EQT new majority owner in XXL
EQT V has acquired 70 per cent of the Norwegian sporting goods retailer XXL from the existing owners.
EQT is the new majority owner of the company, while founder Øivind Tidemandsen will retain a 30 per cent ownership and continue as chairman.
XXL is the fastest growing sporting goods retailer in the Nordic region with a market share of around 15 per cent. In the period between 2003 and 2010, sales have grown on average 30 per cent per year and the company is expected to reach sales of almost NOK 2 billion in 2010.
EQT will provide support, expertise and resources for expansion into Sweden and further growth in Norway.
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| Fund | EQT V LP Argentum share 0.82% |
| Portfolio Company | XXL Sport & Villmark |
| Date of Transaction | 2010-06-02 |
| Transaction | Acquisition |
| Seller | |
| Buyer | |
| Size of Transaction | |
| Ind. Focus | Consumer |
| Geography | Norway |
| Stage | Small/mid-cap buyout |