agreement with Montagu
Private Equity to sell its subsidiary Helly Hansen Pro AS ("HH Pro or the
"Company"). Helly Hansen Pro is a leading provider of survival suits, boat
canopies and textile based products for agriculture, industry and health
sectors.
Helly Hansen Pro will in 2010 have revenues of NOK 250 million and represents
approximately 15% of Helly Hansen Group total revenues. Going forward the
Company will be rebranded "Hansen Protection", while all rights to the Helly
Hansen brand remains with the Helly Hansen Group.
"It has been an exciting development within our product areas in recent years,
and going forward we see many attractive growth opportunities, through both
geographic expansion and through new applications of our products in existing
markets. We look forward to working with our new owners in the development of
Hansen Protection", says Terje Gorm Hansen, CEO of Helly Hansen Pro
Remaining activities in Helly Hansen group consists of the Sports and Workwear
divisions.
"We are very proud of our business within Helly Hansen Pro. Nevertheless, it is
in many ways very different from other activities within the group. Through this
sale, HH Pro will have a great new owner at the same time as we can focus all
our resources on Sports and Workwear", says Peter Sjölander, CEO of Helly Hansen
Group AS.
"The management has done a great job of developing Helly Hansen Pro over the
last years. They have created a unique position on the Norwegian continental
shelf through focused research and development of transport- and survival suits
that have helped to improve safety for all offshore workers. This technological
development has also had positive effects on the company's other product areas.
Montagu has acquired a well-managed company with strong leadership and many
exciting growth opportunities.", says Hugo Maurstad, Chairman of the board of
directors of Helly Hansen Group AS.
Advisors to Helly Hansen Group in the transaction were SEB Enskilda, Wiersholm
and PwC.
For additional information please contact:
Peter Sjölander, CEO Helly Hansen Group AS, Tel +47 911 95 350
Terje Gorm Hansen, CEO Helly Hansen Pro AS, Tel +47 950 88 547
About Helly Hansen
Helly Hansen is the global leader in protecting and enabling professionals whose
work and adventures put them into the harshest elements on earth. The Oslo,
Norway-based company is recognized for manufacturing waterproof fabrics back in
1877, the first Propile(TM) fleece mid layers in the 1960s, and LIFA®, the first
technical base layer in the 1970s. The combined three-layer system of dress has
become the reliable standard for staying warm, dry and comfortable in cold, wet
conditions. Today, Helly Hansen is a global leader in technical apparel and
footwear designs for a range of outdoor and water-sport activities. Helly Hansen
products are distributed in more than 40 countries. Altor Fund II is the main
owner of Helly Hansen.
Further information can be found at www.hellyhansen.com
About Helly Hansen Pro
Helly Hansen Pro is the leading provider of survival and personal protection
suits to the offshore and shipping markets, predominantly on the Norwegian
continental shelf. The Company employs ca 140 people, is headquartered in Moss,
Norway, and is organised in three main business segments: survival suit rental,
personal protection suits and pro textiles, which includes boat canopies and
products for the agriculture, industry and health sectors.
Further information can be found at www.hellyhansenpro.com.
About Altor
Altor Fund II ("Altor") is a private equity-fund with committed capital of EUR
1.150 million. Altor is advised by Altor Equity Partners.
Altor's investors include among others Argentum, Skandia Liv, Tredje AP-Fonden,
SEB Investment Management, Nordea Liv & Pensjon and Vital.
Altor invests in companies in the Nordic region with a focus on value creation
through growth initiatives, strategic development and operational improvements.
Altor has a long term investment horizon with mandate to keep investments for
more than ten years. The Altor Funds' portfolio currently includes more than 25
companies with combined revenues of EUR 13.4 billion and some 34,000 employees.
Further information can be found at www.altor.com.
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Helly Hansen Group AS via Thomson Reuters ONE
[HUG#1473566]
Unternehmensinformation / Kurzprofil:
Datum: 17.12.2010 - 07:56 Uhr
Sprache: Deutsch
News-ID 49814
Anzahl Zeichen: 5498
contact information:
Town:
Moss
Kategorie:
Business News
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