Swedish private equity firm Altor announced that it has signed an agreement to acquire a significant majority stake in hockey equipment manufacturer CCM Hockey from Birch Hill Equity Partners.
As part of the deal, CCM management will also reinvest in the company. Financial terms of the deal were not immediately disclosed.
Altor has highlighted its desire to support CCM and its current management to unlock new growth opportunities.
“We are excited to partner with the management team and accelerate CCM’s growth journey,” said Andreas Källström Säfweräng, Partner and Head of Consumer Sector at Altor.
“Together we will continue the tradition of ensuring that all players and goalkeepers are represented in the best possible way in the sport they love. »
CCM was established in 1899 and is a designer, manufacturer and marketer of hockey clothing and equipment. Its head office is in Montreal.
Auston Matthews, Sidney Crosby, Connor McDavid, Thatcher Demko and Sarah Nurse are among the star players who use CCM equipment.
The deal is expected to close by the end of the year and is subject to customary closing conditions, including regulatory approvals.
Earlier this week, Bauer Hockey announced that subsidiaries of Fairfax Financial Holdings will acquire a majority stake in all of its operations.
Peak Achievement Athletics did not disclose the value of the deal. Fairfax and Sagard bought Bauer after its bankruptcy in 2017, paying $575 million.
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