SPONSOR CAPITAL MAJORITY SHAREHOLDER OF HERRMANS
Sponsor Capital becomes the majority shareholder of Herrmans to support future growth and development. The aim is to further strengthen the market position and competitive advantages.
Herrmans is a leading company in heavy duty light solutions and bicycle components headquartered in Pietarsaari, Finland, with operations on a global scale. The Nordic Lights® business focuses on development, production and sales of technologically advanced work and driving lights for heavy duty vehicles. Bike Components business, operating under the Herrmans® brand, is a leading European supplier of components and lights for bicycles.
According to an agreement reached in December 2018, Sponsor Capital will become the new majority owner of Herrmans at year-end 2018. All previous owners will continue as significant shareholders. Furthermore, CEO Tom Nordström together with his management team, as well as Elo Mutual Pension Insurance Company will also become new shareholders.
"Herrmans is one of the global leaders in its fields and is well positioned for future growth. We are glad to have Sponsor as a new majority owner that will embrace and support the execution of our plans for further developing the company", says Tom Nordström, CEO of Herrmans.
"We, the current owners, are extremely proud of how Herrmans has developed since we became owners in 2002. Many potential buyers from all over the world have throughout the years shown their interest toward Herrmans. Sponsor, with strong competences to support our future growth, is the best partner for us", says Caj-Anders Skog, Chairman of the Board at Herrmans.
"Herrmans, with its two attractive business areas, has been a success story. This success has been enabled by very talented and committed management and employees. We are really looking forward to contributing to the future success of the company", says Thomas Sandvall, Partner at Sponsor Capital.
Herrmans Group develops, produces and markets light solutions for heavy duty vehicles and bicycle components. The company has a strong tradition of manufacturing and marketing products since 1959. The products are sold to OEMs and aftermarket worldwide. Total turnover in 2018 is approx. M€ 57 and the number of employees is approx. 270.
Sponsor Capital is a Finnish private equity firm founded in 1997. The firm makes mainly majority investments in Finnish mid-sized companies that have an excellent management, stable market position and predictable cash flow. Sponsor Capital operates responsibly and long term as well as in a strongly profit-oriented mode and believing in management's entrepreneurial spirit. Large Finnish institutions invest their capital through Sponsor Capital. www.sponsor.fi