3i divests its minority interest in Finnish outdoors brand leader, Halti Oy
3i, an international investor, today announces that it has divested its 49% equity stake in the business to Ingman Group.
Halti is the leading brand in Finland for outdoor clothing, footwear, accessories and equipment for all seasons. Its products are used for winter sports such as Alpine and cross-country skiing and other outdoor pursuits including climbing, hiking, mountain biking and camping. Its products are sold under the "Halti" and "Raiski" brands through sporting retailers, department stores and hypermarkets with 1400 points of sale in over 15 countries.
Halti was founded in 1976 and is headquartered in Vantaa. The company employs c. 60 staff and reported net sales of €28m in 2010. 3i invested in Halti in July 2004, alongside management of the company.
Since 2004, 3i has actively supported Halti's efforts to build on its leadership position within its domestic markets in Finland and accelerate the internationalisation of the business, expanding into the strategically important Alpine countries of Austria, Italy and Germany. Additionally, Halti has boosted export sales and brand credibility through significant investments in international sponsorship and marketing. In 2013 Halti will be the official clothing supplier for the fourth time in the FIS Alpine World Ski Championships in Schladming, Austria. Moreover, Halti will equip the Finnish Olympic Team in the London Summer Olympics in 2012.
Erkki Nikoskelainen of 3i's Nordic Private Equity team commented: "Over the last eight years, 3i has worked closely with Halti’s management, offering access to 3i's network of global contacts and strategic advice to support the internationalisation of the brand. Over the investment period, Halti has doubled its turnover and achieved international recognition and success. Today the firm has a strong platform for continued future growth."
Halti CEO Mr. Martti Uusitalo said: "Halti's business and processes developed significantly during this eight year partnership. 3i's added value and experience in international business as well as brand building has led Halti's permanent expansion into international markets."
Halti was established in 1976 and has gone on to become the leading designer and manufacturer of outdoor sports and recreation clothing and equipment in Finland. Named after Finland's highest peak, Halti has been synonymous with quality and technical innovation in the field of sporting equipment for over 30 years.
3i is an international investor focused on Private Equity, Infrastructure and Debt Management. Our rich mix of international relationships, extensive experience, on-the-ground knowledge and capital enables us to identify market-leading businesses and contribute to their success. 3i is a responsible and committed investor and encourages long-term development and improvement. Working in partnership, we support these companies in achieving their goals. Through combining these attributes, we create value for all our stakeholders.
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