CCM Hockey, a Canadian equipment brand owned by Birch Hill Equity Partners through its portfolio company Sport Maska, Inc., began manufacturing hockey equipment as a secondary business in 1899.
The company announced it agreed to be acquired by the Swedish private equity firm Altor. CCM management reported it would reinvest in the company through the deal to continue successful growth.
Terms of the sale were not disclosed.
Bloomberg reported that CCM’s value is between € 500 million and €600 million (US $550 million to US $660 million).
In April, reports surfaced that Birch Hill Equity Partners, which acquired CCM from Adidas in 2016, had put the hockey brand up for sale. Reebok bought CCM in 2004, and, in turn, Adidas bought it in 2006.
CCM Hockey’s Tacks and JetSpeed hockey gear are used by pro hockey players Auston Matthews, Sidney Crosby and Connor McDavid. In the Nordics, CCM has a history of building Nordic champions, including Jofa and Koho.
CCM Hockey will remain headquartered in Montreal and operate in Canada, the United States, Europe, and Asia.
“CCM is a fantastic company with an iconic brand and impressive history. We understand why sports lovers have turned to CCM for quality equipment for over a century. We are impressed by the durability and innovation that continues to keep the performance of their products at the forefront. We are excited to partner with the management team and accelerate the growth journey for CCM. Together, we will continue the tradition of making sure that all players and goalies are represented in the best possible way in the sport they love,” said Andreas Källström Säfweräng, Partner and Head of the Consumer Sector at Altor.
“Over the years, we have built a strong team, attracted loyal customers and placed product innovation at the center of our strategy to secure long-term success. As we celebrate our 125th anniversary, we are entering an era where we will truly benefit from Altor’s long experience of backing renowned sporting and consumer brands and helping to unlock new growth opportunities. I am excited to join this partnership with Altor and reach the next levels on our growth journey together,” said Marrouane Nabih, CEO at CCM Hockey.
The CCM deal comes after Peak Achievement Athletics, the parent of CCM’s rival Bauer Hockey, agreed to be acquired by Toronto-based Fairfax Financial Holdings for an undisclosed price. Peak Achievement Athletics also owns Cascade and Maverik lacrosse gear.
The CCM transaction is expected to close by the end of 2024. This timeline is subject to customary closing conditions, including necessary regulatory clearances.
Photo courtesy CCM
