International investors 3i has sold its 49 percent minority stake in premiere Finnish outdoor clothing and sporting goods manufacturer Halti Oy to Ingman Group. The eight-year business relationship between 3i and Halti has helped the latter to double its annual revenues and move into the international market by leveraging 3i’s international network of contacts and expert management advisors, who added value to Halti’s business over the tenure of the investment. The initial investment in the company was made in July 2004 by 3i, along with funding from Halti’s management team.
Halti is Finland’s leading brand of outdoor and sports clothing, and accessories. The company was founded in 1976 and has over 35 years of expertise in its field. In 2010, it posted revenues of €28 mln and a staff count of 60 people. Halti sells its wares through a 1,400-strong network of retailers, department stores and hypermarkets in more than 15 countries. Initially functioning solely in Finland, the company expanded into key Alpine countries such as Germany, Austria and Italy. The company retails its products under two brand names: Halti, which is Finland’s highest peak, and Raiski. The company has also been active in global sports sponsorship and will be the 2013 FIS Alpine World Ski Championships official supplier of clothing to participants in the Schladming, Austria, event. They will also be featuring in the London Summer Olympics this year as official equipment providers for the Finnish Olympic team.