Mon, 11/02/2013 - 12:14
EQT IV has signed an agreement with an affiliate of Sun European Partners, the European adviser to Sun Capital Partners, to sell BTX Group.
BTX is a wholesaler comprised of five brands: Brandtex, Jensen Women, Signature, Imitz and Ciso, all of which have their own identity, addressing various sub-segments of the mature womenswear market.
During EQT IV’s ownership period, BTX has been through a significant transformation. Being initially a traditional manufacturing and wholesale company, the company is today a focused clothing business, targeting the classic mature woman and having a clear retail-focus, including more than 120 shop-in-shops solutions with its broad network of retail partners.
While under EQT IV’s ownership, the company has taken important steps to streamline its operations and create a coherent portfolio of brands, additional potential exists for BTX to further expand its footprint beyond its core Scandinavian market.
“The management team and the employees have done a tremendous job. BTX has continued to strengthen its position in its core markets and is today well positioned for growth”, says Åsa Riisberg, partner at EQT Partners, investment adviser to EQT IV.
“BTX is today a focused niche player in the mature women’s apparel segment, where the group enjoys a strong market position. This is built on the expertise and know-how of our committed employees, and on traditions that trace back to the establishment of the Brandtex brand in 1935. We are currently working on increasing our store presence and improving our product offering to our customers. We look forward to continuing the company’s ongoing efforts to optimise its offering under the new ownership of Sun European Partners and benefit from their operational resources,” says Jesper Roe, chief executive of BTX Group.
“BTX is a distinct Danish apparel company with a loyal customer base and a well-diversified portfolio of brands. We look forward to supporting management in further strengthening the company’s market presence across Northern Europe,” says Benjamin Buerstedde, vice president at Sun European Partners.
The parties have agreed not to disclose the transaction value. The transaction is subject to customary closing conditions.
EQT IV was advised by Carnegie and Plesner. Sun European Partners was advised by Ernst & Young and Horten.
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