UPDATE: 9:30am Friday 9th October
A new press release just landed with us that gives a few more details on the sale. Investcorp owns what it refers to as a ‘Portfolio company’ by the familiar name of Dianese. It is this subsidiary company of Investcorp that has purchased POC for $65 million. POC was owned by US outdoor company, Black Diamond.
Multi-coloured protection company POC has been acquired by Investcorp, a Bahrain based investment company with £7 Billion in assets.
Here’s the full press release..
(Stockholm, Sweden – October 8, 2015) POC, a leading manufacturer of skiing and cycling helmets, apparel and accessories, has today been bought by Investcorp.
POC was founded in 2005 in Sweden, with a strong mission ‘to do the best we can to possibly save lives and to reduce the consequences of accidents for gravity sports athletes and cyclists’. The company has been growing successfully in over 40 countries across multiple product lines, by providing innovative safety protection for skiers, snowboarders, mountain bikers and road cyclists. Throughout the years, POC has received more than 40 prestigious international safety, design, innovation and business awards.
POC combines original concepts, technologies and cutting-edge innovations to take the safety and performance of racers and riders to the highest levels. POC’s scientific team consists of some of the world’s most knowledgeable sports medicine experts, brain scientists, neurologists, engineers, designers and athletes. POC sponsored athletes include the Cannondale-Garmin Professional Cycling team, five-time Olympic medalist Julia Mancuso, Olympian Aaron Blunck, renowned expedition snowboarder Jeremy Jones and innovative freeride mountain biker Martin Söderström and numerous of other top Olympians and World champion athletes and teams.
Stefan Ytterborn, POC’s founder and CEO says: “We are delighted to be partnering with Investcorp in the next stage of our development; with Investcorp, POC has the capability to further accelerate, to grow sales, increase penetration into new markets and drive forward innovation, while not deviating from our ultimate mission of doing the best we can to possibly save lives and reduce consequences of accidents for gravity sports athletes and cyclists”
Gilbert Kamieniecky, Principal of Investcorp’s European Corporate Investment group, says: “POC is one of the fastest growing, dynamic and innovative companies in the sports gear and protection sectors. Its cross generational reach, intrinsic focus on technical innovation and commitment to safety, makes it the perfect fit for our portofolio. Leveraging our sector expertise, experience of working with high quality brands and industry connections, we believe Investcorp is well placed to further support POCs already impressive growth trajectory.”
Investcorp is a leading provider and manager of alternative investment products and is publicly traded on the Bahrain Bourse (INVCORP). The Investcorp Group has offices in London, Bahrain, New York, Saudi Arabia and Abu Dhabi. Investcorp has three business areas: corporate investment in the U.S., Europe and the Gulf, real estate investment in the U.S and global hedge funds. As at June 30, 2015, the Investcorp Group had $10.6 billion in total assets under management (‘AUM’), including assets managed by third party managers where Investcorp receives fees calculated on the basis of AUM.