Herrmans Has New Owners
PIETARSAARI, Finland – Sponsor Capital has acquired the majority of the shares of Herrmans; the Finnish producer of bicycle components and heavy-duty light solutions. The new owner of the company is to support future growth and to further strengthen Herrmans’ market position and competitive advantages. Also, Dan Liljeqvist has been appointed Business Unit Director of Herrmans Bike Components.
Sponsor Capital became 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.
Positioned for future growth
In a statement on the new financial structure of the company CEO Tom Nordström states “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”.
“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.
The 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 the aftermarket worldwide. Total turnover in 2018 stands at about 57 million euro and the number of employees is 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).
Herrmans also announced the appointment of Dan Liljeqvist as the new Business Unit Director of Herrmans Bike Components. He has been leading Sales & Service organizations at various companies.