The Danish private equity fund, Capidea, has become the new majority shareholder in Fairpoint Outdoors A/S (“Fairpoint Outdoors” or “the Company”), which is a fast-growing outdoor company developing, selling and distributing fishing tackle, primarily to the Nordic and European markets.
The Company has more than a thousand customers across Europe and owns, among others, the brands Westin and Kinetic and acts as the exclusive distributor of Sage, Rio and Redington in Scandinavia. The Company is headquartered in Allerød, north of Copenhagen, and has 35 employees.
The former owners and management team, Jens Buhl Jørgensen, Thomas Petersen Eldor and Thomas Lund Jespersen, will continue as both significant minority shareholders and in their current roles in the management team. Ms. Ulla Iversen will become Chairman of the Board and shareholder in Fairpoint Outdoors.
“It’s been vital for us to retain a considerable part of the ownership as well as daily management of the Company. Even though there were several opportunities to sell the entire Company, we have chosen a co-investor who respects and understands that a lot of the Company value lies in the people who founded the Company, the loyal employees that work hard every day to grow it, the strong and long-term relationship with the best quality manufacturers and customers in the industry”, says Jens Buhl Jørgensen, CEO in Fairpoint Outdoors.
“Fairpoint Outdoors has become a significant Scandinavian based developer and distributor of high-quality fishing tackle with their own brands Westin and Kinetic as growth drivers. The strong brands combined with the underlying positive trends of the sport fishing market form a solid foundation for future growth. We look forward to support the continued strong development of the Company together with the management team”, says Jens Thøger Hansen, Partner in Capidea.
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About Fairpoint Outdoors
Fairpoint Outdoors is a developer and manufacturer of sport fishing equipment and offers a broad range of sport fishing tackle. In addition to the Company’s own developed brands; Westin, Kinetic, Unique Flies and Move Mountains, Fairpoint Outdoors is the exclusive distributor of Sage, Rio and Redington in Scandinavia. Fairpoint Outdoors was founded in 2003 by partners; Jens Buhl Jørgensen, Thomas Petersen Eldor and Thomas Jespersen. All three founders are still working full time within the Company. Fairpoint Outdoors A/S employs more than 35 people in the headquarters in Denmark, and have an additional 25 experienced salesmen across Europe, as well as sales in Australia and the US.
For additional information regarding Fairpoint Outdoors, please see www.westin-fishing.com, www.kineticfishing.com and www.fairpoint.dk
About Capidea
Capidea is a Danish private equity fund making long-term investments in competitive small and medium-sized Danish companies. Capidea was established in November 2006 and has a total capital commitment of approximately DKK 2.3 billion / EUR 305 million in three funds. Capidea’s investor base includes the European Investment Fund (this operation benefits from a guarantee from the European Union under the European Fund for Strategic Investments), Dansk Vækstkapital II, Velliv, Nordea-fonden, Nordea Bank, Nykredit, Lars Larsen Group and a number of other blue-chip companies and private individuals who are an active part of Capidea’s network.
Capidea invests in companies within trading, distribution, service, IT and manufacturing. Since 2006, Capidea has acquired 25 companies with a total turnover exceeding DKK 7 billion / EUR 900 million. Fairpoint Outdoors is the ninth investment in Capidea’s latest fund, Capidea Kapital III K/S, which was established in December 2017 with a total capital commitment of DKK 865 million / EUR 115 million.
For additional information about Capidea, please see www.capidea.eu.