Swix Sport acquires Lundhags from EQT Opportunity
Swix Sport has acquired Sweden-based Lundhags from EQT. Swix Sport, which already owns the brands Swix, Toko, Ulvang and Bavac, strengthens its position as one of the leading Nordic brand companies within the sport and outdoor segments.
The history of Lundhags started in 1932 with the shoemaker Jonas Lundhag developing shoes and boots in his own workshop in the middle of the ”the jämtländska wilderness”. Today boots are the core business of the company, but the Lundhags outdoor collection also contains clothing, backpacks, and nordic skates. Lundhags has experienced a very good growth over the last years and had revenues in 2010 of SEK 110 million, with positive results. The key market is Sweden, but Lundhags is also experiencing a positive development in Norway and Germany .
Swix Sport AS acquires Lundhags Skomakarna AB from the EQT Opportunity Fund. The formal take over will take place in medio February 2012.
| Fund | EQT Opportunity Fund |
| Portfolio Company | Lundhags |
| Date of Transaction | 2012-01-19 |
| Transaction | Trade-sale |
| Seller | |
| Buyer | Swix Sport |
| Size of Transaction | |
| Ind. Focus | Consumer |
| Geography | Sweden |
| Stage | Small/mid-cap buyout |