Mammut Sports Group (Mammut) owner Jacobs Capital has signed an agreement to sell the Swiss premium outdoor brand to CPE, a Chinese alternative asset manager. The transaction reportedly follows a successful transformation of Mammut under Jacobs Capital’s ownership. Mammut serves mountain sports enthusiasts around the world through a diversified combination of digital channels, its own stores, and premium retail partners.
Financial terms of the transaction were not disclosed.
Philippe Jacobs, co-chairman and founder, Jacobs Capital, commented: “We are immensely proud of the transformation Mammut has achieved over the past five years. Together with Heiko and his outstanding team, we have modernized the company from the inside out and materially improved its financial and operational performance. Mammut is stronger than ever, and we believe CPE is the ideal partner to support the brand’s continued international growth while respecting its unique Swiss DNA. We wish the entire Mammut team every success.”
Upon completion, CPE will become the brands’s new partner for the next phase of global growth.
Telemos Capital, which acquired Mammut in 2021 from Swiss holding company Conzzeta, merged with Jacobs Holding earlier this year to form Jacobs Capital. Telemos Capital was set up as a European private equity investment firm with a Swiss background. The firm was founded and chaired by Philippe Jacobs, who was also co-chairman of Zurich, Switzerland-based Jacobs Holding AG at the time.
As previously reported by SGB Executive in January 2026, Jacobs Capital has been exploring a sale of Mammut, seeking more than €500 million (~$584 million), and had retained Houlihan Lokey as financial advisor.
Since acquiring Mammut in June 2021, Jacobs said it has partnered with the company to “implement a comprehensive operational and strategic transformation.” These efforts reportedly modernized Mammut’s digital infrastructure, sharpened its brand positioning, and optimized its operating model, all while preserving the technical credibility and Swiss heritage that have defined the brand for over 160 years.
Mammut has achieved a double-digit compound annual growth rate as a result of these initiatives, Jacobs said. Revenues outside of Europe now represent well over 50 percent of the total, and EBITDA margins have more than doubled since 2021.
Jacobs believes that Mammut is now positioned for its next phase of sustained, profitable growth.
“Drawing on its extensive investment experience, global perspective and broad network across China and the wider Asia-Pacific region, CPE will work closely with the existing Mammut management team around CEO Heiko Schäfer to unlock new opportunities across product innovation and localisation, brand building, channel expansion and supply chain optimisation, accelerating the company’s growth in high-potential markets,” Jacobs Capital said in a media statement.
Mark Mao, managing director of CPE, commented: “It is both a privilege and a responsibility to become the next steward of Mammut, an iconic Swiss outdoor brand with more than 160 years of heritage. Following the completion of the transaction, CPE is fully committed to preserving and building upon the brand equity, technical excellence and authentic heritage that have made Mammut one of the world’s most respected outdoor brands, while supporting its continued global expansion.”
Mammut’s headquarters as well as its core design and innovation functions, will remain firmly anchored in Seon/Lenzburg, Switzerland.
“Together with Jacobs Capital, we have achieved an extraordinary transformation, making Mammut stronger and more globally relevant than ever before,” offered Mammut’s Schäfer. “I would like to thank the Jacobs team for their trust and highly constructive partnership. We are entering this next chapter from a position of absolute strength, and we are excited to work with CPE to realize the many opportunities ahead of us.”
The transaction is expected to close in the coming months, subject to customary regulatory approvals and closing conditions.
Jacobs was advised by Houlihan Lokey (M&A), Homburger (Legal), EY (Financial and Tax) and LEK (Commercial).
CPE was advised by Rothschild & Co (M&A), DLA Piper (Legal), EY (Financial and Tax) and OC&C (Commercial).
Image courtesy Mammut Group
