Altor Fund V acquires Oceansapart
Altor Fund V has signed an agreement wherein it is going to acquire a majority stake in Oceansapart, a Rise Up Fashion GmbH.
Altor Fund V has signed an agreement
wherein it is going to acquire a majority stake in Oceansapart, a Rise Up
founded in 2018 and is a uniquely positioned non-competitive activewear apparel
company. The activewear designs by the company include bras, hoodies,
activewear accessories, and leggings. Here, the company mainly caters to the
needs of female customers. According to Paul Engelmann, CEO and Susanna Wagner,
CPO, the company wants to become the global activewear brand for the new
generation. The team is excited to welcome Altor as the new majority owner and
long-term partner. This is going to give the company an edge to expand its
digital marketing channels and drive the internationalization of oceansapart.
Klas Johansson, Partner and Head, DACH Altor, this investment is going to help
the company to set a successful investment track record in the apparel and
direct-to-consumer market. He also said that the company has recently made an
IPO of RevolutionRace on the Nasdaq Stockholm stock exchange.
As per Giovanna
Maag, Partner, Altor, the growth track of oceansapart is impressive as it has
expanded in five countries in the time bracket of four years. He said that the
company is excited to partner with oceansapart on its continued
Altor is also
going to partner with a value-creating investor, as per the records.
Source â€“ Market Insiders