Montagu Private Equity ("Montagu"), one of Europe's leading
private equity companies, is pleased to announce the agreement to
acquire Helly Hansen Pro ("HH Pro" or the "Company") in partnership
with its existing management team from the Helly Hansen Group.
HH Pro is a leading provider of survival and personal protection
suits to predominantly the offshore and shipping markets. Going
forward the Company will be rebranded "Hansen Protection".
HH Pro, headquartered in Moss, Norway, has ca 140 employees and is
predominantly active in the Nordic region. It is organised in three
main business segments: survival suit rental, used by personnel in
their transport between land and offshore installations (oil and
gas rigs), personal protection suits, used in other marine and
hazardous environments (navy, chemical plants, fire brigades) and
pro textiles, which includes boat canopies and products for the
agriculture, industry and health sectors.
With the support of Montagu, management plans to continue its
impressive track record of growth by expanding into adjacent
markets and product categories and thereby capitalising on the huge
opportunities its markets provide.
"HH Pro is a well managed business, providing essential products
and services in attractive, growing markets. The Company has an
impressive track record and we are very excited about supporting
the business in its next phase of development" said Montagu's
Anthony Greensmith, Director, and Christian Rasmussen, Investment
Director, in a joint statement.
Terje Gorm Hansen, CEO of HH Pro, commented "HH Pro is the leading
supplier of survival and personal protection suits in its markets.
In Montagu, we have found an experienced investor whose investment
style, geographical reach and expertise is a great fit for our
business and its strategy. With their support, I am confident that
our business will continue to grow and prosper well into the
future."
Peter Dahlberg, Director and Head of the Nordic region at Montagu
said "in addition to HH Pro being an excellent company with great
growth prospects, this investment also demonstrates Montagu's
ongoing commitment to the Nordic region, this being our second
investment in Norway this year and our fifth sizeable investment in
the region over the past five years."
Arctic Securities acted as financial advisor and Wikborg Rein as
legal advisor to Montagu.
Press
Release
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