ODLO brought back under Norwegian control by Herkules
Herkules Private Equity Fund III has acquired ODLO, an originally Norwegian company, from American TowerBrook. ODLO is the market and technological leader for functional sports underwear.
ODLO, the world´s largest producer of functional sports underwear, was established in 1946 in Oslo, Norway. The company was founded by Odd Lofterød and his son Odd Roar Lofterød Jr. will continue in his position on the Board, as well as own a minority share of the company.
ODLO is the undisputed market leader for functional sports underwear in Europe with a market share of between 30 and 50 percent in the core markets of Germany, France and Switzerland. ODLO is also the market leader in Italy and Austria.
In addition, the company has also been the leading innovator in its market segment for some time and invented functional sports underwear and the “three layer” technology, which is now an industry standard.
In 2009, the company had sales revenues of CHF 160 million and 650 employees.
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| Fund | Herkules Private Equity III LP Argentum share 4.99% |
| Portfolio Company | ODLO |
| Date of Transaction | 2010-05-05 |
| Transaction | Acquisition |
| Seller | |
| Buyer | |
| Size of Transaction | |
| Ind. Focus | Consumer |
| Geography | RoW |
| Stage | Small/mid-cap buyout |