Sweden’s Altor to Acquire Majority Stake in Iconic Hockey Equipment Maker CCM
Sweden’s Altor has agreed to acquire a majority stake in CCM Hockey, one of the most iconic names in the hockey equipment industry.
As part of the deal announced Wednesday, Montreal-based CCM’s management team will reinvest in the company, with Altor poised to support growth in both existing and new markets. According to a Globe and Mail report, Altor outbid several rival private-equity firm to acquire CCM from its Toronto-based parent Birch Hill Equity Partners.
Financial terms were not disclosed, but reports have pegged the deal enterprise value at $600 million. The agreement came following spring reports that Birch Hill planned to sell CCM after buying the firm in 2017 from German athletic footwear and clothing maker Adidas.
The deal has widespread real estate implications. The company will continue to be headquartered in Montreal, with operations in North America, Europe, and Asia.
Stockholm-based is known for building world-class consumer brands such as fashion house Toteme, winter sports company Rossignol Group, and audio brand Marshall Group, aims to help CCM accelerate its growth and tap into new opportunities.
Founded in 1899, CCM has a long-standing reputation for providing high-performance hockey equipment, including skates, sticks, and pads for skaters and goaltenders. The firm also makes figure skates, and apparel, including jerseys.
With a global presence in more than 40 countries, the brand is trusted by many of the world’s top NHL and Professional Women’s Hockey League players, including Auston Matthews of the Toronto Maple Leafs, Sidney Crosby of the Pittsburgh Penguins, Connor McDavid of the Edmonton Oilers and PWHL star Sarah Nurse.
CCM also owns acquisition of brands like Sweden’s Jofa and Finland’s Koho hockey equipment
“CCM is a fantastic company with an iconic brand and impressive history. We are excited to partner with their management team to accelerate their growth journey,” said Andreas Källström Säfweräng, partner and head of the consumer sector at Altor. “Together, we will continue the tradition of making sure players and goalies are equipped with the best gear.”
The transaction is expected to close by the end of 2024, subject to regulatory approvals and other customary conditions.
Earlier this week, Toronto-based Fairfax Financial Holdings announced that it has agreed to gain control of Bauer, the world’s largest hockey equipment manufacturer from Montreal-based asset management firm Sagard Holdings. Fairfax already owned part of Bauer’s parent, Peak Achievement Athletics but buying out Sagard’s interest will give Fairfax direct control of the company.
Sagard, also a major commercial real estate player, is a subsidiary of Power Corrp. of Canada.
“We couldn’t be happier that Fairfax has decided to acquire controlling ownership of our portfolio of brands. Fairfax has been an incredible partner over the past seven years, and we’re thrilled to solidify this new long-term relationship,” said Ed Kinnaly, CEO of Peak in a news release.
“Having Bauer Hockey remain with Canadian ownership reflects the importance of the sport within Canadian culture. With Fairfax’s ongoing support the opportunity for our business potential is limitless.”
Bauer is based in Exeter, N.H., but the company originated in Kitchener, Ont., in 1927. The firm operates a manufacturing facility in Blainville, Que.
The deal is expected to close in fourth quarter of 2024.
- ◦Sale/Acquisition