BikeBiz Bicycle and cycling retail news
Private equity firm Investcorp has acquired POC Sports for USD $65 million from outdoor equipment brand Black Diamond.
American listed company Black Diamond had originally bought Swedish group POC Sports, manufacturer of helmets, accessories and apparel for cycling and skiiing, just three years ago.
Investcorp has form in the sporting business, with investments in Riva Boats, Helly Hansen, AGV and Dainese.
Mohammed Al-Shroogi, Investcorp’s Co-CEO, said: “POC is one of the fastest growing, dynamic and innovative companies in the sports gear and protection sectors. Its cross generational reach, intrinsic focus on technical innovation and commitment to safety, make it the perfect fit for our portfolio. Leveraging our sector expertise, experience of working with high quality brands and industry connections, we believe Investcorp is well placed to further support POC’s already impressive growth trajectory.”
Stefan Ytterborn, POC’s founder, said: “We are delighted to be partnering with Investcorp in the next stage of our development. I am confident that with their support we will continue to grow sales, increase penetration into new markets and drive forward innovation, while not deviating from our ultimate mission of doing the best we can to possibly save lives and reduce consequences of accidents for gravity sports athletes and cyclists.”
Gattai Minoli Agostinelli & Partners assisted in the acquisition.
We’ve seen plenty of acquisitions in the bike trade this year, including some of the biggest names in UK bike retail. Catch up here.
