Altor's Fund III is a Nordics-focused private equity group that was set to acquire 80 percent of the shares in Rossignol Group, a global ski equipment maker. An exclusive process to purchase the majority stake was entered by Altor. It was announced last Monday that the majority stake will include Rossignol's management, Weber Investment, and the Boix-Vives family. Altor was expected to clinch the deal before or during the autumn of 2013.
Rossignol is the second biggest ski equipment maker in the world and its headquarter is in Moirans, France. It was owned by Boix-Vives family from 1955-2005. According to Altor, Rossignol posted earnings of Eur210 million (USD274.12 million) in sales last year and employs around 1,200 people.
Other financial details regarding the planned deal were yet to be disclosed but it was believed that Rosignol was bound to make a "healthy" profit from the said deal.
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