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Helly Hansen hopes new majority shareholder will help it grow

16/07/2012
The Ontario Teachers' Pension Plan, an independent finance organisation that invests in assets and administers the pensions of 300,000  teachers in the Canadian province of Ontario, has announced an agreement for the acquisition of a majority ownership stake in Norwegian outdoor brand Helly Hansen Group.

The deal is for approximately 75% of Helly Hansen, which the investment fund will acquire from current owner, Stockholm-based private equity firm, Altor Fund II. Altor will retain a 25% equity stake in Helly Hansen. Terms of the transaction are not being disclosed.

At the time of the announcement, Helly Hansen chief executive, Peter Sjolander, said: “We are pleased to have the Ontario Teachers’ Pension Plan as a long-term owner of the company. The fund’s strong financial backing and established global footprint will be invaluable as we look to expand the Helly Hansen brand internationally, particularly in North America.”

Jo Taylor, a vice-president of the Ontario Teachers’ Pension Plan and head of its London office described Helly Hansen as an iconic brand with a long heritage and a strong commitment to innovation and design. “We see excellent opportunities to continue growing revenues and international awareness outside the core European markets,” she added.

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