News: POC Sold To Global Investment Company Investcorp
Investcorp, a global provider and manager of alternative investment products, today announced that it has added POC, a revolutionary manufacturer of skiing and cycling helmets, gear and accessories, to its portfolio. POC has been acquired for a total consideration of $65 million from outdoor equipment maker Black Diamond, Inc.
Investcorp continues its long history of involvement with consumer sporting businesses in Europe, both apparel and gear, with Riva Boats, its first European investment in 1984, followed by Helly Hansen, Dainese, AGV and now POC.
Established in 2004 and headquartered in Sweden, POC's quest is to provide athletes and consumers with the highest standard of personal protection. POC's line of products includes helmets, body armor, goggles, eyewear, gloves and other gear, which are currently sold across 27 countries worldwide. Through technical collaboration with partners such as Volvo and Ericsson, POC is pioneering innovative safety concepts.
The Company also partners with leading sportsmen and women as it strives to be at the forefront of technical advancements including the American World Cup alpine ski racer and Olympic gold medallist, Julia Mancuso, who has partnered with POC to develop a signature collection. Collaborations with leading road bike teams, such as Team Cannondale-Garmin and Team Stolting, ensures POC is at the vanguard of developing products famed for safety, comfort and aerodynamics for the rapidly growing road bike market.
This acquisition comes almost a year after Investcorp acquired the specialist gear and protection maker Dainese, the most recognized and respected brand for safety and quality in motorcycle and other dynamic sports markets. There are synergies between the two businesses that will be explored in the future.
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Gattai, Minoli, Agostinelli & Partners served as legal advisor and DC Advisory served as financial advisor to Investcorp.
About Investcorp
Investcorp is a leading provider and manager of alternative investment products and is publicly traded on the Bahrain Bourse (INVCORP). The Investcorp Group has offices in New York, Bahrain, London, Saudi Arabia and Abu Dhabi. Investcorp has three business areas: corporate investment in the U.S., Europe and the Gulf, real estate investment in the U.S and global hedge funds. As at June 30, 2015, the Investcorp Group had $10.6 billion in total assets under management ('AUM'), including assets managed by third party managers where Investcorp receives fees calculated on the basis of AUM. Further information, including our most recent periodic financial statements, which details our assets under management, is available at www.investcorp.com.
About POC
POC Sweden AB was founded on a strong mission to seek to do the best to possibly save lives and reduce consequences of accidents for gravity sports athletes and cyclists by developing and continually renewing what personal protection is all about. In many ways, POC believes it has set a new standard when it comes to technical solutions, construction, material combinations and engineering, with patented solutions to increase its athletes' degree of protection. POC's line of products includes helmets, body armor, goggles, eyewear, gloves and other gear. For additional information, please visit www.POCsports.com.
Press release provided by Investcorp.
Investcorp continues its long history of involvement with consumer sporting businesses in Europe, both apparel and gear, with Riva Boats, its first European investment in 1984, followed by Helly Hansen, Dainese, AGV and now POC.
Established in 2004 and headquartered in Sweden, POC's quest is to provide athletes and consumers with the highest standard of personal protection. POC's line of products includes helmets, body armor, goggles, eyewear, gloves and other gear, which are currently sold across 27 countries worldwide. Through technical collaboration with partners such as Volvo and Ericsson, POC is pioneering innovative safety concepts.
The Company also partners with leading sportsmen and women as it strives to be at the forefront of technical advancements including the American World Cup alpine ski racer and Olympic gold medallist, Julia Mancuso, who has partnered with POC to develop a signature collection. Collaborations with leading road bike teams, such as Team Cannondale-Garmin and Team Stolting, ensures POC is at the vanguard of developing products famed for safety, comfort and aerodynamics for the rapidly growing road bike market.
This acquisition comes almost a year after Investcorp acquired the specialist gear and protection maker Dainese, the most recognized and respected brand for safety and quality in motorcycle and other dynamic sports markets. There are synergies between the two businesses that will be explored in the future.
 | POC is one of the fastest growing, dynamic and innovative companies in the sports gear and protection sectors. Its cross generational reach, intrinsic focus on technical innovation and commitment to safety, make it the perfect fit for our portfolio. Leveraging our sector expertise, experience of working with high quality brands and industry connections, we believe Investcorp is well placed to further support POC's already impressive growth trajectory. - Gilbert Kamieniecky, Principal of Investcorp's European Corporate Investment Group |
| We are delighted to be partnering with Investcorp in the next stage of our development. I am confident that with their support we will continue to grow sales, increase penetration into new markets and drive forward innovation, while not deviating from our ultimate mission of doing the best we can to possibly save lives and reduce consequences of accidents for gravity sports athletes and cyclists. - Stefan Ytterborn, POC's Founder |
Gattai, Minoli, Agostinelli & Partners served as legal advisor and DC Advisory served as financial advisor to Investcorp.
About Investcorp
Investcorp is a leading provider and manager of alternative investment products and is publicly traded on the Bahrain Bourse (INVCORP). The Investcorp Group has offices in New York, Bahrain, London, Saudi Arabia and Abu Dhabi. Investcorp has three business areas: corporate investment in the U.S., Europe and the Gulf, real estate investment in the U.S and global hedge funds. As at June 30, 2015, the Investcorp Group had $10.6 billion in total assets under management ('AUM'), including assets managed by third party managers where Investcorp receives fees calculated on the basis of AUM. Further information, including our most recent periodic financial statements, which details our assets under management, is available at www.investcorp.com.
About POC
POC Sweden AB was founded on a strong mission to seek to do the best to possibly save lives and reduce consequences of accidents for gravity sports athletes and cyclists by developing and continually renewing what personal protection is all about. In many ways, POC believes it has set a new standard when it comes to technical solutions, construction, material combinations and engineering, with patented solutions to increase its athletes' degree of protection. POC's line of products includes helmets, body armor, goggles, eyewear, gloves and other gear. For additional information, please visit www.POCsports.com.
Press release provided by Investcorp.
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It's so hard to come to grips with the fact that to a major investment firm, $65 million is literally a drop in the bucket. Just a mere Fraction of the amount being earned individually by its executives, let alone the actual AUM of the firm itself.
Those are two of the stupidest comments to have ever graced the pages of pinkbike.
apologies to the youngsters who don't get this youtu.be/_m3eJxZEai0
not a bad deal in my opinion and i do not think that an investmentgroup who already owns dainese, HH and AGV would want to a drop in quality. they are in for the money and therefore i guess they will push their companies to sell more. dainese put some nice stuff out during last couple of years.
i think it is good for the product development -> inovate or die and certainly that is something you don´t want when you paying that amount of money
...and these corps are in for the return of their investment and ruining a company they bought for a lot of cash :-)
i am not saying that it is a good thing, but maybe it is good for us/me as a consumer. better products because poc is "forced" to perform. who knows in 2 to 3 years we all will know
Packs and clothing is awesome though, as is fusion tools.
You do all know POC is already owned by BDI dont you? a company that sells $200million a year.
POC isnt two guys in a shed making stuff, and the sale has been in the running since before BDI's May statement:
"As previously announced on March 16, 2015, Black Diamond has engaged the financial advisory firms Rothschild Inc. and Robert W. Baird & Co. to lead the exploration of a full range of strategic alternatives, including the sale of the Company's Black Diamond Equipment (including PIEPS) and POC brands in two separate transactions. The Company has received a number of non-binding indications of interest with respect to each of its brands."
People need to be less willing to jump on the "big company haters" band wagon.
You do all realise POC was sold over three years ago to BDE.
That was when the company was first sold, seems odd there is all this outcry now because of "evil big business buying up the little man" Bit late for that guys.
psbmx.com/2015/10/02/product-umbo-helmets-push-design
Sounds like his advisers maybe didn't tell the 'ole Chairman Of The Board the WHOLE truth
As much as we wanna say it was better 20 years ago, from a product standpoint, now is the most exciting time for innovative and properly engineered products. As much as I feel bad for the little guy, were at a point where what you buy has had enough engineering and r&d put into it to actually prove it's worth... As long as you can look past the marketing schemes.