Hardloop, a European outdoor equipment e-commerce platform based in the French Alps, is reporting that iX Private Equity acquiring is a stake in the company and investing alongside Co-Founder and CEO Guillaume Richard and Co-Founder and Board Chair Julien Jérémie. While the company was not able to share details of the transaction, the company’s co-founders told SGB Executive that “everyone seems very happy with the deal, both the 21 outgoing and [the] incoming partners.”

Founded in 2015, Annecy-based Hardloop reportedly doubled in size between 2022 and 2025, surpassing €40 million in revenue last year. Since the beginning of 2026, the company has reportedly continued to deliver profitable growth, recording a 34 percent year-over-year increase in sales. This trajectory is expected to take Hardloop to €50 million in revenue this year, with expectations of reaching €100 million within three years.

One year after its launch, the company closed a first round of funding of €350,000. Hardloop raised another round of capital worth €3 million in January 2022, partnering with Sport & Performance Capital, the sport tech investment fund operated by Seventure Partners, SGPA, and a pool of angel investors.

This new transaction now sees the founders jointly holding nearly 60 percent of the shares, compared to 49.6 percent previously. The transaction reportedly coincides with the planned exit of the 21 existing investors, including Seventure, SGPA, Kima Ventures, and angel investors.

The company said this latest change in the company’s shareholder base is part of a long-term strategy focused on continuity. It has three main objectives:

  • Providing liquidity to its existing investors, including Seventure, SGPA, Kima Ventures and several business angels;
  • Enabling the founders to significantly increase their equity stake and become clear majority shareholders;
  • Creating new strategic options, with dedicated financing facilities in place to pursue potential acquisition opportunities.

The company said this transaction comes at a time when the European outdoor market is being driven by powerful long-term trends: a growing desire for nature, health, freedom, movement and shared experiences, alongside increasingly discerning consumers.

“Outdoor enthusiasts are comparing products more extensively, looking for more expert guidance and high-quality service, and seeking to identify the right product quickly for their next adventure,” Hardloop stated. “By 2030, online outdoor sales are therefore expected to grow significantly faster than offline sales, with e-commerce forecast to achieve average annual growth of 14 percent, compared with around 2 percent for physical retail.”

The company said it stocks nearly 400 brands, more than 200,000 new and second-hand products, over serves one million European customers with a presence in 15 countries, and roughly 65 employees across Annecy, Lyon and Montmélian.

“Hardloop brings together everything we look for in a growth company: a dynamic market, a profitable and self-funded business, a strong brand, an engaged community and entrepreneurs taking a long-term approach to building their company,” commented Sylvain Caillat, investment director, iXO Private Equity. “We also share their vision of a more responsible outdoor sector, capable of combining performance and commitment with the preservation of our natural playgrounds. With the founders now holding a clear majority stake, a fully committed team and a clear roadmap for accelerating growth, we are convinced that Hardloop has all the ingredients to become Europe’s leading e-commerce platform for outdoor sports.”

Founded in 2003, iXO Private Equity is France’s leading independent regional private equity firm. With €1 billion in assets under management, the investment firm primarily focuses on growth capital and buyout transactions. It invests between €2 million and €30 million of equity per project in companies based in the south and west of France.

The engagement with iXO Private Equity is expected to enable Hardloop to accelerate several key strategic priorities, including strengthening its product offering, pursuing its international expansion, further enhancing the customer experience, expanding its community, and developing its second-hand offering.

“This transaction marks another important milestone in Hardloop’s history,” added the Hardloop Co-Founders. “By increasing our stake in the company, we are reaffirming our confidence in its trajectory, the strength of its business model and the potential of the European outdoor market. With iXO by our side and a talented, fully committed team, we want to accelerate our mission: to reconnect people with nature and make adventure more accessible, more responsible and more inspiring. Our ambition is clear: to make Hardloop the starting point for every adventure, while building profitable, resilient and sustainable growth.”

Sell-side M&A adviser was Cambon Partners (Alexandre Aymard, Pierre Bontemps, Briac Gisserot) and sell-side legal advisers were Héloïse Juin, Bertrand Dale.

Buy-side legal advisers included Fabien Mauvais, Camille Le Foyer de Costil, Alice Biernacki with Lamartine, and buy-side financial due diligence was handled by Tissendo (Christophe Bourgognon, Alexandre Garel-Galais).

ESG due diligence was done with Sébastien Magnan. Vendor financial due diligence was conducted by Oderis (Nicolas Boucher).

Bank financing was done through CASRA (Anael Charnay), LCL (Matthieu Calvet), and Société Générale (Jean Parizot).

Image courtesy Hardloop