A British investment firm sold its 49 percent stake in Finland’s Halti Oy, after helping the outdoor brand double sales to $35 million via an aggressive expansion into the Alpine countries of Germany, Austria and Italy.
The private equity arm of 3i said it sold its stake in Halti Oy to Ingman Group, a family controlled company that owns Finland’s largest maker of ice cream. Terms of the deal were not disclosed. 3i, which currently manages $16.5 billion in assets, invested in Halti in July 2004 alongside management of the company.
Founded in 1976, Halti is headquartered in Vantaa, employs approximately 60 staff and reported net sales of $35 million 2010. The company’s apparel, footwear and accessories are used for winter sports such as Alpine and cross-country skiing and other outdoor pursuits including climbing, hiking, mountain biking and camping. The company markets to enthusiasts under the Halti brand and to families under the value priced Raiski brand. Its products are sold through 1,400 sporting goods retailers, department stores and hypermarkets in more than 15 countries.
With help from 3i, Halti 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.