Montagu Private Equity has agreed to acquire Helly Hansen Pro in partnership with its existing management team from the Helly Hansen Group.
HH Pro is a provider of survival and personal protection suits to predominantly the offshore and shipping markets.
Going forward the company will be rebranded Hansen Protection.
HH Pro, headquartered in Moss, Norway, has 140 employees and is predominantly active in the Nordic region. It is organised in three main business segments: survival suit rental, used by personnel in their transport between land and offshore installations (oil and gas rigs), personal protection suits, used in other marine and hazardous environments (navy, chemical plants, fire brigades) and pro textiles, which includes boat canopies and products for the agriculture, industry and health sectors.
With the support of Montagu, management plans to continue its growth by expanding into adjacent markets and product categories.
“HH Pro is a well managed business, providing essential products and services in attractive, growing markets. The company has an impressive track record and we are very excited about supporting the business in its next phase of development,” said Montagu’s Anthony Greensmith, director, and Christian Rasmussen, investment director, in a joint statement.
Terje Gorm Hansen, chief executive of HH Pro, says: “HH Pro is the leading supplier of survival and personal protection suits in its markets. In Montagu, we have found an experienced investor whose investment style, geographical reach and expertise is a great fit for our business and its strategy. With their support, I am confident that our business will continue to grow and prosper well into the future.”
