Business news: Investment Firm Sells Stake in Finland's Halti Oy
3i, an international investor, has sold its 49% equity stake in the 32-year-old Finnish outdoor brand Halti Oy to Ingman Group.
Halti is a leading brand in Finland for outdoor clothing, footwear, accessories and equipment for all seasons. Its products are used for winter sports such as Alpine and cross-country skiing and other outdoor pursuits including climbing, hiking, mountain biking and camping. Its products are sold under the "Halti" and "Raiski" brands through sporting retailers, department stores and hypermarkets with 1,400 points of sale in over 15 countries. Halti was founded in 1976 and is headquartered in Vantaa. The company employs c. 60 staff and reported net sales of €28m ($35mm) in 2010. 3i invested in Halti in July 2004, alongside management of the company.
Since 2004, 3i has actively supported Halti's efforts to build on its leadership position within its domestic markets in Finland and accelerate the internationalisation of the business, expanding into the strategically important Alpine countries of Austria, Italy and Germany. Additionally, Halti has boosted export sales and brand credibility through significant investments in international sponsorship and marketing. In 2013 Halti will be the official clothing supplier for the fourth time in the FIS Alpine World Ski Championships in Schladming, Austria. Moreover, Halti will equip the Finnish Olympic Team in the London Summer Olympics in 2012.
"Over the last eight years, 3i has worked closely with Halti’s management, offering access to 3i's network of global contacts and strategic advice to support the internationalisation of the brand," said Erkki Nikoskelainen of 3i's Nordic Private Equity team. "Over the investment period, Halti has doubled its turnover and achieved international recognition and success. Today the firm has a strong platform for continued future growth."
Halti CEO Mr. Martti Uusitalo said: "Halti's business and processes developed significantly during this eight-year partnership. 3i's added value and experience in international business as well as brand building has led Halti's permanent expansion into international markets."
3i is an international investor focused on private equity, infrastructure and debt management.