Helly Hansen will be up for sale
02/04/2012
“It (the information memorandum on Helly Hansen) is going out in a few days,” said an industry source.
A banker looking at the process told Reuters he expected retailers to be most interested, though private equity might bid too. He believes Helly Hansen could get sold at an EBITDA multiple in the low to mid-teens.
The firm had sales of $280.50 million in 2011. Altor bought Helly Hansen for around $140 million in 2006, the same year that the firm launched a recovery plan based on integrating production with sales, innovation and cutting underperforming staff and stores.
It earned back its investment last year when it sold Helly Hansen Pro, a subsidiary focusing on survival suits, boat canopies and textile-based products for agriculture, industry and health sectors, to Montagu Private Equity.
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