TORONTO, July 13, 2012 /CNW/ - Ontario Teachers' Pension Plan
(Teachers'), through its private equity investment division, Teachers'
Private Capital (TPC), today announced an agreement for the acquisition
of a majority ownership stake in Helly Hansen Group AS (Helly Hansen),
the Norwegian designer and marketer of high-performance outdoor
Teachers' is acquiring approximately 75% of Helly Hansen from Altor Fund
II, which will retain a 25% equity stake in the company. Terms of the
transaction are not being disclosed.
Headquartered in Oslo with approximately 500 employees, Helly Hansen
designs, develops and markets stylish and high-performance technical
apparel. In 2011, the company had revenues of NOK 1,576 million (C$265
"Helly Hansen is an iconic brand with a long heritage and a strong
commitment to innovation and design. We see excellent opportunities to
continue growing revenues and international awareness outside the core
European markets," said Jo Taylor, TPC Vice-President and head of
Teachers' London office. "Management has a clear and compelling vision
for the business and we look forward to supporting their efforts to
build a global success story."
"We are pleased to have Teachers' as a long-term owner of the company,"
stated Peter Sjolander, the company's CEO. "The fund's strong financial
backing and established global footprint will be invaluable as we look
to expand the Helly Hansen brand internationally, particularly in North
TPC activities include leading deals on a sole or partnered basis,
investing in private equity funds in markets and sectors that it cannot
efficiently access directly and co-investing with other like-minded
private equity funds. TPC manages a global portfolio valued at
approximately $12 billion. Since Teachers' began making private equity
investments 20 years ago, it has achieved an average annualized return
of close to 20% from the asset class.
With $117.1 billion in assets as of December 31, 2011, the Ontario
Teachers' Pension Plan is the largest single-profession pension plan in
Canada. An independent organization, it invests the pension fund's
assets and administers the pensions of 300,000 active and retired
teachers in Ontario. For more information visit www.otpp.com
SOURCE Ontario Teachers' Pension Plan
For further information:
Director, Communications and Media Relations
Ontario Teachers' Pension Plan
+1 (416) 730-5347