Holdsport, which runs the Sportsmans Warehouse and Outdoor Warehouse stores in South Africa, raised 930 million rand ($135mm) in an initial public offering on the JSE (Johannesburg Stock Exchange).
The IPO was designed to facilitate the exit of majority shareholder, Ethos Private Equity. Ethos, which had owned about 67 percent of the retailer. Management owns the rest.
Catering to outdoor and sports enthusiasts, Holdsport’s history dates back to 1986 when the first Sportmans Warehouse was opened in Rondebosch in the Western Cape. It now operates 33 Sportmans Warehouse and 18 Outdoor Warehouse stores in South Africa and generated revenues of 1.1 billion rand ($159 mm) in 2010.
