RevolutionRace sold to Altor

Transaction

Sell-side

Undisclosed

Role

Adviser to RevolutionRace on its sale to Altor

Sector

Consumer

Region

Sweden

Clearwater has advised RevolutionRace on its sale to private equity fund Altor.

RevolutionRace is a leading Swedish direct-to-consumer brand who designs and develops high quality functional clothes, marketed through the company’s online store. The company has experienced exceptional growth since it was founded in 2013, reaching a turnover of more than €12.3m (SEK 120m) in 2017, with high profitability. Over the past 14 months, the company has successfully expanded geographically and launched in the Nordic countries and other parts of Europe.

RevolutionRace has established an exciting position in the growing outdoor market and is well-positioned to capitalise on current market trends. The core of the company is to provide affordable high-quality products, together with a successful digital marketing strategy and a direct-to-consumer sales model where many steps in the usual supply chain can be skipped.

To further accelerate growth, the founders decided to sell a minority share to Altor IV. Altor has relevant experience from supporting outdoor brands and has invested in Rossignol and Helly Hansen amongst others.

When we started looking for a partner, we were looking for someone who could complement our capabilities and contribute with experience. Altor had two key attributes that appealed to us; they have relevant knowledge of the outdoor industry from Helly Hansen and Rossignol and they have put together a dream team that we believe will support us reaching our goal of making RevolutionRace the leading brand in the outdoor industry. We are super excited to make this journey together with Altor.
Pernilla and Niclas Nyrensten, founders of RevolutionRace

"With an impressive growth, passionate founders and fantastic products, RevolutionRace generated considerable interest, both in Sweden and internationally. The owners wanted a partner who could help the company take the next step towards further growth. In the end, they decided on selling a minority share to Altor. Altor has relevant experience from the industry and was the ideal partner for Niclas and Pernilla. It’s going to be very exciting to follow their journey together with Altor in the future."
Gustaf Plyhm, Partner, Clearwater